Dundee Precious Metals Announces Third Quarter Production Results and Timing of Third Quarter 2017 Financial Results
DUNDEE PRECIOUS METALS ANNOUNCES
THIRD QUARTER PRODUCTION RESULTS AND
TIMING OF THIRD QUARTER 2017 FINANCIAL RESULTS
Toronto, Ontario, October 11, 2017 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or the
“Company”) announced its mine and smelter production results for the three and nine months
ended September 30, 2017, and confirmed the timing of the release of third quarter 2017
operating and financial results, together with the related conference call and webcast.
“We are pleased with our third quarter results given continued strong production from Chelopech,
improved stability from Tsumeb, and construction progress at Krumovgrad, which remains on
track for first gold production in the fourth quarter of 2018 ,” stated Rick Howes, President and
CEO.
On a consolidated basis, o re milled, metals production and complex concentrate smelted in the
first nine months of 2017 are tracking in line with the Company’s improved annual guidance.
Production Highlights
Third quarter and year-to-date 2017 mine and metals production at the Chelopech mine and
complex concentrate smelted at the Tsumeb smelter are provided below.
1. As disclosed in Management’s Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2017.
Chelopech gold and copper production during the third quarter was as expected, and in line with
the mine plan and Chelopech remains on track to achieve our improved 2017 guidance.
The smelter continues to demonstrate improved performance and stability with third quarter
concentrate smelted in line with the previous quarter, despite reduced oxygen availability from
the high pressure oxygen plant. The near t erm focus is on improving availability of the high
pressure oxygen plant, which once achieved, will support smelting rates at targeted levels and is
expected by mid-late October. The Ausmelt furnace, converters and matte holding furnace are
Chelopech Tsumeb Year 2017 Consolidated
Guidance 1
Q3
2017
YTD
2017
Q3
2017
YTD
2017
Ore milled (‘000s tonnes) 565.7 1,691.1 - - 2,040 – 2,200
Metals contained in concentrate produced
Gold (‘000s ounces) 48.4 148.3 - - 173 - 187
Copper (million pounds) 9.5 26.3 - - 35 – 39
Payable metals in concentrate sold
Gold (‘000s ounces) 41.9 123.1 - - 147 - 163
Copper (million pounds) 9.4 24.4 - - 33 – 36
Complex concentrate smelted (‘000s tonnes) - - 58.0 160.3 210 - 240
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delivering per design and annual complex concentrate smelted is expected to achieve the mid-
point of our guidance.
At Krumovgrad, earthworks in the process plant area were completed in the third quarter, and
installation of major foundations commenced. Earthworks relating to the construction of the
Integrated Mine Waste Facility and installation of major equipment foun dations will continue
through the fourth quarter. The project remains within budget and is on track for commencement
of commercial operations in the fourth quarter of 2018.
Third Quarter Results
The Company’s third quarter 2017 operating and financial results are expected to be released
after market close on Tuesday, November 7, 2017. The press release, MD&A and consolidated
financial statements will be posted on SEDAR at www.sedar.com and on the Company’s website
at www.dundeeprecious.com.
The Company will hold a call and webcast to discuss its third quarter results on Wednesday,
November 8, 2017 at 9:00 am EST. The call will be hosted by Rick Howes, President and Chief
Executive Officer, who will be joined by Hume Kyle, Executive Vice President and Chief Financial
Officer, together with other members of the executive management team. The call will be
accessible via a live webcast and by telephone.
Third Quarter 2017 Call and Webcast (Listen/View only)
Date: Wednesday, November 8, 2017
Time: 9:00 am EST
Webcast: http://edge.media-server.com/m/p/zun7gby2
Canada and USA Toll Free: 1-844-264-2104
Outside Canada or USA: 1-270-823-1169
Replay: 1-855-859-2056
Replay Passcode: 95336692
About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged
in the acquisition of mineral propert ies, exploration, development, mining and processing of
precious metals. The Company's operating assets include the Chelopech operation, which
produces a copper concentrate containing gold and silver and a pyrite concentrate containing
gold, located east o f 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, Armenia and Canada, including th e
Krumovgrad gold project, which started construction in the fourth quarter of 2016 and is expected
to commence production in the fourth quarter of 2018, and its 10.4% interest in Sabina Gold &
Silver Corp.
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward looking statements” that involve a number of risks and
uncertainties. Forward looking statements include, but are not limited to, statements with respect
to the future price of gold, copper, zinc, silver and acid, future toll rates, the estimation of mineral
reserves and resources, the realization of such mineral estimates, the timing and amount of
estimated future production and output, life of mine, costs of production, cash costs and other
cash measures, capital expenditures, costs and timing of the development of new deposits,
success of exploration activities, success of permitting activities, permitting time lines, currency
fluctuations, requirements for additional capital, government regulation of mini ng operations,
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environmental risks, reclamation expenses, the potential or anticipated outcome of title disputes
or claims and timing and possible outcome of pending litigation. Often, but not always, forward
looking statements can be identified by the use of words such as “plans”, “expects”, or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”,
“anticipates”, or “does not anticipate”, or “believes”, or variations of such words and phrases or
that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken,
occur or be achieved. Forward looking statements are based on the opinions and estimates of
management as of the date such statements are made and they involve kno wn and unknown
risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any other future results, performance
or achievements expressed or implied by the forward l ooking statements. Such factors include,
among others: the actual results of current exploration activities; actual results of current
reclamation activities; conclusions of economic evaluations and economic studies; changes in
project parameters as plans continue to be refined; future prices of gold, copper, zinc, silver and
acid; future toll rates; possible variations in ore grade or recovery rates; failure of plant, equipment
or processes to operate as anticipated; accidents, labour disputes and other ri sks of the mining
industry; delays in obtaining governmental approvals or financing or in the completion of
development or construction activities, uncertainties inherent with conducting business in foreign
jurisdictions where corruption, civil unrest, political instability and uncertainties with the rule of law
may impact the Company’s activities; fluctuations in metal and acid prices, toll rates and foreign
exchange rates; unanticipated title disputes; claims or litigation; limitation on insurance coverage;
cyber attacks; as well as those risk factors discussed or referred to in the Company’s MD&A under
the heading “Risks and Uncertainties” and under the heading “Cautionary Note Regarding
Forward Looking Statements” which include further details on materia l assumptions used to
develop such forward looking statements and material risk factors that could cause actual results
to differ materially from forward looking statements, and other documents (including without
limitation the Company’s 2016 AIF) filed from time to time with the securities regulatory authorities
in all provinces and territories of Canada and available on SEDAR at www.sedar.com. There can
be no assurance that forward looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Unless required
by securities laws, the Company undertakes no obligation to update forward looking statements
if circumstances or management’s estimates or opinions should change. Accordingly, readers are
cautioned not to place undue reliance on forward looking statements.
For further information please contact:
DUNDEE PRECIOUS METALS INC.
Rick Howes
President and
Chief Executive Officer
Tel: (416) 365-2836
Janet Reid
Manager, Investor Relations
Tel: (416) 365-2549