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Dundee to sharpen pencil at Timok

Dundee Precious Metals (TSX: DPM) has released a preliminary economic assessment for its Timok gold project in Serbia but is planning further optimisation work before committing to a prefeasibility study.

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Drilling at Dundee’s Timok project in Serbia

President and CEO Rick Howes said the PEA had provided "a solid foundation".

It outlined an initial capex of US$136 million, an after-tax NPV (5% discount) of $105 million and IRR of 18.