Gold

Lundin Gold Reports Strong Third Quarter 2024 Gold Production

Strategic Insights

Oct 9, 2024 — 1 min read

Lundin Gold Inc., a Canadian mining company, has announced impressive third-quarter 2024 gold production figures from its Fruta del Norte mine in southeast Ecuador. The company produced 122,154 ounces of gold, significantly higher than the 112,212 ounces produced in the same quarter last year. This milestone marks a major achievement for Lundin Gold, with the mine reaching 2.0 million ounces of production in just under five years of operation.

Key Takeaways:

Lundin Gold produced 122,154 ounces of gold in the third quarter of 2024, a 9% increase from the same quarter in 2023.
The company achieved an average throughput rate of 4,623 tonnes per day, exceeding planned levels, and an average grade of 10.3 grams per tonne with recoveries of 86.8%.
Lundin Gold has announced the appointment of Brendan Creaney as Vice President, Corporate Development and Investor Relations, bringing over 15 years of experience in the mining industry.
The company has made the final payment of $150 million to Newmont Corporation in relation to the stream credit facility and offtake agreement for its Fruta del Norte mine.
Lundin Gold will publish its third-quarter 2024 results on November 7, 2024, and host a conference call and webcast to discuss its results on November 8, 2024.

Statistics:

Ore processed in the third quarter of 2024: 425,340 tonnes
Average throughput per day in the third quarter of 2024: 4,623 tonnes
Average head grade in the third quarter of 2024: 10.3 grams per tonne
Gold ounces produced in the third quarter of 2024: 122,154
Gold ounces sold in the third quarter of 2024: 125,887
Average realized gold price in the third quarter of 2024: $2,615 per ounce sold
Total consideration for the stream credit facility and offtake agreement: $330 million
Amount of the second and final payment made to Newmont Corporation: $150 million

Sources:

Lundin Gold Inc. news release, dated October 31, 2024
Financial statements and related data, as provided in the Lundin Gold Inc. news release
Newmont Corporation news release, dated April 25, 2024
Company reports and filings, as referenced in the Lundin Gold Inc. news release.

The End of American Hypergrowth

For two centuries, the US economy grew by adding workers. That's over.

Healthcare's $5.3 Trillion Drag

How Medical Spending Became America's Biggest Productivity Tax

Breakthrough in Nanotechnology: Electromagnetic Shock Treatment Shows Promise

Researchers at the Wuhan University of Technology in China have made significant progress in the field of nanotechnology, specifically in the area of nanoindentation. A novel electromagnetic shock treatment (EST) method has been developed to enhance the microscale mechanical properties of a titanium alloy, with promising results obtained through array-based

Gut Microbiota Plays Crucial Role in Immunotherapy Success for Colon Cancer Patients

Research investigators at the Zhengzhou Central Hospital Affiliated to Zhengzhou University have made groundbreaking discoveries on the role of gut microbiota in determining the efficacy of immunotherapy for colon cancer patients. The study, which was recently published in Biochimica et Biophysica Acta, reveals that specific bacterial species and microbial metabolites

Read more

The End of American Hypergrowth

Healthcare's $5.3 Trillion Drag

Breakthrough in Nanotechnology: Electromagnetic Shock Treatment Shows Promise

Gut Microbiota Plays Crucial Role in Immunotherapy Success for Colon Cancer Patients