Strong Financial Performance
Dundee Precious Metals reported a revenue of $144 million in the quarter, higher than the prior year due to higher realized metal prices. Adjusted net earnings were $55 million, or $0.32 per share, an increase from the previous year.
Robust Free Cash Flow
The company generated approximately $79 million in free cash flow during the quarter, further strengthening their financial capacity.
Share Buyback Program
A record 7.5 million shares were repurchased at a total cost of $83 million, returning an aggregate of 114% of free cash flow to shareholders in the first quarter.
Operational Success at Chelopech
Chelopech produced approximately 37,000 ounces of gold and 5.9 million pounds of copper with an all-in sustaining cost of $673 per ounce of gold sold.
Exploration Success
Strong exploration results from Serbia, particularly at Dumitru Potok, where drilling confirmed a large high-grade copper, gold, and silver skarn system.