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Dundee reports lower gold and copper production in Q2, posts net earnings of $33.5 million

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Dundee reports lower gold and copper production in Q2, posts net earnings of $33.5 million kitconews gold silver investing finance metals economics mining

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The company said that decline in gold production was due primarily to lower expected gold grades at Ada Tepe as a result of mining in lower gold grade zones, partially offset by improved gold recoveries at Chelopech. Revenue in the second quarter of 2022 of $134.5 million was $40.2 million lower than the corresponding period in 2021 due primarily to the planned Ausmelt furnace maintenance shutdown at Tsumeb and lower volumes of metals sold.

Net earnings attributable to common shareholders from continuing operations in the second quarter and first six months of 2022 were $33.5 million and $60.3 million , respectively, compared to $67.5 million and $88.2 million in the corresponding periods in 2021.

 

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