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(Kitco News) - Lundin Gold (TSX: LUG) today reported an all-time high quarterly gold production of 140,021 ounces from its Fruta del Norte gold mine in southeast Ecuador in the first quarter 2023.
During the same quarter in 2022, the company produced 121,665 ounces of gold. Gold sales in the first quarter of 2023 totalled 134,691 ounces versus 119,282 ounces sold in the same period last year.
In the first quarter of 2023, the mill processed 392,332 tonnes resulting in an average throughput rate of 4,359 tonnes per day at an average grade of 12.3 grams per tonne with recoveries of 90.6%.
“These results are in line with the variability incorporated within the company's production guidance of 425,000 to 475,000 oz for 2023, as grades and gold production are expected to vary over the coming quarters,” Lundin Gold said in a press release.
President and CEO Ron Hochstein commented, "2023 is off to a great start, and I'm extremely happy to announce that record gold production was achieved through an all-time high in recoveries and grade. I'm excited to continue building on the success of the first quarter and look forward to what the rest of the year has to offer."
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.
