Adriatic Metals silver and gold output surges ahead of takeover

(Alliance News) - Adriatic Metals PLC on Monday said it is maintaining operational momentum ahead of its agreed takeover, reporting growth in the production of silver and gold.

The mining company operating in Bosnia & Herzegovina said silver equivalent production jumped 23% to 1.7 million ounces in the second quarter of 2025, from 1.4 million in the first quarter. This consisted of 720,449 ounces of silver, up from 595,993, and 4,840 ounces of gold, up from 3,998.

Production of zinc and lead also increased.

Looking ahead to all of 2025, Adriatic lowered its guidance for silver equivalent production to 9.5 million to 10.5 million ounces from 12 million to 13 million, though is still well up on a year before. Adriatic said it reached commercial production levels last month.

Cash balance as at June 30 was USD59 million, down 22% from USD76 million at March 31.

Last month, Adriatic Metals accepted a USD1.25 billion takeover offer from Dundee Precious Metals Inc, a Toronto-listed gold mining company operating in Bulgaria, Serbia and Ecuador.

Adriatic Metals Chief Executive Officer Laura Tyler said Monday: "Following the board's recommendation to accept the proposed acquisition of Adriatic by Dundee Precious Metals, we remain committed to maintaining positive operational momentum throughout this transactional period."

Adriatic Metals shares were up 0.2% at 286.50 pence each on Monday morning in London.

By Tom Budszus, Alliance News slot editor

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