DPM Metals (DPM) Investor Day 2025 summary

Strategic outlook and growth plans

• Targeting production of 425,000 gold equivalent ounces per year by 2027, increasing to 600,000–800,000 ounces with Čoka Rakita and Dumitru Potok by 2032–2033.

• Significant new high-grade mineralization discovered at Chelopech's Wedge Zone Deep, supporting a 10+ year mine life target.

• Čoka Rakita expected to begin production in 2029, delivering over 200,000 ounces per year in early years, with feasibility confirming low-cost, high-margin operation and 7.3Mt reserves at 6.44 g/t.

• Vareš operation ramping up to 850,000 tons per annum, with a 15-year life, 1.8Moz AuEq total payable production, and potential for further expansion.

• Portfolio underpinned by a strong balance sheet, $414M cash, no debt, and a 10-year track record of delivery.

Operational improvements and project execution

• Vareš mine restructured for bottom-up mining, with accelerated decline development, local workforce training, and a new paste backfill plant operational by Q2 2026.

• Chelopech exploration success extends mine life, with new deep discoveries and 10,000m drilling planned.

• Čoka Rakita mine plan optimized for early access to high grades, improved ventilation, and ~88% gold recovery using a conventional flowsheet.

• Infill drilling at Vareš aims to upgrade resource confidence, with completion targeted by mid-2029.

• Optimization of mine design, infrastructure, and metallurgical processes across all projects to maximize recoveries and efficiency.

Exploration and resource expansion

• Aggressive exploration at Čoka Rakita, Dumitru Potok, and across the Rakita camp, with 40,000m drilling planned in 2024 and 20,000m at Vareš.

• Rakita camp's district-scale potential highlighted by an initial inferred resource of 2.6Moz Au and 1.9Blbs Cu, with ongoing drilling to expand resources at Dumitru Potok, Rakita North, and Frasen.

• Camp-scale strategy aims to identify additional high-grade ore bodies and leverage synergies in infrastructure.

• Focus on building geological models to guide targeted drilling and resource expansion.

• Community engagement and permitting processes streamlined to support rapid exploration and development.