Canada’s Dundee Precious Metals has unveiled its acquisition of all of the issued and outstanding shares in INV Met-als, the owner of the Loma Larga gold, copper and silver project in Ecuador.
Dundee Precious Metals said in a statement that the Ecuadorian pro-ject “is well-aligned with DPM’s core strengths and unique capabilities to unlock value”.
The South American investment adds “high-quality growth asset to DPM’s portfolio: Loma Larga has the potential to produce an annual average of approximately 200,000 gold ounces … in its first five years,” the statement said.
“Life of mine production is estimated to be approximately 170,000 Au oz. per year at an attractive all-in sustaining cost, net of by-products … of approximately US$630/oz.1, which continues to support DPM’s peer-leading cost profile,” according to Dundee Precious Metals.