Dundee Precious Metals Advances Krumovgrad Gold Project, Bulgaria
[Click image to enlarge]
Dundee Precious Metals Inc. has advanced its Krumovgrad gold project located in southern Bulgaria.
Updates to the project include a capital estimate of $178 million and updated cash cost estimate of $403/oz gold. Project economics remain robust with a 25 percent after-tax IRR at $1,250/oz gold and $15.00/oz silver. The construction permit and financing plan remain on track to commence construction in Q3 2016.
“The updated economics on Krumovgrad continue to support the commercial and economic viability of the project and enables DPM Bulgaria to build on the success we have already built at Chelopech. This update reflects the substantial completion of all of the engineering and updated contractor and equipment pricing, along with completed execution and operational readiness plans. We have also made significant advances in the project permitting process with only the issuing of the final construction permit remaining which we expect by mid-2016. Subject to completion of financing arrangements and board approval, construction could commence as early as Q3 2016 with first production scheduled in the second half of 2018. We are proud of the great progress and work done to obtain community and government support in Bulgaria for this important project and the benefits it will bring to all stakeholders,” said Rick Howes, president and CEO of Dundee Precious Metals.
To read more details in the company’s press release, CLICK HERE
About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition of mineral properties, exploration, development, mining and processing of precious metals. The company’s continuing operating assets include the Chelopech operation, which produces a copper concentrate containing gold and silver and a pyrite concentrate containing gold, located east of Sofia, Bulgaria; and the Tsumeb smelter, a complex copper concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold and exploration properties located in Bulgaria, Serbia, and northern Canada, including the Krumovgrad project and its 10.7 percent interest in Sabina Gold & Silver Corp.
To stop by Dundee Precious Metals’ website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2016 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
