The Globe and Mail reports in its Thursday, Sept. 11, edition that RBC Capital analyst Michael Siperco resumed coverage of Dundee Precious Metals with an "outperform" rating and $32 share target, rising from $24. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $31.57. Mr. Siperco hiked his share target following Dundee's acquisition of Adriatic Metals and the Vares mine in Bosnia. Mr. Siperco says in a note: "Adding Vares boosts near-term production (and leverage to silver prices, now 20 per cent of revenue through 2028), especially during the gap between the forecast closure of Ada Tepe in 2026 and the start-up of Coka Rakita in 2028. The addition of Vares provides an immediate production/FCF boost, as well as addressing investor concerns about the prior decline in production between the expected closure of Ada Tepe in 2026 and before the start up of Coka Rakita in 2H28. The $1.25-billion transaction has already paid dividends, with Vares accounting for $2-billion in our model at spot prices (approximately 35 per cent of total NAV), and Dundee shares outperforming the GDX index by 10 per cent since takeover talks were confirmed May 19."