Business
Lundin Gold Reports Production of 112,212 Ounces of Gold in Third Quarter of 2023
VANCOUVER, BC, Oct. 12, 2023 /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, Oct. 12, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (\"Lundin Gold\" or the \"Company\") is pleased to report third quarter 2023 gold production of 112,212 ounces (\"oz\") from its Fruta del Norte gold mine (\"Fruta del Norte\") in southeast Ecuador. Of the total quarterly gold production, 71,902 oz were produced as concentrate and 40,310 oz as doré. During the same quarter in 2022, the Company produced 121,635 oz of gold. Gold sales in the third quarter of 2023 totalled 112,711 oz and were sold at an average realized gold price1 of $1,931 per oz. All dollar amounts are stated in U.S. dollars unless otherwise stated. In the third quarter of 2023, the mill processed 416,072 tonnes resulting in an average throughput rate of 4,523 tonnes per day at an average grade of 9.7 grams per tonne with recoveries of 86.5%. Ron Hochstein, President and CEO commented, \"Our third quarter results put Lundin Gold firmly on track to meet its 2023 production guidance. The increase in mill throughput partially offsets lower recoveries in the third quarter resulting in a decrease in production compared to that achieved during the same quarter last year. We continue to focus on improving recoveries through numerous initiatives and expect improvement in the coming quarters.\" Production Results Q3 2023 Q3 2022 Ore processed (tonnes) 416,072 379,258 Average throughput (tonnes per day) 4,523 4,122 Average mill head grade (grams per tonne) 9.7 11.0 Average recovery (%) 86.5 % 90.3 % Gold ounces produced 112,212 121,635 Concentrate 71,902 81,607 Doré 40,310 40,028 Gold ounces sold 112,711 134,640 Average realized gold price ($/oz sold)1 1,931 1,618 Third Quarter of 2023 Results Conference Call and Webcast Lundin Gold will publish its third quarter of 2023 results on Wednesday, November 8, 2023, after market close in North America. The Company will host a conference call and webcast to discuss its results on Thursday, November 9 at 7:00 a.m. PT, 10:00 a.m. ET, 4:00 p.m. CET. Conference call details and a link to the webcast will be published with the third quarter of 2023 results. Non-IFRS Financial Measures This news release refers to certain financial measures, such as average realized gold price, which are not measures recognized under IFRS and do not have a standardiz...