Dundee Precious Metals falls on C$287 mln deal to buy Osino Resources

DPM Metals

18/12/2023 14:55

** Shares of Canadian gold miner Dundee Precious Metals
 DPM.TO  fall ~8.5% to C$8.93 in early trading
    ** Co says it will acquire gold exploration firm Osino
Resources Corp  OSI.V  for C$287 million  ($214.58 million) in a
cash-and-stock deal
    ** Upon completion, OSI shareholders will own ~7% of
combined company
    ** Co will own OSI's Twin Hills open pit gold project as
well as an extensive exploration portfolio in Namibia
    ** "The project (Twin Hills) provides a foundation for our
future production profile with production targeted for 2026, as
well as significant exploration upside," - DPM CEO David Rae
    ** Shares of Osino Resources Corp gain as much as 25.7% to
C$1.42
    ** DPM stock is up ~37% YTD
    
($1 = 1.3375 Canadian dollars)

 (Reporting by Vallari Srivastava)
 ((Srivastava.Vallari@thomsonreuters.com;))