Dundee poised to maintain decade-long track record of meeting guidance
Toronto-listed Dundee Precious Metals (DPM) has announced strong third-quarter results, keeping the company on track to continue its ten-year track record of achieving its gold production and all-in sustaining cost (AISC) guidance.
The miner, which operates in Europe and South America, produced 61 145 oz of gold and 7.3-million pounds of copper in the September quarter, with year-to-date gold at 190 516 oz and copper at 21.9-million ounces.
With solid operating performance from the Chelopech and Ada Tepe mines in Bulgaria in the first nine months, DPM expects to achieve its gold guidance of between 245 000 oz and 285 000 oz, and copper guidance of 29-million to 34-million pounds, at an AISC of $790/oz to $930/oz.
“We generated $213-million of free cash flow year-to-date, demonstrating the quality of our assets, our low-cost structure and the benefit of higher metal prices,” said president CEO David Rae.
“We are well-positioned to continue our ten-year track record of achieving our gold production and AISC guidance,” he said.
Meanwhile, Rae said DPM continued to advance Čoka Rakita, its high-grade, low-cost growth project in Serbia, with the prefeasibility study on track for completion in the first quarter of 2025.
“Our scout drilling programmes continue to return strong results confirming the large-scale potential for further high-grade copper/gold mineralisation, as demonstrated by the Dumitru Potok and Frasen discoveries we announced in September.
“DPM is in a unique position in the industry, with a strong base of high-margin production driving significant free cash flow generation, and the balance sheet strength to internally fund our growth pipeline and exploration prospects while continuing to return capital to shareholders.”
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
