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Dundee Precious Metals Inc. (TSX:DPM) announced its results for the second quarter of 2015, commenting that it put out 32,699 ounces of gold and 10.6 million pounds of copper.
Dundee Precious Metals Inc. (TSX:DPM) announced its results for the second quarter of 2015, commenting that it put out 32,699 ounces of gold and 10.6 million pounds of copper.
Other financial and operating highlights include:
- All-in sustaining cost per ounce of gold – Remains below the industry average at $664;
- Smelter – Smelted 53,721 tonnes of complex concentrate in the second quarter. Completed construction of the acid plant and commenced hot commissioning in the quarter, with commercial production of acid expected to commence in the third quarter of 2015;
- Near term growth opportunities progressing – Krumovgrad local permitting advancing, although approval process progressing at a slower pace than planned. Preliminary land redesignation approval was received in late July, and construction permit now expected in early 2016; and
- Financial position – Exited the quarter with approximately $195 million of cash resources, including the undrawn portion of the Company’s long-term revolving credit facility.
Rick Howes, president and CEO of Dundee, commented:
All operations remain on track to meet 2015 guidance. DPM remains below average with respect to all-in sustaining cost per ounce of gold as we benefit from a strong U.S. dollar and a number of productivity and cost saving initiatives. Looking forward, we will continue to focus on optimizing operational performance, reducing costs at each of our operations, and securing the remaining permits for the Krumovgrad Gold Project.
Click here to read the full Dundee Precious Metals Inc. (TSX:DPM) press release.