Lundin Gold Announced Solid Q1 2024 Production Results

SEATTLE (Scrap Monster): Vancouver-based Lundin Gold Inc. reported gold production of 111,572 ounces in Q1 2024 from its Fruta del Norte gold mine in Ecuador. This compares with the quarterly gold production of 140,021 oz of gold during the corresponding quarter in 2023. Out of the total Q1 2024 production, 73,964 oz were produced as concentrate and 37,608 oz as dore.

In Q1 2024, the mill processed 4 13,596 tonnes ore at an average throughput rate of 4,545 tonnes per day. The mills had processed 392,332 tonnes of ore at an average throughput rate of 4,359 tonnes per day in Q1 2023.

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The company’s gold sales totalled 108,916 ounces during the initial quarter of the year, compared with 134,691 ounces of gold sold during the same quarter a year before. The average realized prices of gold sold were up significantly from 1,952/oz to 2,141/oz, said the company press release.

Ron Hochstein, President and CEO, Lundin Gold stated that it has made a solid start to 2024, with strong production which is in line with the company’s expectations. The first quarter performance by the company puts it in a great position to meet the 2024 production guidance, he added.

The company will publish its Q1 2024 results on 8^th May, 2024 after market close.