Is Gold Set Up for A Comeback?

Is Gold Set Up for A Comeback?

By: Dylan Sikes – News

Wednesday, March 15, 2023

Given recent volatility in equity markets there may be a new shine to gold. And this company just reported a sharp increase in year over year gold sales for February.

Dynacor Group Inc. (TSX-DNG) is an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners). The firm announced in its press release an increase in unaudited gold sales of US$28.6 million (C$38.5 million) or February 2023, compared to US$16.7 million (C$21.2 million) in February 2022. The plant processed just over 13,000 tonnes of ore in February, operating at its full capacity of 500 tpd. In February, the average selling price of gold was US$ 1,845 per ounce, compared to US$1,884 per ounce in February of 2022.

Protests and roadblocks in the southern part of Peru cause postponements in mid January due to safety measures its gold export. Exports resumed in early February, including selling January's second-half gold production and selling and exporting the remaining two gold bars combining for 1,030 ounces, which had been retained for control procedures since December 2019.

Shares were trading at $2.99 in afternoon trade.

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