Lundin Gold Surpassed 2024 Output Guidance

SEATTLE (Scrap Monster): Lundin Gold Inc., a miner located in Vancouver, British Columbia, said that its Fruta del Norte gold mine in Ecuador produced a record 502,029 ounces of gold year in 2024. The production surpassed the 450,000 to 500,000 ounces that were the previously stated projection range.

In Q4 of last year, 135,241 ounces of gold were produced, comprising 46,407 ounces of dore and 88,834 ounces of concentrate, according to a press release from the firm. 131,175 ounces of gold were sold during the period. According to the report, this is in contrast to the 99,310 ounces of gold produced and sold, respectively, in the same quarter last year.

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During Q4 2024, the mill processed 427,030 tonnes of ore. The average throughput rate stood at 4,642 tonnes per day.

The business is happy to have surpassed the upper end of our 2024 production projection, said Ron Hochstein, President and CEO of Lundin Gold, in response to the results. By 2025, the business hopes to increase gold production from about 475,000 to 525,000 ounces and reach a mill throughput of 5,000 tpd.

Following market closure on Thursday, February 20, 2025, the company will release its 2024 annual results. Additionally, the results will be discussed via a webcast and conference call the next day at 8:00 a.m. PT, 11:00 a.m. ET, and 5:00 p.m. CET.