Business
Dundee Precious Metals Delivers Record Financial and Operating 2021 Results; Three-Year Outlook Highlights Strong Production and Cost Profile
(All monetary figures are expressed in U.S. dollars unless otherwise stated) TORONTO, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (
About this update from Dpm Metals Inc.
[{"type":"text","content":" (All monetary figures are expressed in U.S. dollars unless otherwise stated) TORONTO, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or the “Company”) today announced its operating and financial results for the fourth quarter and twelve months ending December 31, 2021. All operational and financial information contained in this news release are related to continuing operations, unless otherwise stated. Highlights: Record gold production – Produced a record 309,965 ounces of gold, at the upper end of 2021 guidance. Copper production of 34.7 million pounds was in line with 2021 guidance; Strong cost performance at all operations – Reported cost of sales of $359.9 million, and an all-in sustaining cost per ounce of gold of $657 and a cash cost per tonne of complex concentrate smelted of $479, in line with 2021 guidance; Record free cash flow – Generated a record $253.1 million in cash provided from operating activities and a record $252.4 million of free cash flow; Record adjusted net earnings – Generated net earnings attributable to common shareholders from continuing operations of $190.7 million and record adjusted net earnings of $202.0 million or $1.09 per share; Growing financial strength – Ended the year with $334.4 million in cash, an investment portfolio of $48 million, an undrawn $150 million long-term revolving credit facility (“RCF”) and no debt; Returning capital to shareholders – Declared 2022 first quarter dividend of $0.04 per common share payable on April 18, 2022 to shareholders of record on March 31, 2022. For 2021, dividends distributed totalled $22.4 million ($0.12 per share) and common shares repurchased totalled $10.4 million for an aggregate of $32.8 million of capital returned to shareholders, representing 13% of free cash flow; Strong sustainability performance – Scored in the 91st percentile for ESG performance among companies in the metals and mining industry in the 2021 S&P Global Corporate Sustainability Assessment. Strong 2022 guidance and three-year outlook – Expected gold production of between 250,000 and 290,000 ounces in 2022 at an all-in sustaining cost of between $750 and $890 per ounce of gold, with continued solid production in 2023 and 2024 as outlined in the three-year outlook. Board refreshment process – As part of the Board of Director’s ongoing success...