Following USD 2 billion acquisition: DPM Metals, which is also expanding its operations in Serbia, to debut on stock exchange on September 17

The Canadian mid-range gold miner with projects and operations in Bulgaria, Serbia, Ecuador and Bosnia and Herzegovina is preparing to join the Australian Stock Exchange (ASX) next week, as the value of the yellow metal continues to rise.

Toronto-based Dundee Precious Metals is set to debut on the ASX on September 17 under the new name DPM Metals, following its acquisition of Adriatic Metals worth about USD 2 billion.

It will be a secondary listing for DPM, whose primary listing was on the Toronto Stock Exchange.

DPM’s acquisition of Adriatic Metals was completed on Wednesday, about two months after Adriatic’s Vares silver mine in Bosnia began commercial operations.

– With the addition of the Vares operation, DPM is a leading mining company with a leading growth profile and a high-quality development and exploration pipeline – said DPM President and CEO David Rae.

– We will leverage our underground mining expertise, our regional presence, successful operating results, optimization and project management, and our strong financial position to further optimize and realize the full value potential of Vareš.

Dundee said on July 31 that it had generated USD 94.5 million in free cash flow in the second quarter after producing 61,212 ounces of gold and 6.4 million pounds of copper.

In addition to the Vares operation, it has two operating gold mines in Bulgaria and is developing two more in Ecuador and Serbia.

Its market capitalization this week was about CAD 4.5 billion (USD 5 billion), which would make DPM about the sixth most valuable gold mine on the ASX, behind Persius Mining and Capricorn Metals. It has paid a quarterly dividend since 2020 and also has an active share buyback program.

Gold was trading at USD 3,564 an ounce on Friday, slightly below record highs set earlier this week. Silver also broke through, changing hands above USD 40 for the first time since 2011.

Dundee Precious Metals

DPM

Adriatic Metals

Australian Stock Exchange

ASX

David Rae

Vareš mine

mid range gold mine

gold

copper

silver