Business
Lundin Gold Meets 2023 Guidance with Gold Production of 481,274 Ounces
VANCOUVER, BC, Jan. 11, 2024 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to report
About this update from Lundin Gold Inc.
[{"type":"text","content":" VANCOUVER, BC, Jan. 11, 2024 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (\"Lundin Gold\" or the \"Company\") is pleased to report fourth quarter 2023 gold production of 99,310 ounces (\"oz\") from its Fruta del Norte gold mine (\"Fruta del Norte\") in southeast Ecuador, resulting in total gold production of 481,274 oz for the year, in line with the high end of the Company's upwardly revised 2023 guidance range of 450,000 to 485,000 oz. Of the total quarterly gold production, 65,298 oz were produced as a concentrate and 34,012 oz as doré. During the same quarter in 2022, the Company produced 121,139 oz of gold. In the fourth quarter of 2023, the mill processed approximately 427,743 tonnes at an average throughput rate of 4,649 tonnes per day (\"tpd\"), the average grade of ore milled was 8.2 grams per tonne, and average recovery was 88.1%. Ron Hochstein, President and CEO commented, \"I am happy to announce that Lundin Gold is in line with the high end of its revised 2023 production guidance. 2024 will be an exciting year at FDN, with the expansion of plant throughput to 5,000 tpd and the installation of new flotation technology to improve recoveries. In addition, we will be undertaking the largest ever exploration program on our extensive land package. I'm excited to continue building on our successes over the next year.\" Production Results Q4 2023 FY 2023 Q4 2022 FY 2022 Ore processed (tonnes) 427,743 1,654,520 420,838 1,559,178 Average throughput (tonnes per day) 4,649 4,533 4,574 4,272 Average head grade (grams per tonne) 8.2 10.2 10.0 10.6 Recovery (%) 88.1 % 88.4 % 89.6 % 89.5 % Gold ounces produced 99,310 481,274 121,139 476,329 Concentrate 65,298 310,831 78,756 314,694 Doré 34,012 170,443 42,383 161,635 Gold ounces sold 98,005 474,365 119,890 470,103 Average realized gold price ($/oz sold)1 2,021 1,958 1,814 1,789 Lundin Gold's operations in Ecuador have not been impacted by the recent security situation in the country. The Company continues to closely monitor the situation. Year End 2023 Results Conference Call and Webcast Lundin Gold will publish its year end 2023 results on Thursday, February 22, 2024, after market close in North America. The Company will host a conference call and webcast to discuss its results on Friday, February 23 at 7:00 a.m. PT, 10:00 a...