Dundee Precious Metals Confirms Fundamentals Unchanged; Chelopech Mine Operating at Full Capacity
Published : May 16, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

TORONTO, ONTARIO--(Marketwired - May 16, 2013) - Dundee Precious Metals Inc. (News - Market indicators)(TSX:DPM.WT.A) ("DPM" or the "Company") reports that it's business as usual at all its operations.

"We are surprised by the significant drop in our share price following the election results in Bulgaria," said Rick Howes, President and CEO. "We do not foresee any fundamental changes that would affect our Chelopech mine, which is fully permitted at all government levels. We have a strong balance sheet, generate solid margins, and have more than $250 million of cash and undrawn lines of credit to fully fund all of our capital commitments."

The Chelopech mine continues to deliver excellent mine and mill operating results. Ore processed was up year over year as a result of the completion of the underground crusher and conveyor system, the final component of the mine/mill expansion project. With Chelopech being a low cost mine operation, it generates significant free cash flow, even at current metal prices.

Krumovgrad, our high grade, low cost gold project in Bulgaria, successfully secured its mine concession and approval of its Environmental Impact Assessment in 2012 and neither is subject to further appeal. The Company is currently completing additional project engineering to further optimize the project and is awaiting a decision from the Municipal Council on the detailed development plan prior to placing any long lead orders of equipment. This is an attractive project even at lower gold prices.

Quarter to date, the Tsumeb smelter has been operating at normal levels, despite some minor residual commissioning issues related to the new dust handling systems. The planned annual furnace maintenance is expected to commence late in the second quarter, during which certain non-environmental components of Project 2012 and commissioning of the second oxygen plant will also be completed. Over the balance of the year, Tsumeb's results are expected to be much stronger, with the anticipated removal of the current curtailment, planned increases in volumes, and scheduled increases in treatment charges.

"Looking beyond 2013, the long term prospects of the Company remain unchanged. We have a number of planned investments that are expected to increase our mine and smelter capacity, generate attractive returns and add significant shareholder value," added Mr. Howes.

About Dundee Precious Metals

Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. The Company's principal operating assets include the Chelopech operation, which produces a gold, copper and silver concentrate, located east of Sofia, Bulgaria; the Kapan operation, which produces gold, copper, zinc and silver concentrate, located in southern Armenia; and the Tsumeb smelter, a concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold properties located in Bulgaria, Serbia, and northern Canada, including interests held through its 53.1% owned subsidiary, Avala Resources Ltd., its 45.5% interest in Dunav Resources Ltd. and its 10.7% interest in Sabina Gold & Silver Corp.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the Warrant Amendment, future growth opportunities, the future price of gold and silver, the estimation of mineral reserves and resources, the realization of mineral estimates, the timing and amount of estimated future production and output, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcome of pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any other future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: the availability of future growth opportunities, the actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, copper, zinc and silver; possible variations in ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, fluctuations in metal prices, as well as those risk factors discussed or referred to in documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.
Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by securities laws, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.



Dundee Precious Metals Inc.
Richard Howes
President & Chief Executive Officer
(416) 365-2836
or
Dundee Precious Metals Inc.
Lori Beak
Senior Vice President, Investor &
Regulatory Affairs and Corporate Secretary
(416) 365-5165
Data and Statistics for these countries : Armenia | Bulgaria | Canada | Namibia | Serbia | All
Gold and Silver Prices for these countries : Armenia | Bulgaria | Canada | Namibia | Serbia | All

Dundee Precious Metals Inc

PRODUCER
CODE : DPM.TO
ISIN : CA2652692096
CUSIP : 265269-20-9
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Dundee Precious Metals is a zinc and gold producing company based in Canada.

Dundee Precious Metals produces zinc, gold, copper and silver in Armenia, develops copper, gold and silver in Bulgaria.

Its main asset in production is KAPAN in Armenia, its main assets in development are CHELOPECH and KRUMOVGRAD in Bulgaria and its main exploration property is SURDULICA in Bulgaria.

Dundee Precious Metals is listed in Canada. Its market capitalisation is CA$ 1.4 billions as of today (US$ 1.1 billions, € 946.7 millions).

Its stock quote reached its highest recent level on December 17, 2010 at CA$ 9.99, and its lowest recent point on January 22, 2016 at CA$ 0.84.

Dundee Precious Metals has 178 440 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Dundee Precious Metals Inc
2/27/2019Exyn introduces robots into Dundee Precious Metals' gold min...
4/13/2010Discovers New Gold Deposits in Bulgaria
Financings of Dundee Precious Metals Inc
10/9/2013Issued Shares and Warrants of Sabina Gold & Silver Corp. on ...
6/11/2013Announces Result of Early Warrant Exercise Program
Nominations of Dundee Precious Metals Inc
3/21/2013DPM Board Announces Executive Transition and Senior Officer ...
11/14/2012DPM Board Announces Senior Appointment
9/19/2012Eira Thomas Joins Dundee Precious Metals' Board of Directors
Financials of Dundee Precious Metals Inc
10/15/2013NOTICE: DPM 2013 Third Quarter Financial Results
8/1/2013Announces 2013 Second Quarter Results
7/10/2013NOTICE: DPM 2013 Second Quarter Financial Results
5/9/2013Announces 2013 First Quarter Results
4/17/2013NOTICE: DPM 2013 First Quarter Financial Results
2/15/2013Announces 2012 Fourth Quarter and Annual Results and 2013 Gu...
1/24/2013NOTICE: DPM Fourth Quarter and Year End 2012 Results
11/7/2012Announces 2012 Third Quarter Results
10/18/2012NOTICE: Dundee Precious Metals 2012 Third Quarter Results
8/1/2012Announces 2012 Second Quarter Results and Updated 2012 Guida...
7/9/2012NOTICE: DPM 2012 Second Quarter Results
5/8/2012DPM First Quarter 2012 Financial Results
10/14/2011NOTICE: DPM Third Quarter 2011 Results
7/11/2011NOTICE: DPM Second Quarter 2011 Results
4/27/2011Notice: DPM Annual General Meeting and 2011 First Quarter Re...
2/23/2011DPM Reports Fourth Quarter 2010
Project news of Dundee Precious Metals Inc
9/16/2013s 2013 Production Guidance
5/16/2013(Chelopech)Confirms Fundamentals Unchanged; Chelopech Mine Operating at...
9/10/2012(Chelopech)DPM Files Technical Report on Chelopech Pyrite Recovery Proj...
1/13/2012(Krumovgrad)Files Technical Report on Krumovgrad Gold Project
11/24/2011(Krumovgrad)Bulgarian Government Approves EIA for DPM's Krumovgrad Gold ...
2/23/2011(Chelopech)DPM Reports Fourth Quarter 2010 and Year-End Results and Upd...
Corporate news of Dundee Precious Metals Inc
7/28/2016Dundee Precious Metals Announces 2016 Second Quarter Results
7/25/2016Dundee Precious Metals Announces Power Blackout in Namibia R...
7/11/2016DPM Announces Closing of C$54.65 Million Bought Deal Financi...
7/7/2016Dundee Precious Metals Announces Second Quarter Production R...
6/20/2016DPM Announces C$50 Million Bought Deal Financing
12/21/2015Dundee Precious Metals Announces 15% Increase to Measured an...
12/21/2015AVALA RESOURCES STARTS DRILLING ON THE LENOVAC PROJECT
11/30/2015AVALA RESOURCES ANNOUNCES EARN-IN AND JOINT VENTURE AGREEMEN...
11/19/2015Dundee Precious Metals Announces Approval of Main Detailed D...
11/5/2015Dundee Precious Metals Announces 2015 Third Quarter Results
11/4/2015Dundee Precious Metals Announces Changes to Board of Directo...
10/8/2015Dundee Precious Metals Announces Third Quarter Production Re...
9/15/2015Dundee Precious Metals Announces Maintenance of the Tsumeb S...
7/30/2015Dundee Precious Metals Announces 2015 Second Quarter Results
7/9/2015Dundee Precious Metals Announces Second Quarter Production R...
4/14/2015Dundee Precious Metals Announces First Quarter Production Re...
4/14/2015Announces First Quarter Production Results and Provides Noti...
3/31/2015Dundee Precious Metals Announces Reserve and Resource Update...
3/31/2015Announces Reserve and Resource Update for 2015
3/18/2015Dundee Precious Metals Announces Commencement of Annual Tsum...
3/18/2015Announces Commencement of Annual Tsumeb Smelter Shutdown
2/26/2015AVALA RESOURCES PROVIDES AN EXPLORATION UPDATE
2/18/2015Tags to Riches: Mining Company Tracks Production With Sensor...
2/13/2015Dundee Precious Metals Announces 2014 Fourth Quarter and Ann...
2/13/2015Dundee Precious Metals Announces 2014 Fourth Quarter and Ann...
1/22/2015NOTICE: Dundee Precious Metals 2014 Fourth Quarter and Year ...
1/14/2015(Chelopech)Announces Record Fourth Quarter Production at Chelopech and ...
1/14/2015Dundee Precious Metals Announces Record Fourth Quarter Produ...
11/6/2014Dundee Precious Metals Announces 2014 Third Quarter Results
11/5/2014Dundee Precious Metals Announces 2014 Third Quarter Results
10/16/2014NOTICE: Dundee Precious Metals 2014 Third Quarter Results
10/16/2014NOTICE: Dundee Precious Metals 2014 Third Quarter Results
10/8/2014Dundee Precious Metals Announces a Favourable Preliminary Ec...
10/8/2014Dundee Precious Metals Provides Third Quarter 2014 Productio...
10/3/2014Dundee Precious Metals Acquires Shares and Warrants of Avala...
7/30/2014Dundee Precious Metals Announces 2014 Second Quarter Results
7/14/2014NOTICE: DPM 2014 Second Quarter Results
7/10/2014Dundee Precious Metals Announces Krumovgrad Municipal Counci...
7/10/2014Dundee Precious Metals Announces Krumovgrad Municipal Counci...
6/26/2014Dundee Precious Metals Increases Revolving Credit Facility b...
5/20/2014Dundee Precious Metals Strengthens Senior Management Team
8/29/2013Announces First Underground Mineral Resource Estimate for th...
7/24/2012Reports on Progress of Acid Plant at Smelter in Namibia
4/30/2012Receives First Contact from Namibian Government on Tsumeb Sm...
4/23/2012DPM Exercises Warrants of Dunav Resources Ltd.
2/16/2012DPM Announces 2011 Deno Gold Open Pit Project and Undergroun...
1/26/2012(Krumovgrad)Bulgarian Court Dismisses Appeal of DPM's Krumovgrad Mining ...
11/30/2011(Krumovgrad)DPM: New Krumovgrad Feasibility Study Confirms Low Cash Cost...
9/15/2011Improves Safety and Operational Efficiency With AeroScout Re...
9/2/2011Dunav Resources and Dundee Precious Metals Complete Transact...
8/23/2011DPM to Acquire Shares and Warrants of Dunav Resources Ltd. o...
5/10/2011(Chelopech)DPM and Chelopech Mining Raise Final US$14.5 Million of Chel...
3/23/2011DPM Exercises Warrants of Avala Resources Ltd.
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (DPM.TO)
7.95-2.21%
TORONTO
CA$ 7.95
09/16 15:46 -0.180
-2.21%
Prev close Open
8.13 7.88
Low High
7.77 8.01
Year l/h YTD var.
7.19 -  9.82 -13.11%
52 week l/h 52 week var.
7.19 -  10.60 -16.67%
Volume 1 month var.
319,657 3.38%
24hGold TrendPower© : -11
Produces Copper - Gold - Silver - Zinc
Develops Copper - Gold - Silver
Explores for Molybdenum
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2021-13.11%9.957.22
202058.30%9.9610.03
201963.74%6.663.44
201817.67%3.782.56
201733.33%3.702.13
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.26-3.54%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.61+1.16%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.05+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.16-1.69%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 1.65-2.37%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.86-3.02%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.14-4.64%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.51-3.77%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20-2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.88-3.68%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 30.41+0.26%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :