SEE-focused DPM says output not negatively affected by COVID-19

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Canada’s Dundee Precious Metals (DPM), active in Bulgaria and Serbia, said that production from its mining and smelting operations has not been negatively impacted by the spread of the coronavirus disease (COVID-19) in the two Southeast European (SEE) countries.

DPM is taking proactive measures to safeguard the health of its workforce and local communities, manage supply chains and address the risks posed by the pandemic, it said in a press release on Wednesday.

The company continues to operate fully in line with previously issued guidance at all sites and has not experienced any disruptions to its production as a result of COVID-19 or any travel restrictions implemented by local governments, it added.

“Most key supplies and consumables for DPM’s operations in Bulgaria are sourced locally, and to date the Company has not experienced any disruption to its inbound supply chain,” DPM said in the press release.

DPM is also focused on managing its outbound supply chains, including concentrate shipments from Bulgaria, by engaging with multiple sale and transportation outlets.

In January, DPM said that it has achieved record-high gold concentrate output of 230,600 ounces from its two Bulgarian mines – Chelopech, located east of Bulgaria’s capital Sofia, and Ada Tepe, located in southern Bulgaria, as the Ada Tepe mine reached full operating capacity in September 2019.

DPM owns 100% of Timok Gold Project in Serbia, which comprises the Bigar Hill, Korkan, Korkan West, and Kraku Pester deposits. In July of last year DPM announced the results of a Preliminary Economic Assessment (PEA) on the Timok Gold Project, assuming open pit mining of approximately 30,000 tonnes per day, which envisages 826,000 ounces of total contained gold at the project.

As of Thursday, there were 242 reported COVID-19 cases in Bulgaria, including three deaths related to the disease as well as three recoveries.

In Serbia the coronavirus cases were 384, including six deaths. Both countries are currently in a state of emergency over the COVID-19 outbreak.

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