Highlights

  • DPM Metals shares are up 53.91% over the past year.
  • DPM Metals extended Chelopech mine life to 2036 under an updated life-of-mine plan.
  • Proven and Probable Mineral Reserves increased 42% in tonnage year-on-year.
  • Updated estimates support sustained production of around 160,000 GEO annually.

DPM Metals Inc. (ASX:DPM) (TSX:DPM) released an updated Mineral Resource and Mineral Reserve estimate on 6 February 2026, alongside a revised life-of-mine (LOM) plan for its Chelopech mine in Bulgaria. The update outlines an extension of mine life to 2036 and reflects revisions to reserves, resources, and long-term production planning.

The company’s shares are trading lower at AUD 48.79 on the ASX, down 0.22% during the afternoon session on 6 February 2026. Despite the daily decline, the stock has risen 4.48% over the past month and is up 53.91% over the past year, placing the latest operational update in focus for investors tracking longer-term performance.

According to the updated Mineral Reserve estimate, the Chelopech mine now has an expected operating life of ten years, extending through to 2036. The revised LOM plan is based on sustained average production of approximately 160,000 gold equivalent ounces (GEO) per year.

The update incorporates revised model and design parameters, updated cut-off calculation assumptions, and the inclusion of the Sharlo Dere prospect within the Mineral Reserve framework.

Reserves and Resources Update Lifts Long-Term Production Visibility

Proven and Probable Mineral Reserves increased to 23.2 million tonnes (Mt). Compared with the previous estimate, this represents a net tonnage increase of 42%. Metal content also rose, with gold content increasing by 12% and copper content by 10%.

The revised reserve estimate reflects updates to geological modelling and mine design, alongside adjustments to economic and technical inputs used in the reserve calculation.

Measured and Indicated Mineral Resources, excluding Mineral Reserves, increased by 20% to 15.3 Mt. The updated resource carries average grades of 1.96 grams per tonne (g/t) gold and 0.57% copper, consistent with Mineral Reserve grades reported in the update.

Exploration Update Pending

The current MRMR estimate does not include the Wedge Zone Deep (WZD) discovery, located approximately 300 metres below existing Mineral Reserves and current mine infrastructure. The estimate also excludes potential mineralisation associated with the Chelopech North and Brevene exploration licences.

DPM Metals indicated that drilling results from the Wedge Zone Deep discovery are expected to be released in the second quarter of 2026. Any future updates may be subject to further technical evaluation and reporting.

Investor Takeaway

DPM Metals’ updated mine plan arrives at a time when the stock has already delivered a 53.91% return over the past year, placing the company firmly on investor watchlists. The extension of Chelopech’s mine life to 2036 and the increase in reported reserves and resources provide additional operating visibility that long-term investors tend to track closely.

With deeper discoveries and nearby exploration areas excluded from the current estimates, the next set of drilling results expected in the second quarter of 2026 is likely to remain a key focus point for investors assessing future updates.

FAQ

What did DPM Metals announce on 6 February 2026?

The company released an updated Mineral Resource and Mineral Reserve estimate and a revised life-of-mine plan for the Chelopech mine in Bulgaria.

How long is the Chelopech mine now expected to operate?

Based on the updated plan, the mine has an expected operating life of ten years, extending through to 2036.

What changes were made to Mineral Reserves and Resources?

Proven and Probable Mineral Reserves increased to 23.2 Mt, while Measured and Indicated Resources excluding reserves rose to 15.3 Mt.

Does the updated estimate include the Wedge Zone Deep discovery?

No. The current MRMR estimate excludes the Wedge Zone Deep discovery and nearby exploration licences.