January 13 (SeeNews) - Canada-based Dundee Precious Metals (DPM) expects about 16,500 ounces of additional gold production per year on average from its Ada Tepe gold mine in Bulgaria for 2023 through 2026, it said, unveiling an improved life of mine (LOM) plan.
In the LOM plan published on Thursday the company points to an estimated increase in recovered gold to concentrate of about 66,000 ounces and higher average gold grade of 5.2 grams per tonne, compared with 4.6 grams per tonne in the previous plan published in 2020.
Dundee said the updated proven and probable mineral reserve for Ada Tepe comprise 415,000 contained gold ounces and 250,000 contained silver ounces. This compares with 343,000 gold ounces and 234,000 silver ounces in the previous plan.
The company has recently said that its Ada Tepe mine produced 28,100 ounces of gold in the fourth quarter of 2022 and about 94,000 ounces of gold in the full year.
Dundee, which operates a second Bulgarian mine, Chelopech, and is also active in Namibia, Ecuador and Serbia, will publish its fourth-quarter and 2022 financial results on February 16. The company plans to provide an improved three-year outlook for gold production as well, it said.