Lundin Gold (TSX: LUG) reported their third quarter production results on Wednesday evening, headlined by quarterly production of 122,086 ounces of gold. The figure represents a decline of 12.4% from the second quarter.
Production during the quarter came from the company’s Fruta del Norte mine in southeastern Ecuador. In terms of production mix, 78,172 ounces were produced in the form of concentrate, while 43,914 ounces of gold were in the form of dore.
Throughput rates during the quarter averaged 5,264 tonnes per day, with average grades of 8.9 g/t gold and recoveries of 88.2%. Throughput improved from 5,064 tonnes per day in the second quarter, however grade was down from 10.4 g/t gold, and recoveries declined from 90.9%.
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“Our strong performance this quarter propels our year-to-date gold production to 378,832 ounces, which has us well on track to meet our 2025 production guidance of 490,000 to 525,000 ounces. Our debottlenecking efforts around the processing plant continue to be successful, having achieved a record quarterly average production rate of 5,264 tonnes per day,” commented Lundin CEO Ron Hochstein on the results.
Gold sales during the quarter totaled out at 124,911 ounces, versus 136,737 ounces in Q2, while the average realized gold price jumped from $3,361 to $3,634 an ounce, an improvement of 8.1%.
Full financial results are slated to be released on November 6 after the close of markets.
Lundin Gold last traded at $97.17 on the TSX.
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