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Highlights
Dundee Precious Metals announces acquisition of Adriatic Metals in a cash-and-stock deal
The transaction boosts Dundee’s production and resource base
Adriatic’s Vareš silver project aligns with Dundee’s growth strategy
Canada-based Dundee Precious Metals Inc (TSX:DPM), operating within the gold mining sector, has announced a definitive agreement to acquire Adriatic Metals PLC (LON:ADT1), listed on the FTSE AIM UK 50 INDEX. This acquisition is positioned as a strategic move that enhances Dundee’s overall mineral asset base while diversifying its geographic operations.
Adriatic Metals is currently focused on the development of the Vareš silver project in Bosnia and Herzegovina. The project is seen as a significant contributor to future production growth for the merged entity. Dundee, with active mining operations in Bulgaria and Namibia, sees the addition of Adriatic’s assets as an opportunity to broaden its exposure across multiple jurisdictions and metal classes.
Under the agreement terms, Adriatic shareholders will receive a combination of cash and new shares in Dundee Precious Metals. The valuation reflects a premium over Adriatic’s share price as recorded before the deal was publicly disclosed. The structure of the offer has been positioned to deliver a balance between immediate liquidity and future participation in the combined group’s performance.
Dundee emphasized that the integration of the Vareš project aligns with its vision for sustainable development and expanded mine life. The company also pointed out the exploration upside in the surrounding areas of the Vareš project, which it views as a complementary fit within its existing portfolio. According to Dundee’s leadership, this move is consistent with their commitment to increasing operational scale and shareholder value through disciplined expansion.
The proposed transaction is the latest in a series of foreign acquisitions involving UK-listed firms. There has been a noticeable rise in similar deals across the FTSE markets, with several UK-based companies becoming acquisition targets in recent months. This trend underscores continued global interest in UK-listed mining and resource companies.
Adriatic Metals, which trades on the FTSE AIM UK 50 INDEX, has drawn attention due to its high-grade silver-zinc-lead project and projected near-term production capabilities. Dundee noted that the Adriatic acquisition not only adds a new jurisdiction to its portfolio but also enhances its metal mix with increased exposure to silver and base metals.
With regulatory and shareholder approvals pending, both companies expressed confidence in the transaction timeline. If completed, the merger would create a more diversified precious and base metal producer with a strengthened footprint across Europe and Africa.
