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Dundee’s Underlying Value Still Unappreciated After Transformative Sale of DPM Shares
Dundee Corp (OTCPK:DDEJF), announced the sale of 23.9 million shares of its Dundee Precious Metals (DPM) shares, which will bring in $152 million of cash. The deal was 5x over-subscribed. This is one of the transformational events that was core to our investment thesis published on December 4, 2019 – the underlying value embedded in the company’s DPM shares. The company will continue to hold roughly 12 million shares of DPM, valued at $96 million in our analysis, based on $8/share. We