OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
2026-11-06
◂ Monitor DPM ASX / TSX

DPM Metals Inc.

Producer · Gold · Silver · Copper · Zinc · Lead · Bulgaria · Bosnia and Herzegovina · Serbia · Ecuador Rating locked: sign in to view v8 · dpm-20261024t170830-full
Last 2026-11-06
A$54.07
1D
—
1M
—
YTD
—
1Y
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Upside
Locked: sign in to view
Mkt cap
A$11.9B
EV
A$10.7B
Cash
US$761.2M
Debt
US$0

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash US$761.2M Self Funding
Debt US$0 Net cash US$761.2M
Basic shares 219.4M 2026-07-30
Runway Self Funding Positive continuing operating cash flow USD425.552m in H1; cash USD761.209m and undrawn USD400m versus Coka initial capex USD448m. Liquidity does not equal project approval.

Liquidity

Financial position

Construction funding capacity appears adequate before further acquisitions or legal disruption; cash date predates Q3 buybacks and unknown Q3 cash generation.

Capital structure

Ownership and dilution

Ordinary shares
219.4M
Fully diluted
220.2M

Global common-share denominator, including ASX1:1 CDIs, is exact July30 total219368650 plus877611 options, without proceeds. July779000 purchases overlap Q3 total1860000; they must not be added. September presentation rounds219m. Exact post-July option exercises/cancellation dates unavailable; retaining latest exact total overstates shares by at most roughly1.1m known additional buybacks before new exercises, less than0.5%.

Security classes2
ClassTypeQuantityStrikeExpiry
Common shares, including shares underlying ASX CDIsOrdinary Share219.4M——
877611 options; CAD6.17-48.98, weighted CAD14.76; no option proceeds creditedOption877.6K——

KPI history

Operating metrics

Source values by period
Operating metric source table4
MetricProjectPeriodPeriod typeValueStatus
Contained gold productionChelopechQ2 2026Quarter42,667 oz goldReported
Preliminary contained gold productionChelopechQ3 2026Quarter41,000 oz goldReported
Contained silver productionVaresQ2 2026Quarter1,043,455 oz silverReported
Preliminary contained silver productionVaresQ3 2026Quarter887,000 oz silverReported
Company guidance2
MetricProjectPeriodLowHighStatus
Gold Equivalent ProductionCompany2026305,000365,000 GEOCurrent
AISC Per Geo SoldCompany20261,3001,450 USD/GEOCurrent

Capital history

Capital events

2 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-09-30Ann. 2026-10-08BuybackUS$74.8M——Completed—
2026-10-15Ann. 2026-07-31Dividend———Announced—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Partial · as of 2026-10-13

Material royalties, copper stream, Vares offtake and June provisional receivable hedges reviewed; complete concentrate penalties and exact hedge settlement dates unavailable.

Gross metal royalty 1.5% until concession expiry in 2029; national variable rates then depend on metals and renewal.

Royalty · Active
Counterparties
Bulgaria
Applies to
Chelopech · Gold · Silver · Copper
Economic direction
Burden
Period
Dates not stated
Key terms
Current rate: 1.5 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Serbian 5% NSR royalty is embedded in published feasibility NAV, including high-gold-price case.

Royalty · Active
Counterparties
Serbia
Applies to
Čoka Rakita · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
NSR rate: 5 %
How it affects our valuation

No valuation treatment is available for this arrangement.

BAM3.9/ROM tonne, approximately US$2.18/t; incorporated in Vares study opex and not added again.

Royalty · Active
Counterparties
Zenica-Doboj Canton
Applies to
Vareš · Gold · Silver · Copper · Zinc · Lead
Economic direction
Burden
Period
Dates not stated
Key terms
Royalty per ROM tonne: 2.18 USD/t
How it affects our valuation

No valuation treatment is available for this arrangement.

Monthly LME copper warrants equal24.5% of contained copper, with30% payment from Gold Royalty, life of mine. Model deducts70% net warrant burden in Vares operating cash costs; liability is not separately deducted.

Stream · Active
Counterparties
Gold Royalty Corp.
Applies to
Vareš · Copper
Economic direction
Burden
Period
Dates not stated
Key terms
Copper warrant share: 24.5 %
Payment fraction: 30 %
How it affects our valuation

No valuation treatment is available for this arrangement.

100% silver-lead and over 90% zinc concentrate contracted for first 2-3 years; counterparty names and complete payability/penalty terms not disclosed in reviewed sources.

Offtake · Active
Applies to
Vareš · Silver · Gold · Copper · Zinc · Lead
Economic direction
Mixed
Period
Dates not stated
Key terms
Silver-lead contracted: 100 %
How it affects our valuation

No valuation treatment is available for this arrangement.

June 30 gold provisional-receivable swaps; 22905oz fixed USD4093. Within-four-month maturities, not a perpetual mine production hedge.

Commodity Hedge · Unknown
Applies to
Chelopech · Gold
Economic direction
Mixed
Period
Through 2026-10-30; start date not stated
Key terms
Fixed volume: 22,905 oz
Fixed price: 4,093 USD/oz
How it affects our valuation

No valuation treatment is available for this arrangement.

June 30 copper provisional-receivable swaps; 2903485lb fixed USD6.07. Maturity/completion by cutoff unconfirmed; no beyond-2026 operating hedge extrapolated.

Commodity Hedge · Unknown
Applies to
Chelopech · Copper
Economic direction
Mixed
Period
Through 2026-10-30; start date not stated
Key terms
Fixed volume: 2,903,485 lb
Fixed price: 6.07 USD/lb
How it affects our valuation

No valuation treatment is available for this arrangement.