Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or
“the Company”) is pleased to provide an updated Mineral Resource
and Mineral Reserve estimate for the Chelopech mine in Bulgaria.
Highlights
- Mine life extended to
2031: Proven and Probable Mineral Reserves of 1.6 million
ounces (“Moz.”) of gold and 312 million pounds (“Mlbs.”) of copper
supports a mine life that now extends to 2031. In 2022, DPM
successfully added approximately 1.1 million tonnes (“Mt”) to
Mineral Reserves, replacing about half of its 2022 production
depletion of 2.1 Mt.
- Growth of
Measured and Indicated Mineral Resource base: Total
Measured and Indicated Mineral Resources, exclusive of Mineral
Reserves, of 1.3 Moz. of gold and 281 Mlbs. of copper add further
potential to extend mine life.
- Additional
potential with in-mine and brownfield exploration:
Significant drilling program planned for 2023, including 44,000
metres of in-mine drilling for Mineral Resource development, and
50,000 metres of brownfield drilling, focused on infill drilling at
the Sharlo Dere prospect and conceptual targets on the mine
concession and Brevene exploration licence.
“The updated Mineral Reserve estimate
demonstrates our consistent track record of replacing Mineral
Reserves at Chelopech,” said David Rae, President and Chief
Executive Officer of Dundee Precious Metals.
“With mining now expected to extend into 2031, a
strong Mineral Resource base and increased in-mine and brownfield
exploration drilling, we believe there is strong potential for this
trend to continue at Chelopech.”
Updated Mineral Reserve and Resource
Estimate
The 2022 Mineral Resource and Mineral Reserve
estimate is based on a net smelter return (“NSR”) equation that
informs a profitability indicator that considers, among other
things, metal price, metallurgical recoveries, treatment charges
and market forecasts.
The updated Proven and Probable Mineral Reserves
at Chelopech of 1.55 Moz. of gold and 311.5 Mlbs. of copper support
a nine-year mine life that extends to 2031, excluding expected
further conversions of existing Mineral Resources and potential
additional exploration success.
The updated Mineral Reserves estimate is shown
below and is effective as of December 31, 2022:
Chelopech Proven and Probable Mineral Reserve
Estimate(As at December 31, 2022) |
Ore Type |
ReserveClassification |
Tonnes(Mt) |
Grades |
Metal Content |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Au (Moz.) |
Ag (Moz.) |
Cu (Mlbs.) |
General |
Proven |
8.1 |
2.47 |
6.8 |
0.78 |
0.65 |
1.77 |
140.1 |
Probable |
9.5 |
2.70 |
8.1 |
0.81 |
0.82 |
2.48 |
168.8 |
Block 700 |
Probable |
0.1 |
4.13 |
113.1 |
0.03 |
0.02 |
0.47 |
0.1 |
Block 152 |
Probable |
0.5 |
4.04 |
4.3 |
0.23 |
0.06 |
0.07 |
2.5 |
All |
Proven |
8.1 |
2.47 |
6.8 |
0.78 |
0.65 |
1.77 |
140.1 |
Probable |
10.1 |
2.78 |
9.3 |
0.77 |
0.90 |
3.01 |
171.4 |
Total |
|
18.2 |
2.64 |
8.2 |
0.77 |
1.55 |
4.78 |
311.5 |
Footnotes:
- The Mineral
Reserves disclosed herein have been estimated in accordance with
the CIM Definition Standards for Mineral Resources and Mineral
Reserves (the “CIM Definition Standards”, adopted by CIM Council on
May 10, 2014).
- Mineral Reserves
have been depleted for mining as of December 31, 2022.
- The Inferred
Mineral Resources do not contribute to the financial performance of
the project and are treated in the same way as waste.
- The reference point
at which the Mineral Reserves are defined is where the ore is
delivered to the crusher.
- Long term metal
prices assumed for the evaluation of the Mineral Reserves are
$1,500/oz. for gold, $17.00/oz. for silver, and $3.25/lb. for
copper.
- Mineral Reserves
are based on a net smelter return-less-costs cut-off value of $0/t.
The total cost applied was $55/t which is a sum of operational
costs of approximately $50/t and sustaining capital of $5/t.
- All blocks include
a complex NSR formula that differs for the three ore types within
the Mineral Reserve and Mineral Resource. The NSR formula utilizes
long-term metal prices, metallurgical recoveries, payability terms,
treatment charges, refining charges, penalty charges (deleterious
arsenic), concentrate transport costs, and royalties. For clarity
of understanding of ore value, a simplified formula is presented
here that correlates to the complex formula for the average head
grade. The simplified formula for general ore which comprises 97%
of the Mineral Reserve is NSR $/t = 26.091 x Cu% + 0.196 x Ag_g//t
+ 30.773 x Au_g/t.
- Mineral Reserves
account for unplanned mining dilution and ore loss that varies by
orebody dimension and experience per mining block area, which on
average were 8.1% for unplanned ore loss and 7.3% for unplanned
dilution.
- Mineral Reserves
account for planned mining dilution and mining recovery through
stope optimization and stope design. The stopes are optimized to
maximize net cash flow within the constraints of dilution and
orebody extractable geometry. The planned dilution and recovery
depend on geotechnical, mineralization continuity controls and ore
zone dimensions.
- All stopes have
been verified that they are profitable after considering the cost
of capital development.
- There is no known
likely value of mining, metallurgical, infrastructure, permitting
or other relevant factors that could materially affect the
estimate. The final one and a half years of operation occurs after
the expiry of the mining concession contract. It is the opinion of
DPM that the mining permit will be extended.
- The Proven Mineral
Reserve includes broken stocks of 58 kt at 2.54 g/t Au, 5.4 g/t Ag
and 0.64% Cu as well as stockpiles of 5 kt at 3.74 g/t Au, 5.0 g/t
Ag and 0.75% Cu.
- Sum of individual
table values may not equal due to rounding.
A three-dimensional block model using 10 metres
(E) x 10 metres (N) x 10 metres (RL) cell dimensions was created.
This model honours wireframe volumes and was based on geological
interpretations of the mineralization. Grade estimation of economic
elements of interest, namely copper, gold and silver were
completed, with the addition of potentially deleterious elements
(sulphur and arsenic) using ordinary kriging. Block tonnage was
estimated from the material in-situ dry bulk density values by
using ordinary kriging where adequate density samples were
available, and from the positive relationship to sulphur grade
where density sampling was limited.
The Mineral Resource estimate has been depleted
by all mining and development work completed as of December 31,
2022 and is reported using a NSR calculation based on assumed
long-term metal prices, current operating costs and metal revenue
to meet the “reasonable prospects for eventual economic extraction”
criteria.
Measured and Indicated Mineral Resources,
exclusive of Mineral Reserves, increased by 2.7Mt compared with
2021, as a result of changes to NSR parameters, grade estimation
and interpretation, partly offset by conversion to Mineral
Reserves.
The Mineral Resource estimate is shown below and
is effective as at December 31, 2022:
Chelopech Mineral Resource Estimate, exclusive of Mineral
Reserves(As at December 31, 2022) |
Classification |
Tonnes |
Gold |
Silver |
Copper |
|
(Mt) |
Grade (g/t) |
Moz. |
Grade (g/t) |
Moz. |
Grade (%) |
Mlbs. |
Measured |
8.5 |
2.54 |
0.695 |
8.57 |
2.344 |
0.83 |
156 |
Indicated |
7.9 |
2.39 |
0.609 |
10.06 |
2.566 |
0.71 |
125 |
Total Measured & Indicated |
16.4 |
2.47 |
1.303 |
9.29 |
4.909 |
0.78 |
281 |
Inferred |
4.4 |
1.93 |
0.276 |
8.57 |
1.225 |
0.70 |
69 |
Footnotes:
- The Mineral Resources disclosed herein have been estimated in
accordance with the CIM Definition Standards for Mineral Resources
and Mineral Reserves (CIM, 2014).
- Tonnages are rounded to the nearest 0.1 million tonnes to
reflect that this is an estimate.
- Metal content is rounded to the nearest 1 thousand ounces or 1
million pounds to reflect that this is an estimate.
- The Mineral Resources are reported exclusive of Mineral
Reserves.
- Metal prices assumed for the evaluation of the Mineral
Resources are $1,700/oz. for gold, $17.00/oz. for silver, and
$3.75/lb. for copper.
- Mineral Resources are based on a NSR less costs cut-off value
of US$0/t in support of reasonable prospects of eventual economic
extraction. The total cost applied was approximately $55/t which is
a sum of operational costs of approximately $50/t and sustaining
capital of approximately $5/t.
- All blocks include a complex NSR (Net Smelter Return) formula
that differs for the three ore types. The NSR formula utilises long
term metal price, metallurgical recoveries, payability terms.
treatment charges, refining charges, penalty charges, concentrate
transport costs, and royalties. For clarity of understanding of ore
value, a simplified formula is presented here for the Measured and
Indicated Resource where NSR US$/t = 33.870 x Cu % + 0.171 x Ag g/t
+ 37.937 x Au g/t.
Life of Mine Plan
The table below shows the updated LOM plan,
reflecting the updated Mineral Reserve estimate. The updated LOM
plan adds approximately 24,000 oz. of gold production and 9 Mlbs.
of copper production between 2023 and 2031, relative to the
previous mine plan outlined in the news release “Dundee Precious
Metals Provides Updated Mineral Resource and Mineral Reserve
Estimates for the Chelopech Mine in Bulgaria” dated March 31,
2022.
The tables below show the current LOM plan
compared to the previous 2022 LOM plan.
Current 2023 Life of Mine Plan |
|
Unit |
Total / Average |
2023 |
2024 |
2025 |
2026 |
2027 |
2028 |
2029 |
2030 |
2031 |
Total Ore
Processed |
Mt |
18.2 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
0.6 |
Grade |
|
|
|
|
|
|
|
|
|
|
|
Au |
g/t |
2.64 |
2.84 |
2.93 |
2.99 |
2.76 |
2.52 |
2.27 |
2.89 |
2.16 |
1.91 |
Cu |
% |
0.77 |
0.84 |
0.72 |
0.80 |
0.69 |
0.84 |
0.75 |
0.82 |
0.74 |
0.75 |
Recoveries – Copper Concentrate |
|
|
|
|
|
|
|
|
|
|
|
Au |
% |
52.6 |
55.8 |
56.2 |
55.6 |
54.4 |
41.5 |
55.5 |
49.6 |
52.2 |
48.2 |
Cu |
% |
84.4 |
83.5 |
83.4 |
83.6 |
85.3 |
84.2 |
86.0 |
84.2 |
86.6 |
78.2 |
Recoveries – Pyrite concentrate |
|
|
|
|
|
|
|
|
|
|
|
Au |
% |
24.9 |
24.1 |
24.2 |
24.4 |
24.8 |
25.8 |
25.8 |
24.7 |
26.1 |
24.8 |
Total Au
Production |
K oz. |
1,202 |
160 |
167 |
169 |
155 |
120 |
131 |
152 |
120 |
28 |
Total Cu Production |
Mlbs. |
289 |
37 |
32 |
36 |
32 |
38 |
34 |
37 |
34 |
9 |
|
|
|
|
|
|
|
|
|
|
|
|
Previous 2022 Life of Mine Plan |
|
Unit |
Total / Average |
2023 |
2024 |
2025 |
2026 |
2027 |
2028 |
2029 |
2030 |
Total Ore Processed |
Mt |
17.1 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
2.2 |
1.71 |
Grade |
|
|
|
|
|
|
|
|
|
|
Au |
g/t |
2.69 |
2.73 |
2.94 |
2.94 |
2.63 |
2.71 |
2.56 |
2.53 |
2.47 |
Cu |
% |
0.80 |
0.90 |
0.82 |
0.78 |
0.76 |
0.74 |
0.81 |
0.91 |
0.62 |
Recoveries – Copper Concentrate |
|
|
|
|
|
|
|
|
|
|
Au |
% |
54.4 |
55.8 |
57.8 |
58.3 |
55.6 |
56.5 |
50.9 |
55.3 |
40.4 |
Cu |
% |
84.9 |
84.0 |
84.3 |
85.5 |
84.7 |
84.8 |
85.3 |
87.2 |
82.6 |
Recoveries – Pyrite concentrate |
|
|
|
|
|
|
|
|
|
|
Au |
% |
25.0 |
25.3 |
25.0 |
24.8 |
25.1 |
24.1 |
25.6 |
25.9 |
24.2 |
Total Au Production |
K oz. |
1,177 |
157 |
172 |
173 |
150 |
155 |
138 |
145 |
88 |
Total Cu Production |
Mlbs. |
280 |
37 |
33 |
32 |
31 |
30 |
34 |
39 |
19 |
|
|
|
|
|
|
|
|
|
|
|
Three-Year Outlook
The updated Mineral Reserve estimate is in-line
with the Company’s previously issued 2023 guidance and three-year
outlook for Chelopech, as shown below.
|
2022 Results |
2023 Guidance |
2024 Outlook |
2025 Outlook |
Metals contained in concentrate produced |
|
|
|
|
Gold (K oz.) |
179 |
150 – 170 |
160 – 180 |
160 – 185 |
Copper (Mlbs.) |
31 |
30 – 35 |
29 – 34 |
29 – 34 |
Cost of sales per tonne of ore processed(1) ($/t) |
63 |
N/A |
N/A |
N/A |
Cash cost per tonne of ore processed(1) ($/t) |
50 |
53 – 58 |
N/A |
N/A |
Sustaining capital expenditures ($ millions) |
$24 |
20 – 24 |
14 – 18 |
12 – 15 |
- Cost of
sales per tonne of ore processed represents Chelopech cost of sales
divided by the volume of ore processed. Cash cost per tonne of ore
processed is a non-GAAP ratio and has no standardized meaning under
International Financial Reporting Standards (“IFRS”) and may not be
comparable to similar measures presented by other companies. Refer
to the “Non-GAAP Financial Measures” section contained in the
Company’s Management’s Discussion and Analysis (the “MD&A”) for
the year ended December 31, 2022 commencing at page 44, which is
available on the Company’s website at www.dundeeprecious.com and on
SEDAR at www.sedar.com, for a detailed description and
reconciliation of this measure to the most directly comparable
measure under IFRS.
For more information regarding the Company’s
2023 guidance and three-year outlook, including key assumptions,
qualifications and risks associated thereto, refer to the MD&A
for the year ended December 31, 2022, issued on February 16, 2023,
available on the Company’s website at www.dundeeprecious.com and on
SEDAR at www.sedar.com.
Further extending mine life through
additional in-mine and brownfield exploration
DPM continues to aggressively focus on extending
Chelopech’s mine life through its successful in-mine exploration
program and a growing brownfield exploration program, which for
2023 includes:
-
Approximately 44,000 metres of in-mine drilling for Mineral
Resource development with particular focus on the upper levels of
Blocks 103, 150, 151 and 153, Target 11 and Target 147 zones (see
Figure 1).
-
Approximately 50,000 metres of brownfield exploration, aiming to
test conceptual targets on the Brevene exploration licence, which
surrounds the Sveta Petka exploration licence, as well as in the
Chelopech mine concession (see Figure 1).
The brownfield exploration program is designed
to follow-up on conceptual targets on the mine concession,
including testing for deeper and lateral extensions of the
Chelopech deposit, as well as targets on the Brevene exploration
licence.
A focused infill drilling program is planned at
Sharlo Dere, which is located on the east flank of the mine. The
planned drilling will be used to potentially support the inclusion
of this prospect within subsequent Mineral Resource estimates for
the Chelopech mine. Additionally, extensional drilling will test
the Target 11 and Sharlo Dere Deeps targets, both of which are
under-explored and demonstrate strong potential to host additional
mineral resources.
In March 2023, the Company filed a Commercial
Discovery application with the Bulgarian authorities for the Sveta
Petka exploration licence, which includes the Wedge, West Shaft,
Krasta and Petrovden prospects. The Sveta Petka exploration licence
is expected to be registered as a Commercial Discovery by the end
of 2023 and subsequent to that, the Company intends to apply for
concession rights in 2024.
In line with DPM’s 2023 guidance, the Company
has budgeted between $5 million to $6 million on in-mine
exploration activities at Chelopech, and $5 million to $6 million
for brownfields exploration activities.
Figure 1: Plan view of the Chelopech mining
concession and Sveta Petka and Brevene exploration licences,
indicating target zones for DPM’s 2023 in-mine and brownfield
exploration program is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cbfc42ee-214e-456c-9775-a224cf0f1603.
Technical Information
The Mineral Resource and Mineral Reserve
estimates for the Chelopech mine and other scientific and technical
information which supports this news release was prepared by DPM
with review and guidance at various stages provided by CSA Global
(UK) Ltd. (“CSA Global”). The Qualified Persons (“QP”) are
satisfied as to the appropriateness and quality of the technical
work completed and accept responsibility for the disclosure, in
accordance with Canadian regulatory requirements set out in
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”). The QP for the Mineral Resource estimate is
Galen White, BSc, FAusIMM, Partner and Principal Consultant of CSA
Global (UK) Limited, and the QP for the Mineral Reserve estimate is
Andrew Sharp, B.Eng. (Mining), P.Eng. (BC), FAusIMM, Associate
Principal Mining Engineer of CSA Global. Both Galen White and
Andrew Sharp are Qualified Persons as defined under NI 43-101, and
are independent of the Company.
Ross Overall, Corporate Mineral Resource
Manager, of the Company, who is a QP, as defined under NI 43-101,
has reviewed and approved the contents of this news release.
About Dundee Precious Metals Inc.
Dundee Precious Metals Inc. is a Canadian-based
international gold mining company with operations and projects
located in Bulgaria, Namibia, Ecuador and Serbia. The Company’s
purpose is to unlock resources and generate value to thrive and
growth 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:
David RaePresident and Chief Executive OfficerTel:
(416) 365-5092drae@dundeeprecious.com |
|
Jennifer CameronDirector, Investor RelationsTel:
(416) 219-6177jcameron@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 news release relate to, among other things; the estimation
of Mineral Reserves and Mineral Resources and the realization of
such mineral estimates; the LOM; production, processing and
recoveries forecasts; financial metrics, including those set out in
the three-year outlook provided by the Company; success of
exploration activities, the price of gold, copper, and silver, and
other commodities; and successful registration of the Sveta Petka
exploration licence as a Commercial Discovery. Forward Looking
Statements are based on certain key assumptions and the opinions
and estimates of management and the QPs, 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. In addition to factors already discussed in this news
release, such factors include, among others, risks relating to the
Company’s business, including possible variations in ore grade and
recovery rates; uncertainties inherent to the conclusions of
economic evaluations and economic studies; changes in project
parameters, including schedule and budget, as plans continue to be
refined; uncertainties with respect to actual results of current
exploration activities; uncertainties and risks inherent to
developing and commissioning new mines into production, which may
be subject to unforeseen delays; uncertainties inherent to the
estimation of Mineral Reserves and Mineral Resources, which may not
be fully realized; 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; the impact of the conflict in the Ukraine and
COVID-19, including resulting changes to the Company’s supply chain
and costs of supplies; product shortages; delivery and shipping
issues; closures and/or failure of plant, equipment or processes to
operate as anticipated; employees and contractors become infected
with COVID-19 or being affected by the war; lost work hours; labour
force shortages; fluctuations in metal and acid prices, toll rates
and foreign exchange rates; limitation on insurance coverage;
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; actual
results of current and planned reclamation activities; opposition
by social and non-government organizations to mining projects and
smelting operations; unanticipated title disputes; claims or
litigation; cyber attacks and other cybersecurity risks; as well as
those risk factors discussed or referred to in any other documents
(including without limitation the Chelopech Technical Report and
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.sedar.com.
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.
Cautionary Note to United States
Investors Concerning Estimates of Mineral Reserves and Mineral
Resources
The Mineral Reserve and Mineral Resource
estimates presented in this news release have been prepared in
accordance with the requirements of Canadian securities laws, which
differ from the requirements of United States securities laws.
Canadian reporting requirements for disclosure of mineral
properties are governed by NI 43-101.
The United States Securities and Exchange
Commission (“SEC”) adopted amendments to its disclosure rules to
modernize the mineral property disclosure requirements for issuers
whose securities are registered with the SEC under the Securities
Exchange Act of 1934, as amended. These amendments became effective
February 25, 2019 (the “SEC Modernization Rules”) with compliance
required for the first fiscal year beginning on or after January 1,
2021. The SEC Modernization Rules replace the historical disclosure
requirements for mining issuers that were included in SEC Industry
Guide 7. As a result of the adoption of the SEC Modernization
Rules, the SEC now recognizes estimates of “measured mineral
resources”, “indicated mineral resources” and “inferred mineral
resources”. In addition, the SEC has amended its definitions of
“proven mineral reserves” and “probable mineral reserves” to be
“substantially similar” to the corresponding Canadian Institute of
Mining, Metallurgy and Petroleum (“CIM”) – Definition Standards
adopted by CIM Council on May 10, 2014 (the “CIM Definition
Standards”), incorporated by reference in NI 43-101.
Readers are cautioned that while the above terms
are “substantially similar” to the corresponding CIM Definition
Standards, there are differences in the definitions under the SEC
Modernization Rules and the CIM Definition Standards. Accordingly,
there is no assurance any Mineral Reserves or Mineral Resources
that the Company may report as “proven mineral reserves”, “probable
mineral reserves”, “measured mineral resources”, “indicated mineral
resources” and “inferred mineral resources” under NI 43-101 would
be the same had the Company prepared the reserve or resource
estimates under the standards adopted under the SEC Modernization
Rules.
Readers are also cautioned that while the SEC
will now recognize “measured mineral resources”, “indicated mineral
resources” and “inferred mineral resources”, it should not be
assumed that any part or all of the mineralization in these
categories will ever be converted into a higher category of Mineral
Resources or into Mineral Reserves. Mineralization described using
these terms has a greater amount of uncertainty as to their
existence and feasibility than mineralization that has been
characterized as reserves. Accordingly, readers are cautioned not
to assume that any “measured mineral resources”, “indicated mineral
resources” or “inferred mineral resources” that the Company reports
are or will be economically or legally mineable. Further, “inferred
mineral resources” have a greater amount of uncertainty as to their
existence and as to whether they can be mined legally or
economically. Therefore, readers are also cautioned not to assume
that all or any part of the “inferred mineral resources” exist. In
accordance with Canadian securities laws, estimates of “inferred
mineral resources” cannot form the basis of feasibility or other
economic studies, except in limited circumstances where permitted
under NI 43-101.
For the above reasons, information contained in
this news release containing descriptions of the Company’s mineral
deposits may not be comparable to similar information made public
by United States companies subject to the reporting and disclosure
requirements under the United States federal securities laws and
the rules and regulations thereunder.
Dundee Precious Metals (TSX:DPM)
Historical Stock Chart
From May 2024 to Jun 2024
Dundee Precious Metals (TSX:DPM)
Historical Stock Chart
From Jun 2023 to Jun 2024