Business
Lundin Gold Reports Q1 2024 Production of 111,572 Ounces of Gold
VANCOUVER, BC, April 10, 2024 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) ("Lundin Gold" or the "Company") is pleased to report first quarter
About this update from Lundin Gold Inc.
[{"type":"text","content":" VANCOUVER, BC, April 10, 2024 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (\"Lundin Gold\" or the \"Company\") is pleased to report first quarter 2024 gold production of 111,572 ounces (\"oz\") from its Fruta del Norte gold mine (\"Fruta del Norte\") in southeast Ecuador. Of the total quarterly gold production, 73,964 oz were produced as concentrate and 37,608 oz as doré. During the same quarter in 2023, the Company produced 140,021 oz of gold. In the first quarter of 2024, the mill processed 413,596 tonnes at an average throughput rate of 4,545 tonnes per day, the average grade of ore milled was 9.5 grams per tonne, and average recovery was 88.3%. These results provide a strong foundation for meeting our production guidance of 450,000 to 500,000 oz for 2024. Ron Hochstein, President and CEO commented, \"2024 is off to a solid start, with strong production in line with our expectations. The Phase 2 Plant Expansion Project is firmly underway, and on track for year-end completion. Importantly, we do expect 2024 production to be weighted to the second half from increasing grades and recoveries in the coming quarters. With this first quarter performance, we have put ourselves in a great position to meet production guidance for 2024.\" Production Results Q1 2024 Q1 2023 Ore processed (tonnes) 413,596 392,332 Average throughput (tonnes per day) 4,545 4,359 Average mill feed grade (grams per tonne) 9.5 12.3 Recovery (%) 88.3 % 90.6 % Gold ounces produced 111,572 140,021 Concentrate 73,964 88,236 Doré 37,608 51,785 Gold ounces sold 108,916 134,691 Average realized gold price ($/oz sold)1 2,141 1,952 First Quarter of 2024 Results Conference Call and Webcast Lundin Gold will publish its first quarter of 2024 results on Wednesday, May 8, 2024, after market close in North America. The Company will host a conference call and webcast to discuss its results on Thursday, May 9 at 9:00 a.m. PT, 12:00 p.m. ET, 6:00 p.m. CET. Conference call details and a link to the webcast will be published with the first quarter of 2024 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 standardized meaning prescribed by IFRS. These measures may differ from those made by other companies a...