Lundin Gold Q2 Earnings Surge on Higher Gold Prices

Mining News | 2026-08-10 11:13:13 | By Paul Ploumis

Lundin Gold ended the quarter with $507 million in cash and cash equivalents. It generated $96 million in free cash flow and returned $293 million to shareholders through dividends during the quarter.

Summary

Strong Q2 performance: Lundin Gold generated about $478 million in revenue and $202 million in adjusted earnings, with gold production reaching 118,994 ounces.
Robust cash generation: The company generated $96 million in free cash flow, ended the quarter with $507 million in cash and returned $293 million to shareholders through dividends.
Production and exploration plans: Lundin Gold remains on track to produce 475,000–525,000 ounces in 2026 and plans a record 133,000-metre exploration program costing about $85 million.

SEATTLE (Scrap Monster): Lundin Gold delivered a strong second quarter in 2026, supported by solid operations and high gold prices at its Fruta del Norte (FDN) mine in Ecuador.

The company reported revenue of about $478 million and adjusted earnings of $202 million for the quarter ended June 30. Gold production reached 118,994 ounces, while sales totaled 110,385 ounces. The company achieved an average realized gold price of $4,359 per ounce. Cash operating costs stood at $1,016 per ounce sold, while all-in sustaining costs (AISC) were $1,176 per ounce.

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Lundin Gold Unveils 2026 Outlook with Higher Throughput and Record Exploration Plans

Lundin Gold: Fruta del Norte Gold Mine Q2 Output Surged

The FDN mine produced 485,296 tonnes of ore during the quarter. The mill processed 500,143 tonnes of ore at an average throughput rate of 5,496 tpd.

Lundin Gold ended the quarter with $507 million in cash and cash equivalents. It generated $96 million in free cash flow and returned $293 million to shareholders through dividends during the quarter.

For the first half of 2026, gold production totaled 238,736 ounces. The Company remains on track to meet its 2026 production guidance of 475,000 to 525,000 oz. Also, Lunding Gold announced an AISC guidance of $1,110–$1,170 per ounce.

Looking forward, the company targets to undertake the largest exploration program in its history, with 133,000 metres of drilling planned in 2026. The total investment for the 2026 exploration program is estimated at around $85 million, the company said.