SEATTLE (Scrap Monster): Lundin Gold announced production results for the second quarter of the current year. The company reported robust production from its Fruta del Norte gold mine in Ecuador.
According to company press release, the company announced gold production of 111,890 ounces from the Fruta del Norte gold mine in Q2 2022. Out of the total gold production, 75,730 ounces were produced as concentrate and the remaining 36,160 ounces as dore. The quarterly production witnessed marginal rise from the same quarter a year before. The company had produced 108,799 ounces of gold in Q2 last year.
During the quarter, the mill processed nearly 385,675 tonnes at an average throughput rate of 4,238 tonnes per day. The average grade of ore milled was 10.3 grams per tonne, at an average recovery rate of 87.6%. The recoveries during the quarter were impacted by the milling of some oxidized ore.
The gold sales totalled 96,291 ounces during the quarter, compared with 125,412 ounces during the same quarter a year before. The sales were impacted by blockades on some of Ecuador's major highways.
Lundin Gold remains firmly on track to meet or exceed its 2022 production guidance and meet its 2022 cost guidance, said Ron Hochstein, President and CEO.