Lundin Gold Shines in Q4

Lundin Gold (OTCMKTS:LUGDF) has announced an impressive fourth quarter gold production of 99,310 ounces from its Fruta del Norte gold mine in southeast Ecuador. The company’s total gold production for the year stands at 481,274 ounces, consistent with the higher end of the company’s upwardly revised 2023 guidance range of 450,000 to 485,000 ounces.

Key Operational Highlights

• In the fourth quarter, 65,298 ounces were produced as a concentrate and 34,012 ounces as doré. Notably, this production surpasses the same quarter in 2022 when the company produced 121,139 ounces of gold.
• The mill processed approximately 427,743 tonnes at an average throughput rate of 4,649 tonnes per day. Additionally, the average grade of ore milled was 8.2 grams per tonne, and the average recovery rate reached 88.1%, affirming the operational efficiency of Lundin Gold.

Resilience Amidst Challenges

Lundin Gold’s exceptional performance in Q4 signifies its resilience and adaptability in the face of a challenging mining landscape. The company has showcased its ability to navigate operational hurdles and maintain a steady production trajectory, reinforcing its position as a stalwart player in the gold mining sector.