FINWIRES · TerminalLIVE
FINWIRES

DPM Metals Reports Higher Preliminary Q2 Gold Equivalent Production

By

DPM Metals (DPM.TO) after trade Wednesday said its gold-equivalent production increased in the second quarter, supported by strong performance at Chelopech and the continued ramp-up of Vares.

The company produced 62,000 ounces of gold and 102,000 gold-equivalent ounces (GEOs) in the three months ended June 30. Gold sales totaled 55,000 ounces, while gold equivalent sales reached 87,000 ounces.

Vares produced about 35,000 gold GEOs in the second quarter, the company said, adding that it "has continued to make strong progress at Vares, achieving targeted development rates averaging over 400 meters per month and processed 117,000 tonnes in the second quarter, a 48% quarter-on-quarter increase." The company also said Chelopech produced about 56,000 GEOs and Ada Tepe produced roughly 11,000 GEOs in the quarter.

These are preliminary production results, DPM said, adding that it plans to release its second quarter operating and financial results after market close on July 30.

"Our continued return of capital program, which totaled over $49 million of share repurchases during the second quarter, reflect our confidence and excitement for DPM's continued exploration success, including the significant new discovery of the high-grade Brevene South Porphyry we announced in June," Chief Executive David Rae said.

Related Articles

Mining & Metals

First Majestic Silver Agrees to Sell San Martin Silver Mine for $90 Million

First Majestic Silver (AG.TO, AG) after trade Tuesday said it entered into a definitive agreement to sell its San Martin Silver Mine in Jalisco State, Mexico, to Flextronics Supply and Service for $90 million in cash.The purchase price includes an upfront payment of $2.5 million upon closing, of which $500,000 has already been placed in escrow as a deposit. The remaining $87.5 million will be paid through future payments, the company said.Under the agreement, Flextronics will acquire all of the shares of Minera El Pilon, First Majestic's wholly owned Mexican subsidiary that owns a 100% interest in the San Martin Silver Mine, the company said, adding that the transaction also includes the Jalisco Group of Properties.The mine is a past producing silver and gold operation that came under care and maintenance by First Majestic in July 2019, according to the statement.The deal is set to close in the fourth quarter, subject to certain closing conditions, including Mexican Antitrust approval, the company said.

$AG.TO
Mining & Metals

National Bank of Canada's Natcan Trust Agrees to Acquire Truvera Trust

National Bank of Canada (NA.TO), through its subsidiary Natcan Trust Company (NBT), after trade Tuesday said it has agreed to acquire Truvera Trust for an undisclosed price.Truvera is headquartered in Vancouver and specializes in estate and trust planning, as well as executor and trustee services, according to the statement.The acquisition is part of the bank's strategy to expand its wealth management capabilities and strengthen its presence in Western Canada, it said, adding that "the integration will be carried out progressively, ensuring continuity for clients and employees while leveraging NBT's broader infrastructure and expertise."By establishing a local presence in the region, NBT aims to build on collaboration across its Wealth Management services in Western Canada, including National Bank Financial Wealth Management and Private Banking 1859, it said.The bank also said that the deal will not have a material impact on its financial position. The transaction is subject to certain closing conditions, including regulatory approvals, and is set to close in the coming months.

$NA.TO
Mining & Metals

TSX Closer: The Index Rises as Energy Shares Jump, Strong Trade Data Signals Q2 Growth Tailwind

The Toronto Stock Exchange rose on Tuesday as a jump in energy issues and gains across most sectors outweighed weakness in mining stocks, while stronger-than-expected Canadian trade data offered a positive signal for second-quarter economic growth.The S&P/TSX Composite Index closed up 60.27 points, or 0.17%, to 35,272.59, with a majority of sectors closing higher.Energy led gainers, up 3.03%, with Health Care, Industrials, Information and Technology, Financial, Utilities, and Telecom, up 0.17%, 0.59%, 0.88%, 0.35%, 0.68%, and 1.45%, respectively. Battery Metals Index closed down 1.73%, while Base Metals ended the day down 4.38%.In commodities, gold traded lower on Tuesday as the dollar and bond yields rose, with the metal remaining rangebound even as inflation worries eased with lower energy prices. The precious metal for August delivery was last seen down $9.70, or 0.2%, to $4,157.80 per ounce.Meanwhile, West Texas Intermediate (WTI) crude oil jumped on Tuesday following fresh Iranian attacks on ships moving through the Strait of Hormuz. WTI crude oil for August delivery closed up 2.8% to settle at $70.44 per barrel, while September Brent oil was last seen up 3.1% to $74.25.The rise follows reports that Iran fired on ships in Omani waters near the Strait of Hormuz. The attacks threaten to keep ships that have been trapped in the Persian Gulf since the Feb. 28 start of the war on Iran from leaving the region.On the domestic economic front, stronger-than-expected trade data offered a positive signal for second-quarter growth, with Canada's merchandise trade surplus widening in May and economists pointing to a growing contribution from net exports.With merchandise data covering the first two months of the quarter, Canada's trade activity suggests net exports are shifting from a drag in the first quarter to a modest tailwind for real GDP growth in Q2, said TD Economics on Tuesday.May's trade surplus widened to C$4.2 billion, up from an upwardly revised C$3.4 billion in April, said Statistics Canada on Tuesday. May's surplus was significantly above the C$2.9 billion consensus figure provided by Bank of Montreal Capital Markets (BMO) before the StatsCan release.Exports increased 0.9% monthly, led by stronger shipments of metal ores and non-metallic minerals, including diamonds, while energy exports eased slightly after recent gains."Net exports look to add firmly to growth in Q2, another data point that suggests the Canadian economy has snapped out of its two-quarter funk," wrote BMO Senior Economist Robert Kavcic in a note.Canada's merchandise trade surplus with the U.S. widened to C$11.6 billion in May from C$10.3 billion in April, posting the largest surplus since January 2025, according to StatsCan.Notably, the July 1 U.S.-Mexico-Canada Agreement (USMCA) deadline passed without renewal, moving the agreement into rolling annual reviews and extending uncertainty around unresolved issues involving steel, aluminum, autos, lumber, and procurement, added TD."This leaves risks modestly tilted to the downside even as solid U.S. demand offers a partial offset," wrote TD Economist Marc Ercolao.In currency markets, the Canadian dollar remained under scrutiny as investors weighed improving domestic economic data against weaker commodity prices and ongoing trade uncertainty.The Canadian dollar is caught between improving domestic data and limited external support, but conditions might be in place late this year to provide support to the loonie in 2027, National Bank of Canada said in a note.Recent gross domestic product gains and stronger full-time employment have eased recession concerns, with Q2 growth tracking around 2.3% annualized, the bank said. However, weaker medium-term growth prospects, softer commodity prices, and the uncertainty on the ongoing USMCA trade discussions continue to limit the Canadian dollar's upside, Stefane Marion and Kyle Dahms said in the bank's note.The Canadian dollar's stretched levels after climbing above C$1.42 against its US counterpart don't seem to be enticing investors to a near-term rebound with labor-market data on Friday offering economic clues, according to Societe Generale.Since the pair last traded at these levels following the April 2025 tariff shock from President Donald Trump, expectations for higher U.S. interest rates have widened the gap between Canadian and U.S. short-term yields, continuing to support the US dollar, the bank said in a note Tuesday.

S&P/TSX CompositeS&P/TSX Composite$CAD$CXY$TD.TO