Dundee Precious Metals Releases Preliminary Third Quarter Production Results
Dundee Precious Metals has released preliminary production figures for gold and copper for the third quarter and the nine months ending September 30, 2024. The company's Chelopech and Ada Tepe mines are reported to be on track to meet their 2024 production guidance despite some operational challenges.
David Rae, President and CEO of Dundee Precious Metals, stated, "Chelopech continued to deliver strong results, consistent with its long track record. Gold production at Ada Tepe was impacted by temporary operational challenges during the quarter, which have now been resolved. With strong year-to-date results and production expected to increase in the fourth quarter, both mines are on track to achieve 2024 guidance."
Chelopech produced approximately 43,900 ounces of gold and 7.3 million pounds of copper in the third quarter, with gold production in line with expectations and copper output slightly below target. The company remains confident that Chelopech will meet its 2024 production goals.
At Ada Tepe, gold production reached approximately 16,200 ounces during the third quarter, falling short of plans due to lower grades, reduced recoveries, and limited fleet availability. Additionally, low rainfall in the region affected production. Dundee Precious Metals expects increased production in the fourth quarter, as mining operations have shifted to a higher-grade area and challenges with fleet availability have been resolved.
