Lundin Gold Q2 Earnings Surge on Higher Gold Prices
Mining News | 2026-08-10 11:13:13
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.
By Paul Ploumis
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: 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.
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What was the biggest highlight of Lundin Gold’s Q2 2026 performance?
Frequently Asked Questions
- How much gold did Lundin Gold produce in Q2 2026?
Lundin Gold produced 118,994 ounces of gold at its Fruta del Norte mine in Ecuador during the second quarter. Gold sales totaled 110,385 ounces.
- What was Lundin Gold’s realized gold price in Q2?
The company achieved an average realized gold price of $4,359 per ounce, supporting its strong quarterly revenue and earnings performance.
- What are Lundin Gold’s 2026 production and AISC targets?
Lundin Gold remains on track to meet its 475,000–525,000-ounce production guidance for 2026. It has also set AISC guidance of $1,110–$1,170 per ounce.
