Slide 1: Metal Riches of the Western Tethyan Belt – Bulgaria
Metal Riches of the Western Tethyan Belt Bulgaria Richard Gosse, SVP Exploration PDAC - March 5, 2015 GROWTH OPTIMIZATION INNOVATION PEOPLE
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward looking information” or "forward looking statements" that involve a number of risks and uncertainties. Forward looking information and forward looking statements include, but are not limited to, statements with respect to the future pric
Slide 3: Geographic and Commodity Diversification
Geographic and Commodity Diversification Sabina Chelopech Mine Canada Bulgaria 11% Timok Gold Project Serbia Krumovgrad Gold Project Bulgaria Operating assets Development asset Exploration assets Tsumeb Smelter Namibia 2016 Asset Diversification 2016 Revenue Diversification Bulgaria Smelter 56% Nami
Slide 4: Bulgaria at a glance
Bulgaria at a glance Stable business environment • Area – 110,994 square kilometres • Population – 7.5 million • Approximately 80% of the working-age population have secondary or higher education • GDP – 44.16 billion Euro (2015). GDP forecast +2.8% in 2017 (IMF). • GDP per capita – 5,700 Euro • Off
Slide 5: Mining Friendly Country
Mining Friendly Country A long mining history • 112 million tonnes (worth of 2,6 billion • Gold mining at Krumograd started 3500 years ago. Leva) were mined during 2015, a 12% increase over 2014. • Today the 4th largest gold producer in Europe. • Increased production is recorded in all Production (i
Slide 6: Mining Friendly Country
Mining Friendly Country • Permitting – as a member of EU, Bulgaria is highly regulated. • Exploration, mining and primary processing of underground resources are carried out on the basis of life of mine and annual work plans. They are approved by the Minister of Energy, subject to the preliminary op
Slide 7: Mining Friendly Country
Mining Friendly Country • Mining Concessions • Regulated by the Concession Act (CA) and the Underground Resources Act (URA). The CA lays down the general legal order for granting a concession (i.e. the right for operating a site of public interest), whereas the URA sets out the specific requirements
Slide 8: Metal Endowment of Bulgaria
Metal Endowment of Bulgaria • Main Au-Cu deposits are associated with the Late Cretaceous and the Paleogene magmatic belts. • DPM’s Chelopech Au-Cu and Krumovgrad Au projects located in Panagyurishte and Eastern Rhodopes districts, respectively. Panagyurishte district Chelopech Sofia Eastern Rhodope
Slide 9: Chelopech
Chelopech = EN ( a) st ANOVA A. SW jdt abi TSX:DPM
Slide 10: Chelopech – Solid Performer Focused on Optimization
Chelopech – Solid Performer Focused on Optimization Highlights: Chelopech results were in upper end of 2016 original guidance • Copper production – 38.5 million pounds • Gold production (incl. gold in pyrite produced) – 165,665 ounces • Cash cost/ounce gold sold, net of by-product credits, including
Slide 11: Chelopech – Optimization Through Innovation
Chelopech – Optimization Through Innovation Ore Mined (Mt) 2.21 Continue to optimize by 1.81 2.03 2.05 2.04 • Increasing production 1.31 − Ramped up production to 2.2 Mtpy – 1.09 underground wireless technology to optimize operating performance − Successful reserves replacement since 2006 2010 2011
Slide 12: Chelopech Au-Cu Mine
Chelopech Au-Cu Mine • The ore bodies vary from 150-300 meters in length, are 30-120 meters thick and can extend at least 350 meters down plunge. • The main ore bodies are spatially grouped into two mining areas, with semi-circular distribution and controlled by favorable breccia and host rock conta
Slide 13: Chelopech Au-Cu Mineralization
Chelopech Au-Cu Mineralization Ore Mineralization Stockwork, vein and disseminated type of ore are most common among the different types breccia and among intrusive bodies. Ore Minerals Py, Tn, En-Luz, Au, Cpy & Bn with late stage Sp/Ga Orebodies Morphology Columnar pipe like bodies that typically p
Slide 14: Chelopech Au-Cu Mineralization: New Geology Model
Chelopech Au-Cu Mineralization: New Geology Model • It is interpreted that Chelopech deposit was formed in shallow intrusive setting, related to phreato- magmatic breccias which formed a maar-diatreme and numerous blind breccia-pipe structures. Coherent diorite country rock Marginal fluidization str
Slide 15: Chelopech – Brownfields Exploration
Chelopech – Brownfields Exploration Drilling commenced at SE Breccia Pipe Zone New High Grade Zone 153 Hole 555-01 Southeast Breccia Pipe • First of 7 UG holes commenced in September 2016 • Confirms HSE system is open to southeast beneath the Chelopech Thrust Fault Brevene Exploration License • Gran
Slide 16: Chelopech: Diatreme & Mineralization Types
Chelopech: Diatreme & Mineralization Types Petrovden porphyry min. Vozdol & wedge areas Chelopech HS ore bodies (potassic, phyllic alt.) Pb-Zn-Ag-Au veins N Cu-As>Au-Sb-Ag S Coherent diorite country rock Mo-Cu-Bi-Te±Au Mn-Pb-Zn-Ag±Au Mn-Zn-Pb-Bi-Te SFL Au-Sb-Ag>Cu-As Tur. sandstone RAB LIM Post-mine
Slide 17: Krumovgrad
Krumovgrad TSX:DPM 17
Slide 18: Krumovgrad 2016-2018 Project Milestones
Krumovgrad 2016-2018 Project Milestones Milestone Actual / Expected Completion (2) Completion of the Detailed Project Execution Plan Q1 2016 (complete) Complete Detailed Engineering Q1 2016 (complete) Updated Capital Cost Estimate and Baseline Project Schedule Q1 2016 (complete) Land Re-designation
Slide 19: Krumovgrad Business Outlook
Krumovgrad Business Outlook Production and Operating Costs Capital Costs Annual gold production 85,700 oz Construction capital to complete $178.2 million Direct Costs $117.1 million Annual silver production 38,700 oz Indirect Costs $48.7 million First concentrate production Q4 2018 Contingency P50 (
Slide 20: Krumovgrad Site Photos
Krumovgrad Site Photos Top of the hill Top of the hill Temporary access road Temporary access road Equipment arriving at site Temporary access road TSX:DPM 20
Slide 21: Krumovgrad Process Plant
Krumovgrad Process Plant Crushing (0100) Grinding (0200) Coarse ore Storage (0100) Flotation (0300) and Pebble Crushing (0200) Conc Thickening and Filtration Tailings Thickening (0400) Plant (1400) and HV Area (0900/1050) Temporary access road TSX:DPM 21
Slide 22: Ada Tepe Epithermal Au-Ag Ore Deposit
Ada Tepe Epithermal Au-Ag Ore Deposit The dominant structure at the Ada Tepe deposit is the detachment structure that separates the metamorphic basement rocks from the overlying sedimentary rocks, and forms a 10° to 15° north dipping lower structural bounding surface to the deposit. • “Wall Zone” mi
Slide 23: Ada Tepe Epithermal Au-Ag Ore Deposit
Ada Tepe Epithermal Au-Ag Ore Deposit Ore mineralogy reflects boiling of mineralized fluids; gold was transported and deposited with other elements like As, Ag, Sb, Te, and Se. 0 0.5 1 cm Typical ore textures: • Banded and crustifrom opaline and chalcedonic silica ̶ adularia (Al/Si disordered) ̶ cal
Slide 24: Krumovgrad – Kupel North
Krumovgrad – Kupel North Gold and silver mineralization in the Krumovgrad area is predominantly hosted within the Paleogene Shavar Formation proximal to the unconformable underlying basement rocks of the Kessebir-Kardamos core complex. • The host Shavar Formation typically forms laterally discontinu
Slide 25: An Attractive Investment Opportunity Through Operational Excellence & Disciplined Growth
An Attractive Investment Opportunity Through Operational Excellence & Disciplined Growth Rick Howes, CEO, Room 801A, MTCC: Level 800; 2pm Monday, March 6 Company Highlights 1 •• Geographic & commodity diversification Long established relationships & successful track record in low cost, mining friend
Slide 26: THANK YOU
THANK YOU Corporate Head Office: One Adelaide Street East, Suite 500 Toronto, Ontario, M5C 2V9 T: 416 365-5191 Investor Relations T: 416 365-2549 jreid@dundeeprecious.com TSX:DPM www.dundeeprecious.com Chelopech Mine, Bulgaria TSX:DPM
Slide 27: Footnotes and Disclaimers
Footnotes and Disclaimers 1. Includes payable gold in pyrite concentrate sold and related costs, when applicable 2. Forecast/guidance information is subject to a number of risks. 2017F is based on guidance issued February 15, 2017 and 2018 to 2020 forecast data is based on the completion of several