Dynacor Group’s Record-Breaking Annual Sales Reach $250.2 Million in 2023, Marking a Significant 26.7% Increase

Dynacor Group's Record-Breaking Annual Sales Reach $250.2 Million in 2023, Marking a Significant 26.7% Increase

Dynacor Group Inc. (TSX-DNG), a renowned international gold ore industrial corporation serving artisanal and small-scale miners, has recently shared its unaudited sales figures for December 2023. The company reported a notable increase in its sales, achieving US$20.3 million (C$27.3 million). A substantial rise from the US$17.8 million (C$24.2 million) recorded in December 2022. This surge in sales represents a significant monthly gain of 14.0%, primarily attributed to a 12.4% increase in the selling price of gold.

Annual Growth Surges as Gold Prices and Sales Volume Climb

Looking at the broader picture, Dynacor’s 2023 annual sales reached an impressive US$250.2 million (C$337.6 million), marking a historic peak compared to the US$197.5 million (C$256.9 million) in 2022. This 26.7% year-over-year growth in sales was driven by a combination of factors, including a 17.7% increase in sales volume and a 9.0% rise in the selling price of gold.

In December 2023, the average selling price of gold notably exceeded US$2,000 per ounce, landing at US$2,024, compared to US$1,810 in December 2022. The average selling price for the year was US$1,936 per ounce, up from US$1,800 in the previous year.

The Veta Dorada plant, a key asset in Dynacor’s operations, operated at full capacity in December, processing 14,328 tonnes of ore. This brought the cumulative year-to-date processing total to an impressive 170,668 tonnes.

Looking Ahead: Dynacor’s 2024 Financial Outlook and 2023 Results

Dynacor is poised to release its financial guidance for 2024 in February, and the eagerly awaited 2023 annual financial results will be disclosed at the end of March. These upcoming announcements are anticipated with great interest, as they will provide deeper insights into the company’s financial health and strategic direction.

In summary, Dynacor’s remarkable performance in December 2023 played a crucial role in achieving historical annual sales for the year. The company’s strategic focus on both the selling price and volume of gold has yielded fruitful results, positioning Dynacor for continued success in the coming year.

Source: https://www.businesswire.com/news