For the year-to-May, Dynacor's cumulative sales are $87.2 million, which is a 26% year on year increase. The January-May sales translate to an annualized rate of $210.78 million.

The May sales were up 24% year on year and 11% month on month.

Dynacor's average selling price in May was $1,846/oz, compared to $1,873/oz in May of last year. The 2022 forecast is based on an average gold price of $1,800/oz.

Canada-based Dynacor is involved in gold production through the processing of ore purchased from artisanal and small-scale mining.

For Q1, Dynacor reported record net income of $0.13 per share, which the company said was in line with its outlook of reaching $0.28-$0.33 per share for the year.

Dynacor's share price rose 3% day on day to C$3.02 (US$2.34) on June 15. The company has a market capitalization of C$117.03 million.