DUNDEE PREC METALS COM NPV (OTCMKTS:DPMLF)
Shares of DUNDEE PREC METALS COM NPV (OTCMKTS:DPMLF) were down almost 10% today on volumes over seven times their 30-day daily averages. Dundee, based in Canada, acquires, explores, develops, mines and processes precious metals. The company pursues their corporate goals through the operations of three subsidiaries – Dundee Precious Metals Chelopech, Dundee Precious Metals Krumovgrad, and Dundee Precious Metals Tsumeb. In early 2016, DUNDEE PREC METALS COM NPV (OTCMKTS:DPMLF) acquired Avala Resources and its three Serbian-based exploration projects – Lenovac, Timok, and Tulare.
DUNDEE PREC METALS COM NPV (OTCMKTS:DPMLF) lone development project is in Krumovgrad, Bulgaria. The proposed mine site is located at Ada Tepe, is in southeastern Bulgaria approximately three kilometers from the Bulgarian town of Krumovgrad. The project plan calls for the construction of an open pit mining operation that includes a process plant, which will employ conventional crushing, grinding and flotation processing for gold extraction, and the disposal of thickened tailings, together with mine rock waste, in an integrated mine waste facility. An updated capital estimate and optimized mine plan, completed in March 2014, continue to support the construction and operation of this project. The plant is designed to treat up to 840,000 tons of ore per annum over an eight-year mine life, including processing stockpiled low-grade ore at the end of the project.
DUNDEE PREC METALS COM NPV (OTCMKTS:DPMLF) has two mines in current operation located in Chelopech, Bulgaria and Tsumeb, Namibia. The Chelopech mine is located in central-western Bulgaria approximately 70 kilometers east of Sofia, the national capital. The deposit lies in the northern part of the Panagyurishte mining district where a number of copper-bearing massive sulphide and porphyry copper deposits exist. The mining license covers an area of 266 hectares and includes the area of the Chelopech mining operation and the immediate surrounding areas. Dundee Precious Metals owns the land upon which the facilities are constructed and operates under a concession agreement that was granted by the Republic of Bulgaria in 1999 for a period of 30 years. In March 2010 DUNDEE PREC METALS COM NPV (OTCMKTS:DPMLF) completed the acquisition of Namibia Custom Smelters (Pty) Ltd, a metals processing and smelting operation from Weatherly Mining International Plc. The smelter is one of only a few in the world which is able to treat complex copper concentrates that contain arsenic and is therefore able to conclude long term favorable contracts to treat such concentrates. The facility consists of one Ausmelt TSL furnace, two Peirce Smith Converters, a sulphuric acid plant, a slag milling and flotation plant and an arsenic trioxide production plant. The smelter employs approximately 700 people.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance