“2019 was a pivotal year for DPM as we commissioned our second gold mine and generated record consolidated gold production. Our
Production Highlights
Fourth quarter and year end 2019 ore milled and metals produced at Chelopech and
Chelopech | Tsumeb | Consolidated | 2019 Updated Consolidated Guidance(1) | 2019 Original Consolidated Guidance(2) | ||||||
Q4 2019 | Full Year 2019 | Q4 2019 | Full Year 2019 | Q4 2019 | Full Year 2019 | Q4 2019 | Full Year 2019 | |||
Ore milled (‘000s tonnes) | 548 | 2,203 | 217 | 471 | - | - | 765 | 2,674 | 2,542 – 2,662 | 2,540 – 2,790 |
Metals contained in concentrate produced | ||||||||||
Gold (‘000s ounces) | 43.0 | 173.4 | 26.5 | 57.2 | - | - | 69.5 | 230.6 | 200 – 247 | 210- 262 |
Copper (million pounds) | 10.0 | 37.2 | - | - | - | - | 10.0 | 37.2 | 33 – 39 | 33 - 39 |
Payable metals in concentrate sold | ||||||||||
Gold (‘000s ounces) | 43.2 | 152.2 | 38.9 | 49.4 | - | - | 82.1 | 201.6 | 180 – 221 | 191 - 237 |
Copper (million pounds) | 11.4 | 34.5 | - | - | - | - | 11.4 | 34.5 | 32 – 37 | 32 - 37 |
Complex concentrate smelted (‘000s tonnes) | - | - | - | - | - | - | 48.6 | 215.3 | 210 – 230 | 225 - 250 |
- As disclosed in Management’s Discussion and Analysis (“MD&A”) for the period ended
September 30, 2019 , issued onNovember 7, 2019 , that can be found on the Company’s website at www.dundeeprecious.com and available at www.sedar.com. - As disclosed in Management’s Discussion and Analysis (“MD&A”) for the period ended
December 31, 2018 , issued onFebruary 12, 2019 , that can be found on the Company’s website at www.dundeeprecious.com and available at www.sedar.com.
At Chelopech, gold contained in concentrate produced for the fourth quarter was slightly above expectations as a result of mining in higher grade zones and higher gold recoveries in pyrite concentrate. Copper production was also in line with the mine plan. Chelopech continued its strong performance and reliable delivery during the year and achieved 2019 guidance.
Following the successful completion of the planned annual maintenance shutdown in the fourth quarter at Tsumeb, the smelter met its updated guidance for complex concentrate smelted. In addition to ongoing optimization, the smelter has the potential to improve performance in 2020 with the next planned maintenance shutdown scheduled for 2021.
Fourth Quarter Results and Year End 2019 Results
The Company’s fourth quarter and year end 2019 operating and financial results are expected to be released after market close on
The Company will hold a call and webcast to discuss its fourth quarter results on
Fourth Quarter 2019 Call and Webcast (Listen/View only)
Date: | |
Time: | |
Webcast: | https://edge.media-server.com/mmc/p/wzgittuw |
1-844-264-2104 | |
Outside | 1-270-823-1169 |
Replay: | 1-855-859-2056 |
Replay Passcode: | 6439379 |
About
Cautionary Note Regarding Forward Looking Statements
Certain statements and other information included in this press release and our other disclosure documents constitute “forward looking statements” or “forward looking information” within the meaning of applicable securities legislation, which we refer to collectively hereinafter as “Forward Looking Statements”. 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”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, or “does not anticipate”, or “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. The Forward looking statements in this press release relate to, among other things: certain statements with respect to the timing of maintenance activities at Tsumeb; concentrate sales; and the timing and amount of estimated future production and output. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management and Qualified Persons (in the case of technical and scientific information), 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 document, such factors include, among others: any prolonged downtime or shutdowns at the Company’s mining and processing facilities which could have a material adverse impact on the Company’s business, financial condition and results of operations; the uncertainties with respect to the actual results of current exploration activities and optimization work; actual results of current reclamation activities; conclusions of economic evaluations and economic studies; changes in project parameters as plans continue to be refined; 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; uncertainties and risks inherent to developing and commissioning new mines into production, which may be subject to unforeseen delays, costs or other issues; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; 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; social and non-governmental organizations opposition to mining projects; fluctuations in metal and acid prices, toll rates and foreign exchange rates; unanticipated title disputes; claims or litigation; limitation on insurance coverage; cyber-attacks; risks related to the implementation, cost and realization of benefits from digital initiatives; failure to realize projected financial results from
For further information, please contact:
President and Chief Executive Officer Tel: (416) 365-2836 rhowes@dundeeprecious.com |
EVP, Corporate Development Tel: (416) 365-5090 mdorfman@dundeeprecious.com |
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