Dundee Precious Metals Inc. (DPM) is an international gold mining company. DPM is engaged in the acquisition, exploration, development, mining and processing of precious metals. The Company operates in three operating segments: Chelopech Mining EAD (Chelopech), which owns and operates gold, copper and silver mine located east of Sofia, Bulgaria; Deno Gold Mining Company CJSC (Deno Gold), which owns and operates a gold, copper, zinc and silver mine located south east of the capital city of Yerevan in southern Armenia, and Namibia Custom Smelters (Pty) Limited (NCS), which owns and operates a concentrate processing facility located in Tsumeb, Namibia. During the fiscal year ended December 31, 2011 (fiscal 2011), a total of 21,774 meters of underground exploration diamond drilling was completed in Chelopech. The Company in Deno Gold, during fiscal 2011, a total of 55,362 meters of surface and 2,397 meters of underground exploration diamond drilling was completed.