Lundin Gold's Record Production Highlights Strong Performance

Lundin Gold Achieves Record Production Milestone

Lundin Gold Inc. (NASDAQ: LUGDF) recently reported a remarkable annual gold production of 502,029 ounces in 2024 from its renowned Fruta del Norte gold mine. This achievement surpasses the company's production guidance of 450,000 to 500,000 ounces, which reflects the strong operational capabilities and commitment of Lundin Gold to maximizing output.

Impressive Fourth Quarter Results

In the fourth quarter of 2024, Lundin Gold produced a total of 135,241 ounces of gold. This consisted of 88,834 ounces from concentrate and 46,407 ounces from doré, effectively showcasing the efficiency of its mining operations. Comparatively, the same quarter the previous year saw a production of 99,310 ounces, highlighting significant growth in their operational capacity.

A Closer Look at Operational Performance

The mill's operations were notable, processing 427,030 tonnes of ore during the fourth quarter, achieving an average throughput of 4,642 tonnes per day. Lundin Gold maintained an impressive average gold grade of 11.3 grams per tonne, with optimal recovery rates reaching 87.1%. This demonstrates the mine's efficiency and the company's engineering prowess in managing its resources.

CEO's Insights on Future Growth

Ron Hochstein, President and CEO of Lundin Gold, expressed his enthusiasm about exceeding the production expectations. He stated, "It is gratifying to achieve such a significant milestone, especially with our plant expansion project nearing completion. We anticipate an average throughput of 5,000 tonnes per day in 2025, with improved recoveries expected to enable further gold production between 475,000 and 525,000 ounces." This outlook reflects Lundin Gold's dedication to evolving and enhancing its operational strategies.

Overview of Production Metrics

The production metrics for 2024 were not only impressive in terms of overall numbers but also in their consistency. The following summarization of production results within the fourth quarter and the full fiscal year illustrates Lundin Gold's operational success:

Key Production Data:

• Q4 2024: 135,241 ounces produced
• FY 2024: 502,029 ounces produced
• Q4 2023: 99,310 ounces produced
• FY 2023: 481,274 ounces produced

Upcoming Conference Call for Year-End Results

Lundin Gold is set to release its year-end 2024 results on February 20, 2025. Following the announcement, the company will conduct a conference call on February 21 to discuss these results and outline future strategies. This step demonstrates Lundin Gold's commitment to transparency and stakeholder engagement.

About Lundin Gold Inc.

Headquartered in Vancouver, Canada, Lundin Gold is dedicated to creating a positive impact on host communities while driving substantial value for its stakeholders through operational excellence. The company’s Fruta del Norte mine is recognized as one of the highest-grade gold mines currently operating worldwide. Furthermore, Lundin Gold possesses an attractive portfolio of exploration properties near the Fruta del Norte site, indicating potential for future endeavors.

Frequently Asked Questions

What was Lundin Gold's total production in 2024?

Lundin Gold achieved a total production of 502,029 ounces in 2024.

How did Lundin Gold's Q4 2024 production compare to Q4 2023?

In Q4 2024, Lundin Gold produced 135,241 ounces, a significant increase from 99,310 ounces produced in Q4 2023.

What is the expected throughput for Lundin Gold in 2025?

In 2025, Lundin Gold anticipates achieving an average throughput of 5,000 tonnes per day.

What is the significance of the Fruta del Norte mine?

The Fruta del Norte mine is regarded as one of the highest-grade gold mines in production today, showcasing Lundin Gold's operational strength and the quality of its resources.

When will Lundin Gold announce its year-end results?

Lundin Gold is expected to announce its year-end 2024 results on February 20, 2025.

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