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Be the first with the news that moves the market- Shares in Dundee Precious Metals (DPM) have jumped 7 per cent today after the company posted another quarter of strong production
- For the third quarter of 2020, total ore processed came to approximately 777,000 tonnes, compared to 780,000 tonnes last quarter
- The company sold 69,200 ounces of gold and roughly 7.6 million pounds of copper during the quarter
- As such, the company remains on track to achieve its full year production guidance at each of its operations
- Dundee Precious Metals (DPM) is currently up seven per cent and is trading at C$10.40 per share
Shares in Dundee Precious Metals (DPM) have jumped 7 per cent today after the company posted another quarter of strong production.
During the third quarter of 2020, the Toronto-based company processed a total of 777,000 tonnes of ore from its Chelopech and Ada Tepe mines in Bulgaria. This compares to an aggregate of 780,000 tonnes produced last quarter.
Of this amount processed, Dundee Precious Metals produced roughly 79,800 ounces of gold and 9.2 million pound of copper, with total sales for the period amounting to 69,200 ounces of gold and 7.6 million pounds of copper.
The results are more or less in line with the company’s second quarter performance, which saw 81,400 ounces of gold produced with 70,800 ounces sold, and 9.4 million pounds of copper produced with 8.5 million pounds sold.
Today’s announcement noted that the sustained performance is due largely to minimal interruptions from the COVID-19 pandemic, which has caused havoc to many other mining companies around the world.
As such, Dundee Precious Metals remains on track to achieve its previously announced full-year guidance, which outlines gold sales of between 229,000 and 267,000 ounces, and copper sales of between 33 million and 38 million pounds.
David Rae, President and CEO of Dundee Precious Metals, commented on the third quarter production results.
“Our operations continue to perform extremely well and delivered another strong quarter of production in the third quarter.
“Our impressive performance year-to-date reflects outstanding efforts at all of our sites to proactively manage the challenges of the COVID-19 pandemic,” he said.
Dundee Precious Metals (DPM) is currently up seven per cent and is trading at C$10.40 per share at 10:42am EDT.
