MWN-AI** Summary
Dundee Precious Metals Inc. (TSX: DPM) reported strong preliminary production results for gold and copper for the fourth quarter and full year ending December 31, 2024, confirming that both of its mining operations met their annual production targets. This milestone marks the tenth consecutive year the company has successfully achieved its gold production guidance, illustrating its operational efficacy in the mining sector. David Rae, President and CEO, emphasized the company's robust performance by highlighting that the Ada Tepe mine had its best quarter of the year, while the Chelopech mine continued its solid production history.
For the fourth quarter, DPM processed approximately 748,100 tonnes of ore, yielding about 70,900 ounces of gold and 7.8 million pounds of copper. Over the full year, the consolidated figures reached 2,916,100 tonnes processed, resulting in 261,300 ounces of gold and 29.7 million pounds of copper. The strong operational output from both mines was in line with expectations, reaffirming the company's reliable production capabilities.
In addition to its production achievements, Dundee Precious Metals has resumed its commitment to returning capital to shareholders through a quarterly dividend and ongoing share repurchases. The company repurchased over 5.7 million common shares in 2024, investing approximately $50 million. A quarterly dividend of $0.04 per share is scheduled for payment on January 15, 2025, to shareholders on record as of December 31, 2024.
Looking forward, DPM plans to release its detailed fourth quarter and full-year financial results on February 13, 2025, which will provide further insights into its operational and financial performance.
MWN-AI** Analysis
Dundee Precious Metals Inc. (TSX: DPM) recently announced impressive preliminary production results for 2024, marking its tenth consecutive year of meeting gold production guidance. This consistent performance underscores the company's operational strength, especially with its Chelopech and Ada Tepe mines contributing significantly to the annual output, producing a combined 261,300 ounces of gold.
Investors should view Dundee Precious Metals favorably due to its solid foundation in operational efficiency and disciplined capital allocation strategy. Notably, the company has executed a robust return of capital program, successfully repurchasing nearly 5.7 million shares in 2024 and providing a sustainable quarterly dividend of $0.04 per share. Such actions not only enhance shareholder value but also demonstrate management's commitment to returning profits to investors in a volatile market.
However, potential investors must remain cautious given the inherent risks prevalent in the mining sector. Factors such as fluctuating metal prices, geopolitical tensions, and operational challenges in foreign jurisdictions can significantly impact future performance. Furthermore, with the conclusion of the DPM Tolling Agreement and a significant cash inflow from Sinomine Resource Group, it is crucial to assess how these changes will affect the company's financial stability and strategic direction moving forward.
Dundee's upcoming conference call on February 14, 2025, will be a critical opportunity for stakeholders to gain insights into the company’s operational efficiencies and long-term strategies amidst the broader macroeconomic landscape.
In conclusion, while Dundee Precious Metals presents a strong investment case based on its historical performance and shareholder-friendly practices, potential investors should weigh these benefits against the inherent risks of the mining industry. A measured approach, focusing on production consistency and operational advancements, will be crucial in navigating future investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) announced preliminary gold and copper production results for the three and twelve months ended December 31, 2024, with both mines achieving annual production guidance.
“We ended 2024 on a strong note, with Ada Tepe delivering its highest quarterly production of the year, and Chelopech continuing its long track record of performance,” said David Rae, President and Chief Executive Officer. “I’m pleased to report that 2024 marks the tenth consecutive year we have achieved our gold production guidance, which is a remarkable milestone in the mining industry and a testament to our strengths as operators.”
Preliminary Production Highlights
Preliminary results for the fourth quarter and full-year of 2024 are provided in the table below:
| Ore processed | Metals contained in concentrate produced | Payable metals in concentrate sold | |||
(Kt) | Gold (K oz.) | Copper (Mlbs.) | Gold (K oz.) | Copper (Mlbs.) | |
| Q4 2024 | |||||
| Chelopech | 550.6 | 41.9 | 7.8 | 36.9 | 6.7 |
| Ada Tepe | 197.5 | 29.0 | – | 28.0 | – |
| Consolidated | 748.1 | 70.9 | 7.8 | 64.9 | 6.7 |
| Full-Year 2024 | |||||
| Chelopech | 2,143.7 | 167.0 | 29.7 | 142.0 | 25.1 |
| Ada Tepe | 772.4 | 94.3 | – | 92.1 | – |
| Consolidated | 2,916.1 | 261.3 | 29.7 | 234.1 | 25.1 |
| 2024 full-year guidance (1) | |||||
| Chelopech | 2,090 – 2,200 | 155 – 175 | 29 – 34 | 130 – 145 | 23 – 27 |
| Ada Tepe | 710 – 800 | 90 – 110 | – | 80 – 100 | – |
| Consolidated | 2,800 – 3,000 | 245 – 285 | 29 – 34 | 210 – 245 | 23 – 27 |
| (1) | As disclosed in Management’s Discussion and Analysis (“MD&A”) for the quarter ended September 30, 2024, issued on November 5, 2024, available at www.sedarplus.ca and at www.dundeeprecious.com . | |
Operational Highlights
Chelopech continued its strong track record during the fourth quarter, producing approximately 41,900 ounces of gold and 7.8 million pounds of copper.
Ada Tepe delivered its strongest production quarter of the year, producing approximately 29,000 ounces of gold. The increased production was in-line with expectations, as mining returned to budgeted rates.
Conclusion of DPM Tolling Agreement
On January 2, 2025, DPM received a cash payment of approximately US$162 million from a subsidiary of Sinomine Resource Group Co. Ltd., and concluded the DPM Tolling Agreement, subject to customary post-closing adjustments.
Return of Capital to Shareholders
In line with our disciplined capital allocation framework, DPM continues to return capital to shareholders through a sustainable quarterly dividend and share repurchases under its normal course issuer bid.
During the fourth quarter, DPM repurchased 2,309,947 common shares at an average price of US$9.40 (Cdn$13.27) per share for a total of approximately US$21.7 million. In 2024, the Company repurchased 5,709,458 common shares at an average price of US$8.76 (Cdn$12.13) per share for a total of approximately US$50.0 million.
As previously announced in November 2024, DPM will pay a quarterly dividend of US$0.04 per share on January 15, 2025, to shareholders of record as at 5:00 p.m. Toronto local time on December 31, 2024.
Timing of Fourth Quarter and Full-Year 2024 Financial Results
The Company plans to release its fourth quarter and full-year 2024 operating and financial results after market close on Thursday, February 13, 2025. The news release, MD&A and consolidated financial statements will be posted on www.sedarplus.ca and www.dundeeprecious.com .
On Friday, February 14, 2025, at 9 AM EST, DPM will host a conference call and audio webcast to discuss the results, followed by a question-and-answer session. To participate via conference call, register in advance at the link in the following table to receive the dial-in information as well as a personalized PIN code to access the call.
| Conference call date and time | Friday, February 14, 2025 – 9 AM EST |
| Call registration | https://register.vevent.com/register/BI13f2d835841646a889698d40e0f996c5 |
| Webcast link | https://edge.media-server.com/mmc/p/9e6nbrvd |
| Replay | Archive will be available on www.dundeeprecious.com |
About Dundee Precious Metals Inc.
Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. The Company’s purpose is to unlock resources and generate value to thrive and grow together. This overall purpose is supported by a foundation of core values, which guides how the Company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG, innovation, optimizing our existing portfolio, and growth. The Company’s resources are allocated in-line with its strategy to ensure that DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).
For further information please contact:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dundeeprecious.com
Cautionary Note Regarding Forward Looking Statements
This news release contains “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”) that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward Looking Statements in this press release relate to, among other things: anticipated results of production in the fourth quarter and full year of 2024 at each of the Company’s operating mines, including amounts of ore processed, metals contained in concentrate produced, payable metals in concentrate sold, and amounts of gold and copper produced; the Company’s previously announced production guidance for 2024 at each of its operating mines and its ability to achieve such results; the expected timing for payment of previously announced dividends payable to holders of common shares as of December 31, 2024; the intention of the Company to continue to pay dividends to the holder of common shares or to re-purchase common shares under the normal course issuer bid; and the anticipated timing for the release of the Company’s financial and operational results for the fourth quarter and full year of 2024. Forward Looking Statements are based on certain key assumptions and 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 Company 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, fluctuations in metal prices and foreign exchange rates; the commencement, continuation or escalation of geopolitical and/or intrastate conflicts and crises, including without limitation, in Ukraine, the Middle East, Ecuador, and other jurisdictions from time to time, and their direct and indirect effects on the operations of the Company; possible variations in ore grade and recovery rates; inherent uncertainties in respect of conclusions of economic evaluations, economic studies and mine plans; the speculative nature of mineral exploration, development and production, including changes in mineral production performance, exploitation and exploration results; possible inaccurate estimates relating to future production, operating costs and other costs for operations; uncertainties inherent with conducting business in foreign jurisdictions where corruption, civil unrest, political instability and uncertainties with the rule of law may impact the Company’s activities; changes in tax regimes in the jurisdictions in which the Company operates; there being no assurance that the Company will pay dividends to holders of common shares or purchase common shares under the normal course issuer bid in the future; as well as those risk factors discussed or referred to in any other documents (including without limitation the Company’s most recent Annual Information Form) filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca . The reader has been cautioned that the foregoing list is not exhaustive of all factors which may have been used. Although the Company 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. The Company’s Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Unless required by securities laws, the Company 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.
FAQ**
How has Dundee Precious Metals Inc.’s production performance influenced investor sentiment towards DB Commodity Long ETN DPU in early 2025, particularly after achieving ten consecutive years of gold production guidance?
In light of the recent cash payment from Sinomine Resource Group and the conclusion of the DPM Tolling Agreement, how might this affect the valuation of DB Commodity Long ETN DPU over the next fiscal year?
Given DPM's disciplined capital allocation strategy, including share repurchases and dividends, what impact do you foresee on the performance of DB Commodity Long ETN DPU in the upcoming quarters?
Considering the geopolitical and economic risks outlined in DPM's forward-looking statements, how might these factors influence the demand for DB Commodity Long ETN DPU among cautious investors in 2025?
**MWN-AI FAQ is based on asking OpenAI questions about DB Commodity Long ETN (NYSE: DPU).
NASDAQ: DPU
DPU Trading
0.00% G/L:
$ Last:
0 Volume:
$N/A Open:
