Dundee Precious Metals Inc. (TSX: DPM) 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:

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.

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.