Dundee Precious to Buy Adriatic Metals for $1.25 Billion (1)

Dundee Precious Metals Inc. agreed to buy Adriatic Metals Plc, which operates a silver project in Bosnia and Herzegovina, for about $1.25 billion, as miners respond to surging precious metal prices.

The deal comes during a sharp rally in the silver market, with prices hitting a 13-year high earlier this week as investors flocked to safe-haven assets in response to rising geopolitical risks. The precious metal has jumped 25% this year, compared with a 30% gain for gold.

The cash and share offer values Adriatic at 268 pence, which is a premium of about 51% to where the ...