Business
Lundin Gold Reports First Quarter 2025 Results
Strong production and high gold prices result in increased shareholder dividends VANCOUVER, BC, May 8, 2025 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq
About this update from Lundin Gold Inc.
[{"type":"text","content":" Strong production and high gold prices result in increased shareholder dividends VANCOUVER, BC, May 8, 2025 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (\"Lundin Gold\" or the \"Company\") today announced its financial results for the first quarter of 2025, featuring record revenues of $356 million and net income of $154 million ($0.64 per share). Free cash flow1 of $171 million ($0.71 per share) was driven by strong gold production of 117,313 ounces (\"oz\"), with 117,641 oz sold at an average realized gold price1 of $3,081 per oz, at low cash operating costs1 of $792 and all-in sustaining costs1 (\"AISC\") of $909 per oz sold. The Company also reported increased shareholder returns through an amendment to its dividend policy as well as the declaration of a special dividend. All dollar amounts are stated in US dollars unless otherwise indicated. Ron Hochstein, President and CEO commented, \"The first quarter of 2025 is yet another quarter marked by record financial results for Lundin Gold. As a result of our exploration program results in the first quarter, we have expanded our program to continue to evaluate numerous targets. In addition, given the Company's future outlook, which includes the benefits of the recently completed process plant expansion project, we are on track to meet our full-year guidance and have increased shareholder returns through the special dividend and introduction of a variable dividend to complement our fixed sustainable dividend.\" OPERATING AND FINANCIAL RESULTS SUMMARY The following two tables provide an overview of key operating and financial results. Three months ended March 31, 2025 2024 Tonnes ore mined 403,221 419,758 Tonnes ore milled 398,159 413,596 Average mill throughput (tpd) 4,424 4,545 Average head grade (g/t) 10.4 9.5 Average recovery 88.5 % 88.3 % Gold ounces produced 117,313 111,572 Gold ounces sold 117,641 108,916 __________________ 1 Refer to \"Non-IFRS Measures\" section. Three months ended March 31, 2025 2024 Revenues ($'000) 356,345 226,741 Income from mining operations ($'000) 233,546 113,237 Earnings before interest, taxes, depreciation, and amortization ($'000)1 241,502 111,612 Adjusted earnings before interest, taxes, depreciation, and amo...