The following is a summary of the Dundee Precious Metals Inc. (DPMLF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Dundee Precious Metals reported production of about 63,000 ounces of gold and 7 million pounds of copper in Q1 2024, with all-in sustaining costs of $883 per ounce.

• The company generated a strong free cash flow of $62 million and ended Q1 with a consolidated cash balance of $626 million.

• The company also repurchased 253,000 shares for a total cost of $1.9 million besides paying $7.2 million in dividends.

• The lighter share buyback was due to legal restrictions as the company was setting up the Smeal.

• The buildup in accounts receivable in Q1 was due to back-end weighted production, a situation not expected to recur.

Business Progress:

• The company announced the sale of Tsumeb smelter's assets and liabilities to Sinomine in March.

• A preliminary economic assessment confirmed the Coka Rakita project's high attractiveness, with construction scheduled to begin in mid-2026.

• There is a focus on prioritizing M&A opportunities in potentially profitable regions.

• Drilling programs in Serbia are ongoing, based on positive results received in February.

• Progress is being reported on the Loma Larga project in Ecuador regarding stakeholder relations and permit-related activities.

• The company renewed its share buyback program, with potential for a continuation and acceleration of buybacks.

• Exploration, especially at the Chelopech underground mine, remains a priority for the company.

More details: DUNDEE PRECIOUS METALS INC IR

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