Kitco MINING
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Kitco MINING
CEO says DPM is “Heading Towards 600,000 Gold Ounces Equivalent”
DPM Metals (TSX: DPM) President and CEO David Rae says investor appetite drove the company’s new Australian listing. Speaking to Kitco Mining at Mining Forum Americas 2025, he said there was “a niche or an opportunity where investors would be interested in a high margin producer with a growth portfolio heading towards 600,000 gold ounces equivalent.” DPM joined the ASX on September 18, 2025, under the ticker ASX: DPM.
The year has been transformative, with the company delivering 70,000 gold equivalent ounces in Q2 at just over US$1,000 per ounce, all-in sustaining costs. This generated margins of US$2,200 per ounce. The Adriatic Metals acquisition fills the production gap as Chelopech winds down, and Rae noted, “We move straight away in 2027 to 425,000 ounces from somewhere in the 300,000 ounce gold equivalent range now.” The company is also debt-free, holding US$800 million in cash at Q2, with “about 75 to 80% of our free cash flow generated in H1 this year going in terms of buybacks and dividends.”
Upcoming catalysts include a Q4 feasibility study at Čoka Rakita (170,000 ounces per year at US$644 per ounce AISC), further drilling at Dimitri Potok, where results hit “131 meters at 4% copper equivalent,” and updated costs at Loma Larga in Ecuador.
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