Dundee Precious Metals to acquire Adriatic Metals for $1.3bn.

Dundee Precious Metals, a gold mining company, agreed to acquire Adriatic Metals, a precious and base metals mining company, for $1.3bn. “Adding Adriatic’s Vareš operation to our strong asset portfolio creates a premier mining business with a peer-leading growth profile, high-quality development and exploration pipeline and a robust platform to deliver above-average returns. Vareš is a logical fit with our portfolio, as it significantly increases DPM’s mine life while adding near-term production growth, a highly prospective land package, and cash flow diversification. We are well-positioned to leverage our expertise in underground mining, our regional presence, successful track record of building and ramping up new mines, as well as our strong financial position to further optimize the operation and realize Vareš’ full value potential, based on our analysis," David Rae, Dundee Precious Metals President and CEO.