DPM Starts Hot Commissioning of Krumovgrad Gold Mine in Bulgaria

DPM Starts Hot Commissioning of Krumovgrad Gold Mine in Bulgaria

Canada's Dundee Precious Metals (DPM) said that the hot commissioning of its Krumovgrad gold project in Southeastern Bulgaria began in January and first concentrate production is expected within the first quarter of 2019. Commercial production is expected in the second quarter of the year, DPM said in a statement.Gold contained in concentrate produced is expected to be between 55,000 and 75,000 ounces in 2019. "There is significant operating flexibility during ramp-up given the various grades of current stockpiles at Krumovgrad, which is expected to reduce the impact of potential delays in ramp-up," DPM explained. By the end of 2018, when 92% of construction works were completed, capital investment amounted to $139 million (123 million euro). The aggregate cost of the project is expected to be between $164 million and $168 million, a bit lower than the original estimate of $178 million.

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