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DPM Metals Inc.

DPM.TO Bulgaria, Bosnia & Herzegovina, Serbia, Ecuador Producer/Royalty Streaming

Outstanding management

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Bagger potential

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Share price · USD

$41.859

59.050 CAD at 0.7089

FD shares
219.37M
FD market cap
$8.53B
Metals
GoldCopperSilverLeadZinc
Country tier
Tier 2
Insider aligned
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Project grade
🔒
Resource size
🔒
Optionality
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Resource

Gold (oz)
10,788,000
Silver (oz)
127,136,000
Copper (lb)
2,810,000,000

Resource equivalent

Gold (oz)
16,308,067
Silver (oz)
652,322,667
Copper (lb)
19,569,680,000

Scoring inputs

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Description

DPM Metals Inc. (formerly Dundee Precious Metals, renamed September 2025) is a Canadian-based, multi-mine gold, copper and silver producer operating Chelopech and Ada Tepe in Bulgaria and, following its 2025 Adriatic Metals acquisition, the Vareš silver-lead-zinc-gold mine in Bosnia. The company produced 244,979 oz gold and 30.0 million lb copper in 2025 at an AISC of US$1,121/oz, generating record free cash flow of US$504.9 million; 2026 guidance calls for 305,000-365,000 gold-equivalent ounces at AISC of US$1,300-1,450/oz, with Vareš ramping to full run-rate by year-end 2026.

Growth is anchored by the Čoka Rakita discovery in Serbia, where a December 2025 inferred resource of 2.6 million oz gold and 1.9 billion lb copper targets first concentrate in H1 2029. The company also holds the Loma Larga gold-copper project in Ecuador, though authorities revoked its environmental license in October 2025 amid local protests, and the project remains halted.

 

Weakness

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List of projects

1. Chelopech Mine (Flagship) — 100% interest, Bulgaria; metals: Copper, Gold.
2. Ada Tepe Mine — 100% interest, Bulgaria; metals: Gold.
3. Vareš Mine — 100% interest (2025 Adriatic Metals acquisition), Bosnia and Herzegovina; metals: Silver, Lead, Zinc, Gold.
4. Čoka Rakita / Rakita Camp — 100% interest, Serbia; metals: Gold, Copper (development stage, targeting first concentrate H1 2029).
5. Loma Larga Project — 100% interest, Ecuador; metals: Gold, Copper (halted — environmental license revoked October 2025).

Deep dive series

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Forecast share price

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Expected timeline to full production

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Company data last reviewed 22 Sep 2026. Price updated 19 Oct 2026 15:00.