The Tsumeb specialty smelter in Namibia
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  • Dundee Precious Metals (DPM) Delivers Strong Gold Production
  • Announcing preliminary production results for 2nd quarter of 2022
  • Chelopech produce 49,200 oz of gold; Ada Tepe produce 23,700 oz of gold
  • Quarterly dividends of $0.05 will be paid on July 15th
  • Permits for Loma Larga are progressing despite protesting
  • Dundee Precious Metals Inc. is a Canadian-based international gold mining company with projects in Bulgaria, Namibia, Ecuador and Serbia
  • Dundee Precious Metals (DPM) ended the day trading at C$6.01

Dundee Precious Metals (DPM) has announced their 2nd quarter preliminary production results.

“During the quarter, we continued to deliver strong operating performance at both of our mines, and we are on-track to achieve our guidance targets for the year for gold and copper production,” said David Rae, President and Chief Executive Officer.

“Permitting activities for our Loma Larga project in Ecuador continue to progress well, and at the end of June, we achieved a key milestone with the receipt of the technical viability certificate for the filtered tailings storage facility”.

The table below shows preliminary results for the 2nd quarter of 2022:

Production Highlights

Source: Dundee Precious Metals.

Chelopech

Chelopech delivered strong performance, producing 49,200 ounces of gold and 8.8 million pounds of copper.

Ada Tepe

Ada Tepe produced approximately 23,700 ounces of gold. Gold grades are expected to increase in the fourth quarter as per the mine plan.

The Tsumeb

The Tsumeb smelter processed approximately 21,100 tonnes of complex concentrate. The results reflect unplanned 45-day shutdown due to water leaks. This was resolved during the planned Ausmelt maintenance shutdown to the off-gas and baghouse system. Operational performance is expected to improve moving forward.

Ecuador

Updates to permitting activities for Loma Larga are progressing. The project received the technical viability certificate for the filtered tailings storage facility last month. In order to proceed, an environmental licence is required by The Citizens Participation Process. This was temporarily postponed due to national protests last month, but will likely resume closer to the end of this month. Work related to the revised feasibility study continues as planned, while drilling activities remain suspended.

Returning Capital to Shareholders

As previously announced in May 2022, DPM will pay a quarterly dividend of $0.05 CDN per share on July 15, 2022 to shareholders. 

The company plans to release its 2nd quarter 2022 operating and financial results after market close on Thursday, July 28, 2022.

Dundee Precious Metals Inc. is a Canadian-based international gold mining company with projects in Bulgaria, Namibia, Ecuador and Serbia.

Dundee Precious Metals (DPM) ended the day trading at C$6.01.

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