Lundin Gold Announced Record Gold Output at Fruta del Norte

SEATTLE (Scrap Monster): Lundin Gold Inc. reported results for the second quarter and first half of 2023. The company announced record gold production from its Fruta del Norte mine.

Lundin Gold reported Q2 2023 gold production of 129,731 ounces, as compared with 111,890 ounces in the year-ago quarter. The gold sales surged higher significantly from 96,291 ounces in Q2 2022 to 128,958 ounces in Q2 this year. The cash operating cost stood at $644 per oz sold, while the all-in sustaining cost (AISC) was $802 per oz sold, the company press release noted.

During the initial six-month period of the current year, Lundin Gold produced 269,752 oz and sold 263,649 oz of gold at an AISC of $765 per oz. The production and sales had totalled 233,555 ounces and 215,573 ounces respectively.

Based on the strong performance during H1 2023, the company raised its 2023 production guidance to 450,000-485,000 oz. This is when matched with the earlier production guidance of 425,000 to 475,000 ounces. Also, the company has reduced its cash operating cost guidance and AISC for the full year 2023 to $650 to $700 per oz sold and $820 to $870 per oz sold respectively.