DPM Metals Announces Robust Feasibility Study Results for the Čoka Rakita Project with $782M of NPV5% and 36% IRR

Core Insights - DPM Metals Inc. announced the results of a feasibility study for the Čoka Rakita project in Serbia, confirming robust economics for a high-margin underground mining operation with first quartile costs and a high rate of return based on a $1,900 per ounce gold price assumption [1][2][3] Feasibility Study Highlights - The feasibility study (FS) indicates an additional year of mine life and increased ounces in the initial years compared to the pre-feasibility study (PFS), resulting in improved net present value (NPV) [2][7] - The project is expected to have a 36% internal rate of return (IRR) at a gold price of $1,900 per ounce, with plans to advance permitting for mine construction start-up in early 2027 and first concentrate production anticipated in the first half of 2029 [3][30] - The FS is based on a mineral reserve estimate of 7.34 million tonnes at a grade of 6.44 grams per tonne, containing approximately 1.52 million ounces of gold [6][37] Economic Metrics - The project has a robust after-tax NPV of $782 million at a 5% discount rate and a payback period of 1.8 years [7][10] - Initial capital costs are estimated at $448 million, with an all-in sustaining cost of $644 per ounce of gold [7][22] - The project is expected to produce an average of 148,000 ounces of gold per year over its life, with higher production in the first five years averaging 189,000 ounces per year [17][7] Project Development and Infrastructure - The Čoka Rakita project benefits from established infrastructure, including nearby roads and power lines, and is strategically located near DPM's Chelopech mine [5][22] - The FS includes optimizations in the development layout and design, ground support, ventilation, and dewatering infrastructure to enhance operational efficiency [11][9] Permitting and Community Engagement - DPM has received approval to initiate the Special Purpose Spatial Plan for Čoka Rakita, marking a key permitting milestone [30][29] - The company aims to build strong partnerships with local communities and governments, planning to create over 500 jobs and develop training programs for local personnel [33][32] Mineral Resource and Reserve Estimates - The updated mineral resource estimate indicates a total of 7.34 million tonnes at 6.44 g/t gold, representing a 10% increase in tonnage and an 11% increase in contained ounces compared to the PFS [37][34] - The mineral reserves are classified as probable and are based on a cut-off grade of 2.5 g/t gold, reflecting the project's economic viability [36][41]