LUNDIN GOLD REPORTS Q1 2024 PRODUCTION OF 111,572 OUNCES OF GOLD
In the first quarter of 2024, the mill processed 413,596 tonnes at an average throughput rate of 4,545 tonnes per day, the average grade of ore milled was 9.5 grams per tonne, and average recovery was 88.3%. These results provide a strong foundation for meeting our production guidance of 450,000 to 500,000 oz for 2024.
Production Results
|
Q1 2024 |
Q1 2023 |
Ore processed (tonnes) |
413,596 |
392,332 |
Average throughput (tonnes per day) |
4,545 |
4,359 |
Average mill feed grade (grams per tonne) |
9.5 |
12.3 |
Recovery (%) |
88.3 % |
90.6 % |
Gold ounces produced |
111,572 |
140,021 |
Concentrate |
73,964 |
88,236 |
Doré |
37,608 |
51,785 |
Gold ounces sold |
108,916 |
134,691 |
Average realized gold price ($/oz sold) 1 |
2,141 |
1,952 |
First Quarter of 2024 Results Conference Call and Webcast
Non-IFRS Financial Measures
This news release refers to certain financial measures, such as average realized gold price, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. These measures may differ from those made by other companies and accordingly may not be comparable to such measures as reported by other companies. These measures have been calculated on a basis consistent with historical periods. Please refer to the Company's MD&A filed on SEDAR+ under the Company's profile at www.sedarplus.ca, pages 16 to 18, for the financial year ended
Qualified Persons
The technical information relating to Fruta del Norte contained in this News Release has been reviewed and approved by
About
The Company's board and management team have extensive expertise in mine operations and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices.
Additional Information
The information in this release is subject to the disclosure requirements of
Caution Regarding Forward-Looking Information and Statements
Certain of the information and statements in this press release are considered "forward-looking information" or "forward-looking statements" as those terms are defined under Canadian securities laws (collectively referred to as "forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. By their nature, forward-looking statements and information involve assumptions, inherent risks and uncertainties, many of which are difficult to predict, and are usually beyond the control of management, that could cause actual results to be materially different from those expressed by these forward-looking statements and information. Lundin Gold believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. This information speaks only as of the date of this press release, and the Company will not necessarily update this information, unless required to do so by securities laws.
This press release contains forward-looking information in a number of places, such as in statements pertaining to estimates of Mineral Reserves and Mineral Resources and the anticipated Process Plant Expansion and improvement of recoveries. There can be no assurance that such statements will prove to be accurate, as Lundin Gold's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in Lundin Gold's Annual Information Form dated
_____________________________ |
1 Refer to Non-IFRS Financial Measures section in this News Release. |
SOURCE