02:28 PM EDT, 05/20/2025 (MT Newswires) -- Dundee Precious Metals Inc. ( DPMLF ) was at last look Tuesday up 2.3% after confirming it is in discussions regarding a possible offer for the entire issued, and to be issued, share capital of U.K. metals and mining company, Adriatic Metals plc.

But in a statement the company did also say there can be no certainty that any offer will be made, nor as to the terms on which any offer might be made.

Adriatic's stock closed 23% higher at 2 pounds and 18 pence after rising as much as 28% during Tuesday's UK trading session. Adriatic Metals is valued at more than $820.3 million.

Meanwhile, National Bank of Canada on Tuesday reiterated its outperform rating on the shares of Dundee Precious Metals ( DPMLF ) and its $25.00 price target following reports the company is advancing an Ecuador gold project.

National Bank said various news agencies reported over the weekend that the free prior consultation at the Loma Larga project was completed and the community of San Pedro de Escaleras voted in favour.

The company has not issued a press release.

Price: 19.29, Change: +0.43, Percent Change: +2.25