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Lundin Gold produces 476 koz of gold in 2022, beats guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Lundin Gold (TSX: LUG) today reported Q4 2022 gold production of 121,139 oz from its Fruta del Norte gold mine in Ecuador, resulting in total gold production of 476,329 oz for the year, exceeding the high end of the company's 2022 guidance of 460,000 oz.

Of the total quarterly gold production, 78,756 oz were produced as a concentrate and 42,383 oz as doré. During the same quarter in 2021, the company produced 107,915 oz of gold.

The company said that in Q4 2022, the mill processed approximately 420,838 tonnes at an average throughput rate of 4,574 tonnes per day; the average grade of ore milled was 10.0 grams per tonne, and average recovery was 89.6%.

President and CEO Ron Hochstein commented, "I am extremely happy to announce that for the second year running, Lundin Gold has beaten its production guidance. We continue to push the boundaries of what Fruta del Norte is capable of, and noteworthy improvements have been made across the board as compared to last year.

“Our average throughput of 4,574 tpd this fourth quarter is proof that there is a lot more we can get out of Fruta del Norte, and I'm particularly excited to continue building on our successes in 2023."

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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