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Lundin Gold Exceeds 2024 Production Guidance and Achieves Record Annual Production of 502,029 Ounces of Gold
VANCOUVER, BC, Jan. 8, 2025 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce
About this update from Lundin Gold Inc.
[{"type":"text","content":" VANCOUVER, BC, Jan. 8, 2025 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (\"Lundin Gold\" or the \"Company\") is pleased to announce record annual gold production of 502,029 ounces (\"oz\") in 2024 from its Fruta del Norte gold mine (\"Fruta del Norte\") in southeast Ecuador, exceeding the Company's 2024 guidance range of 450,000 to 500,000 oz. Gold production in the fourth quarter 2024 totalled 135,241 oz, consisting of 88,834 oz of concentrate and 46,407 oz of doré, and gold sales totalled 131,175 oz. During the same quarter in 2023, the Company produced 99,310 oz of gold, and gold sales were 98,005 oz. All amounts are in U.S. dollars unless otherwise indicated. In the fourth quarter of 2024, the mill processed 427,030 tonnes of ore resulting in an average throughput rate of 4,642 tonnes per day at an average grade of 11.3 grams per tonne with recoveries of 87.1%. Ron Hochstein, President and CEO commented, \"I'm pleased to announce that Lundin Gold has exceeded the high end of our 2024 production guidance of 450,000 to 500,000 oz with record annual production of 502,029 oz., including production in the fourth quarter of 135,241 oz. With the plant expansion project substantially complete, in 2025 we look forward to achieving average mill throughput of 5,000 tpd and improved gold recoveries to produce 475,000 – 525,000 oz.\" Production Results Q4 2024 FY 2024 Q4 2023 FY 2023 Ore processed (tonnes) 427,030 1,690,865 427,743 1,654,520 Average throughput (tonnes per day) 4,642 4,620 4,649 4,533 Average head grade (grams per tonne) 11.3 10.5 8.2 10.2 Recovery (%) 87.1 % 87.8 % 88.1 % 88.4 % Gold ounces produced 135,241 502,029 99,310 481,274 Concentrate 88,834 320,240 65,298 310,831 Doré 46,407 181,789 34,012 170,443 Gold ounces sold 131,175 495,374 98,005 474,365 Average realized gold price ($/oz sold) 2,664 2,462 2,021 1,958 Year End 2024 Results Conference Call and Webcast Lundin Gold will publish its year end 2024 results on Thursday, February 20, 2025, after market close in North America. The Company will host a conference call and webcast to discuss its results on Friday, February 21 at 8:00 a.m. PT, 11:00 a.m. ET, 5:00 p.m. CET. Conference call details and a link to the webcast will be published with the year end 2024 results. Qualified Persons The technical info...