Business
Lion One Records 4741 oz in Quarterly Gold Sales, C$18.0M of Revenue
North Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - Lion One Metals Limited...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Records 4741 oz in Quarterly Gold Sales, C$18.0M of RevenueNorth Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (\"Lion One\" or the \"Company\") is pleased to report record quarterly gold sales and gold production from the Tuvatu Gold Mine in Fiji for Q4 CY2024.Summary of Quarterly Results:4,741 oz of gold sold 4,300 oz of gold recovered29,525 tonnes milledTotal revenue of C$17,993,02072% increase in revenue compared to previous quarterQuarterly Production ResultsLion One Metals sold approximately 4,741 oz of gold and 841 oz of silver during the three-month period ending December 31st, 2024. The average sale price for the quarter was C$3,787 per ounce of gold sold. Total revenue for the quarter was C$17,993,020, which represents a 72% increase in revenue compared to the previous quarter's revenue of C$10,470,518. Gold revenue for the quarter was enhanced by higher gold prices, improved gold grades and recoveries, and the addition of unsold gold from the previous quarter. Approximately 4,300 oz of gold was recovered during the quarter, compared to 3,638 oz from the previous quarter. This represents an 18% increase in quarter-over-quarter gold production and is a new record for the company.Table 1. Quarterly Production and Operations SummaryQ4 CY2024Q3 CY2024Gold soldoz 4,741 3,129 Silver soldoz 841 1,093 Total RevenueC$ 17,993,020 10,470,518 Plant throughputtpd 321 341 Gold gradeg/t 5.49 4.59 Gold recovery% 82.50 78.20 Gold producedoz 4,300 3,638  2024 was the first calendar year of production at Tuvatu. The company has achieved consistent quarter-over-quarter increases in gold production, gold recoveries, and gold grades since plant commissioning was complete in Q1 CY2024 (Figure 1). The company is currently in the 300 tpd pilot plant phase of operations, with expansion to the 600 tpd phase of operations anticipated in 2026.Lion One Chairman and CEO Walter Berukoff stated: \"2024 was a pivotal year for Lion One Metals as we brought the Tuvatu mine in Fiji into production at the pilot plant level. We are delighted to have achieved consecutive increases in production every quarter throughout 2024, culminating in a record C$18.0M of quarterly revenue at the end of the year. As we continue to develop the mine and unlock the higher-grade portions of...