Lundin Gold Inc. (LUG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to London Guild's second quarter 2025 financial results conference call. At this time, all lines are in a lesson-only mode. Following the presentation, we will conduct a question-and-answer session. If anyone has any difficulties hearing the conference, please press star zero for operator assistance at any time. I would now like to turn the conference call over to Ron Hochstein, President and CEO of Please go ahead. Thank you, operator, and good morning, everyone. Thank you all for joining us today. I'm joined by Terry Smith, Chief Operating Officer, and Chester See, our Chief Financial Officer. We're going to take you through our results for the second quarter of 2025. Please note, lending goals disclaimer is on this slide. This discussion includes forward-looking information. Actual future results may differ from expected results for a variety of reasons described in the Caution Regarding Forward-Looking Information and Statements section of our press release. Lending Gold is a U.S. dollar reporting entity, and all amounts in this presentation refer to U.S. dollars unless otherwise indicated. This was another excellent quarter for Lending Gold. We produced over 139,000 ounces of gold. and sold more than 136,000 ounces. Our cost performance remained strong, with cash operating costs per ounce of $756 and all-in sustaining costs of $927 per ounce sold. This, combined with an average realized gold price of $3,361, resulted in an impressive all-in sustaining cost margin of 72%. With this strong operating performance in the first half of the year, we are updating our 2025 production guidance by raising the lower end of our range from 475,000 to 490,000 ounces, while maintaining our upper end at 525,000 ounces. Record gold ...