Dundee ups 2018 revenue, net earnings

According to Mining News Pro - For the full year, metal production totaled 201,095 oz. of gold and 36.7 million lb. of copper. The smelter at the Chelopech project in Bulgaria achieved a record throughput of 232,043 tonnes, in line with guidance, and it generated a positive cash flow.

Dundee expects to continue its profitable operating trend into 2019. The Krumovgrad gold mine (also in Bulgaria) is targeted for production in the first quarter.

The company gave the following guidance for 2019:

-Ore mined: 2.54 million to 2.79 million tonnes;
-Payable metals in concentrates sold: 191,000 to 237,000 oz. of gold and 32 million to 37 million lb. of copper;
-AISC per ounce of gold $675 to $820;
-Exploration expenses: $12 million to $14

-Sustaining capital expenditures: $38 million to $46 million; and
-Growth capex: $29 million to $34 million