“Company”) announced its operating and financial results for the quarter and year ended December 31, 2023.

Highlights

(Unless otherwise stated, all monetary figures in this news release are expressed in U.S. dollars , an d all operational and financial information contained in this news release is related to continuing operations.)

Strong metals production: Produced 296,072 ounces of gold and 30.5 million pounds of copper, in line with 2023 guidance.
All-in sustaining cost: Reported cost of sales per ounce of gold sold 1 of $919 and an all-in sustaining cost per ounce of gold sold 2 of $849, in line with 2023 guidance.
Significant free cash flow: Generated $261.6 million of cash provided from operating activities and free cash flow 2 of $227.9 million.
Solid adjusted net earnings: Reported net earnings of $182.0 million ($0.98 per share) and adjusted net earnings 2 of $180.0 million ($0.97 per share 2 ).
Growing financial position: Ended the year with a strong balance sheet, including $595.3 million of cash, a $150.0 million undrawn revolving credit facility, and no debt.
Return of capital to shareholders: Returned $95.8 million, or 42% of free cash flow, to shareholders during 2023 through dividends paid and shares repurchased. Declared fourth quarter dividend of $0.04 per common share payable on April 15, 2024 to shareholders of record on March 31, 2024.
Strong sustainability performance: DPM scored in the 91st percentile among metals and mining companies in the 2023 S&P Global Corporate Sustainability Assessment for the third consecutive year, and was included in the 2024 Sustainability Yearbook.
Chelopech life of mine ("LOM") plan: Updated Mineral Reserve and Mineral Resource estimate and LOM plan with improved grades and recoveries support a mine life that now extends to 2032.
Strong 2024 guidance and updated three-year outlook: 2024 production expected to be between 245,000 and 285,000 ounces of gold at an all-in sustaining cost of between $790 to $930 per ounce of gold sold.
Strategic review of the Tsumeb smelter: DPM has decided to undertake a strategic review of the Tsumeb smelter, including a potential sale, as the smelter is no longer seen as strategic to DPM's asset portfolio.
Acquisition of Osino: On December 18, 2023, DPM announced an agreement to acquire Osino Resources Corp. ("Osino"), which holds the advanced-stage Twin Hills gold project. Completion of the acquisition remains subject to certain customary conditions, including approval of Osino securityholders and regulatory approval under the Namibia Competition Act.
?oka Rakita: In December 2023, announced a maiden Mineral Resource estimate ("MRE") of 1.78 million ounces for the ?oka Rakita project in Serbia and continues to advance the preliminary economic assessment ("PEA"), which is on-track for completion in Q2 2024. DPM is continuing the drilling program focused on extending the limits of ?oka Rakita, which remains open to the northeast and southwest, and is also aggressively pursuing additional skarn targets on four licences.
Loma Larga: At the Loma Larga project in Ecuador, progressed activities related to permitting and stakeholder relations.
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1 Cost of sales per ounce of gold sold represents total cost of sales for Chelopech and Ada Tepe, divided by total payable gold in concentrate sold, while all-in sustaining cost per ounce of gold sold includes treatment and freight charges, net of by-product credits, all of which are reflected in revenue.
2 All-in sustaining cost per ounce of gold sold, free cash flow, adjusted net earnings and adjusted basic earnings per share are non-GAAP financial measures or ratios. These measures have no standardized meanings under IFRS Accounting Standards (“IFRS”) and may not be comparable to similar measures presented by other companies. Refer to the “Non-GAAP Financial Measures” section commencing on page 21 of this news release for more information, including reconciliations to IFRS measures.
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and
Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) today announced that its Board of Directors has declared a first quarter dividend of US$0.04 per common share.

The dividend is payable on April 15, 2024, to shareholders of record as at 5:00 p.m. Toronto local time on March 31, 2024, and qualifies as an “eligible dividend” for Canadian income tax purposes.

Shareholders may elect to receive their dividend in U.S. or Canadian dollars by contacting their broker or, where applicable, Computershare Investor Services Inc., the Company’s registrar and transfer agent. If no election is made, residents of Canada will be paid in Canadian dollars and non-residents of Canada will be paid U.S. dollars. Dividends to be paid in Canadian dollars will be converted to Canadian dollars using the spot exchange rate on April 8, 2024.

Dividends paid to shareholders that are non-residents of Canada are generally subject to withholding tax unless reduced in accordance with the provisions of an applicable tax treaty.

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