08:16 AM EDT, 06/19/2024 (MT Newswires) -- Dynacor Group ( DNGDF ) , a gold ore industrial corporation servicing artisanal and small-scale miners, on Wednesday announced unaudited gold sales rose 10.2% to US$23.7 million (C$32.4 million) for the month of May 2024, from US$21.5 million (C$29.1 million) in the year earlier period.

The increase was due to higher sales prices, partially offset by lower sales volume, impacted by lower grades of ore supplied, the company said. It noted volumes were impacted by lower grades of ore supplied, while in May the average selling price of gold was US$2,340 per ounce, versus US$1,980 per ounce in May 2023 "as gold price continued to remain high."

DNG noted the 2024 cumulative sales at the end of May amounted to US$116.4 million, compared to US$97.3 million for the same period of 2023, a 19.6% increase. The average selling price of gold at the end of May 2024 was US$2,178 per ounce compared to US$1,921 per ounce in 2023.

During May 2024, it also noted, the Veta Dorada plant continued working at full pace processing over 14,500 tonnes.

Dynacor ( DNGDF ) announced 2024 sales guidance of between US$265 million to US$285 million using a market gold price range of US$2,000 and US$2,050 per ounce.