Dundee Precious Metals: 1Q Output In Line With Guidance
Dundee Precious Metals (TSX: DPM) lists first-quarter gold production of 46,400 ounces and copper output of 8.2 million pounds, all from Chelopech, adding that output is in line with guidance. Full-year guidance is 157,000 to 174,000 gold ounces and copper output of 33.7 million to 37 million pounds. The company says first-quarter Chelopech gold and copper production was in line with the 2017 mine plan, with the mining sequence expected to result in higher gold and copper production as a result of mining higher-grade zones. Chelopech remains on track to achieve 2017 guidance. However, at the Tsumeb smelter, first-quarter throughput was impacted by the advancement of the Ausmelt shutdown into February from the original May-June timing to correct accelerated refractory wear. "We continue to make good progress on smelter optimization and remain on track with construction at the Krumovgrad gold project," said Rick Howes, president and chief executive officer. "With the advance of the refractory reline at the Ausmelt by one quarter, we identified an opportunity to benefit from an early introduction of the matte holding furnace that will serve to improve performance at the smelter starting in the second quarter of 2017.