Dundee Precious Metals Inc.-Announcement: Bulgarian Investment Agency Issues Class 1 Investment Certificates for Chelopech Mine Expansion and Ada Tepe Construction Projects.TORONTO -- Dundee Precious Metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DPM (Documents Per Minute) The number of paper documents that can be processed in one minute. ) ("Dundee" or the "Company"") has been awarded with Class 1 Investment Certificates for its Chelopech expansion and Ada Tepe construction projects by the InvestBulgaria Agency (BIA BIA abbr. Bureau of Indian Affairs ), pursuant to the Encouragement of Investments Act. The Act establishes the terms and procedures for encouraging investments in Bulgaria and provides for preferential treatment of investment projects which meet certain criteria, namely: a) the investment must comprise fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → with the purpose of creating new or expanding and/or modernizing existing production of goods and/or services; b) job creation and c) implementation within three years. "The news is very encouraging to our Bulgarian operations and shows the support of the Bulgarian Government to Dundee's mining projects", said Jonathan Goodman, President and Chief Executive Officer of DPM. The preferential treatment measures are differentiated according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the class of investments. The Company, with an estimated investment within the next three years of BGN BGN In currencies, this is the abbreviation for the Bulgarian Lev. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 124.4 million (US$80 million) in Chelopech and BGN 101.7 (US$68 million) in Ada Tepe, qualified for the most preferential status as Class 1 Investment. Dundee is not planning to apply for a government grant for infrastructure development; however, it will benefit from the opportunity to acquire the lands required for the implementation of the investment projects without tender or competition, will receive individual administrative service from BIA and will enjoy reduced administrative time frames. Dundee Precious is a Canadian operating mining company engaged in the acquisition, exploration, development and mining of precious metals. It currently owns the Chelopech Mine, a producing gold/copper mine and Ada Tepe, an advanced stage exploration property, both located in Bulgaria, and is engaged in mineral exploration activities in the region. In addition, Dundee Precious has the option to earn a 60% interest in the Back River gold project in Nunavut, Canada. The Company also holds a significant and strategic portfolio of investments in the precious metals and mineral related sector. Dundee Precious Metals Inc. (TSX:DPM) |
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