Business
Lundin Gold Reports Production of 129,731 Ounces of Gold in Second Quarter of 2023
VANCOUVER, BC, July 6, 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, July 6, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (\"Lundin Gold\" or the \"Company\") is pleased to report second quarter 2023 gold production of 129,731 ounces (\"oz\") from its Fruta del Norte gold mine (\"Fruta del Norte\") in southeast Ecuador. Of the total quarterly gold production, 85,395 oz were produced as concentrate and 44,336 oz as doré. During the same quarter in 2022, the Company produced 111,890 oz of gold. Gold sales in the second quarter 2023 totalled 128,958 oz versus 96,291 oz sold in the same period last year. In the second quarter of 2023, the mill processed 418,373 tonnes resulting in an average throughput rate of 4,598 tonnes per day at an average grade of 11.0 grams per tonne with recoveries of 88.0%. Grade and recoveries are expected to vary over the coming quarters. Ron Hochstein, President and CEO commented, \"Higher than expected grade and mill throughput in the second quarter have offset lower recoveries, which were caused by changes in ore type and oxidation impacts on the coarse ore stockpile. In the first half of 2023, mill performance has been excellent resulting in the achievement of an average throughput rate of 4,479 tonnes per day. Although we expect recoveries to be impacted in the third quarter, we continue to optimize operations and believe we can build on the successes achieved in the first half of the year. As a result, we will be reviewing our 2023 guidance and will provide an update as part of our second quarter financial results in a few weeks' time.\" Production Results Q2 2023 Q2 2022 Ore processed (tonnes) 418,373 385,675 Average throughput (tonnes per day) 4,598 4,238 Average head grade (grams per tonne) 11.0 10.3 Recovery (%) 88.0 % 87.6 % Gold ounces produced 129,731 111,890 Concentrate 85,395 75,730 Doré 44,336 36,160 Gold ounces sold 128,958 96,291 Second Quarter of 2023 Results Conference Call and Webcast Lundin Gold will publish its second quarter of 2023 results on Wednesday, August 9, 2023, after market close in North America. The Company will host a conference call and webcast to discuss its results on Thursday, August 10 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 second quarter of 2023 results. Qualified...