"Our updated mineral reserve estimate is an indication of Chelopech's consistent track record of replacing mineral reserves, and we believe there is strong potential to continue this trend," president and CEO of Dundee David Rae said.
The new life-of-mine plan predicts gold production in 2022 of 171,000oz, which is up from the previous plan's 158,000oz. There has been little change to 2023 and 2024, while 2025 has jumped from 156,000oz of gold to 173,000oz.
Previously, the gold production was set to fall from 135,000oz in 2027 to 42,000oz in 2029, but was reset at 155,000oz and 145,000oz, respectively, while 2030 has been set at 88,000oz.
Dundee's share price on the Toronto Stock Exchange was quoted as C$7.69 (US$6.15) on April 4, having risen 3% day-on-day. The company had a market capitalisation of C$1.47 billion.