Lundin Gold Met Full Year Gold Output Guidance in 2023

SEATTLE (Scrap Monster): Vancouver, B.C.-based Lundin Gold Inc. announced gold production for Q4 and full year 2023.

The company reported fourth quarter 2023 gold production of 99,310 ounces from its Fruta del Norte gold mine in Ecuador. Out of this quarterly production, the company produced 65,298 ounces as concentrate and 34,012 ounces as dore. Lundin Gold had produced 121,139 ounces of gold in the same quarter a year before.

The full year 2023 gold production totalled 481, 274 ounces. This is in line with the high end of the previously announced revised 2023 gold output guidance of 450,000 to 485,000 ounces.

The ore processed in tonnes during Q4 last year totalled around 473,743 at an average throughput rate of 4,649 tonnes per day (tpd). During the whole of the previous year, the mills processed approximately 1.655 million tonnes, at an average throughput rate of 4,533 tpd. The average recovery rate for Q4 and full year 2023 stood at 88.1% and 88.4% respectively.

Ron Hochstein, President and CEO, Lundin Gold stated that 2024 will be an exciting year at Fruta del Norte, with plant throughput expected to expand to 5,000 tpd. Also, the installation of new floatation technology is likely to deliver significant improvement to recoveries, he added.