InvestmentPitch Media Video Discusses Dynacor Gold Mines’ Forecast Increase in Gold Sales and Annual Profits by Approximately 25% and 35% respectively



Vancouver, British Columbia – (Newsfile Corp. – September 23, 2021) – Montreal-based Dynacor Gold Mines (TSX: DNG) (OTC Pink: DNGDF), a dividend-paying industrial processor of gold ore, has increased its sales and profits and production forecast for the year ending December 31, 2021. Management forecasts total gold sales for 2021 in the range of US $ 185 million to US $ 190 million, an increase of 23 at 27% from the US $ 150 million previously forecast in February. This would represent a year-over-year increase of around 82-87% from the US $ 101.5 million in sales reported for 2020.

For more information, please see the InvestmentPitch Media “videowhich provides additional information about this news and the company. If this link is not activated, please visit www.InvestmentPitch.com and enter “Dynacor” in the search field.

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Net income for 2021 is expected to be between $ 9.0 and $ 9.5 million, an increase of 30-38% from the previous forecast of $ 6.9 million. This works out to earnings per share of between US $ 0.23 and $ 0.25 or C $ 0.29 to $ 0.31. In addition, the company expects production to exceed 100,000 ounces of gold equivalent this year, for the first time in the company’s history.

These forecasts are based on the following assumptions, namely that the average price of gold remains around US $ 1,785 per ounce and that the company continues to receive a constant average grade of the ore. It also assumes a stable exchange rate between Peruvian sol and US and Canadian dollars, with the US-Canada exchange rate averaging between US $ 1 and C $ 1: 25.

Dynacor is a major processor of gold ore, which it purchases from artisanal miners and the small-scale mining industry or “ASM” in Peru, with over 600 registered ASMs currently supplying ore.

The company processes the ore at its recently expanded Veta Dorada plant, which produces 430 tonnes per day and is strategically located fifteen minutes from the Pan-American Highway near Chala in southern Peru.

Dynacor, founding partner of the PX IMPACT® gold program, produces gold that respects the environment and society. A growing number of companies supporting the luxury jewelry, watchmaking and investment sectors are paying a small premium for this gold which provides direct investment to develop health and education projects for artisanal mining communities and on a small scale.

With decades of experience in Peru, constantly operating and exporting gold since 1998, the company intends to expand its processing operations to other jurisdictions. The company also owns the late stage Tumipampa gold exploration property in the Apurimac department of south-central Peru.

For more information, please visit the company website www.dynacor.com, or contact the company at 514-393-9000 ext 230 or by email at investors@dynacor.com.

About InvestmentPitch Media

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97372


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