Dundee Precious Metals Inc T.DPM

Dundee Precious Metals Announces 2021 Third Quarter Results

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Third Quarter Financial and Operating Highlights:

• Metals production tracking well to meet 2021 guidance – Produced 71,755 ounces of gold and 8.3 million pounds of copper. On track to meet 2021 metals production guidance;
• Continued focus on cost performance at all operations – Achieved an all-in sustaining cost per ounce of gold(1) of $701 and a cash cost per tonne of complex concentrate smelted(1) of $393. Year-to-date all-in sustaining cost per ounce of gold of $621 was below the low end of the guidance;
• Strong free cash flow – Continued to generate significant free cash flow during the quarter, achieving $41.0 million in cash flow from operating activities and $68.5 million of free cash flow(1);
• Solid quarterly earnings – Generated net earnings attributable to common shareholders from continuing operations of $50.4 million and adjusted net earnings(1) of $52.5 million or $0.28 per share;
• Growing financial strength – Ended the quarter with $269.5 million in cash and short term investments, an undrawn $150 million long-term revolving credit facility (“RCF”), as well as an investment portfolio of $48.5 million and no debt;
• Returning cash to shareholders – Declared third quarter dividend of $0.03 per common share payable on January 15, 2022 to shareholders of record on December 31, 2021 and repurchased 1,571,500 common shares under the Normal Course Issuer Bid (“NCIB”); and
• Acquisition of a high-quality development project – Completed acquisition of INV Metals Inc. (“INV”) during the quarter, adding Loma Larga, a gold development project with robust economics located in Ecuador.

https://www.globenewswire.com/news-release/2021/11/11/2333034/0/en/Dundee-Precious-Metals-Announces-2021-Third-Quarter-Results-Delivers-Another-Quarter-of-Strong-Free-Cash-Flow.html