DPM Metals is moving its Čoka Rakita gold project in eastern Serbia toward construction in early 2027, supported by cash flow from existing operations in the Balkans. The company said the development plan relies on equipment sourced from its closed Ada Tepe mine and internal funding. The company confirmed that equipment from Ada Tepe in Bulgaria is being dismantled and refurbished for transfer to Čoka Rakita.
Equipment reuse and project execution milestones
DPM said reusing existing equipment could reduce procurement requirements, shorten delivery schedules, and lower part of capital expenditure compared with buying a new processing and infrastructure package. Construction is still targeted to begin in early 2027. The company also linked the approach to reduced commissioning uncertainty versus introducing an entirely new equipment configuration.
The Serbian project is also described as benefiting from DPM’s operating platform in Southeast Europe, including technical teams, procurement experience, and mining infrastructure developed through its Bulgarian and Bosnian operations. DPM said the immediate milestones include completion of detailed development work, preparation of transferred equipment, and maintaining the timetable for early-2027 construction. The company characterized the investment case as shifting from discovery toward execution.
Third-quarter output and regional cash generation
DPM produced approximately 97,000 gold-equivalent ounces across its operations in the third quarter, placing it toward the upper end of its 2026 production guidance. DPM said this operating performance supports its ability to finance project development internally. For context on regional output, the company reported that Vareš in Bosnia and Herzegovina contributed around 45,000 gold-equivalent ounces during the quarter.
DPM also reported that Chelopech in Bulgaria produced approximately 50,000 ounces. It said Vareš is ramping toward annual processing capacity of around 850,000 tonnes by the end of 2026. For Čoka Rakita, DPM indicated the key factor for 2027 is how quickly the Serbian discovery can be converted into a construction-ready mine while maintaining capital discipline.
