07:34 AM EST, 12/18/2024 (MT Newswires) -- Dundee Precious Metals ( DPMLF ) reported Wednesday the results of a pre-feasibility study for the Coka Rakita project in Serbia.

The study outlined a posttax net present value US$735 million and a 41% internal rate of return based on a 5% discount rate and gold price of US$1,900 per ounce.

Gold production was estimated at 1.2 million ounces over the 10-year operating life. Initial capital was pegged at US$379 million.

"Given the project's excellent economics ... we are immediately proceeding to a feasibility study while advancing permitting activities in parallel, with the goal of commencing construction in mid-2026 to support first production of concentrate in 2028," said David Rae, the company's president and CEO.