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Lundin Gold ( (TSE:LUG) ) has provided an announcement.
Lundin Gold posted record first-quarter 2026 results, driven by steady operations at its Fruta del Norte mine and exceptionally high realized gold prices. Gold production reached 119,742 ounces, with 115,308 ounces sold at an average realized price of $4,951 per ounce, lifting revenues to $567 million and supporting a sharp increase in profitability.
The miner generated record free cash flow of $349 million and net income of $273 million, ending the quarter with $704 million in cash and no debt while returning $278 million to shareholders through dividends. Management said the strong start underpins its 2026 guidance and funds ongoing mine-to-mill expansion studies, early-stage development at FDNS, and the largest exploration program in its history, reinforcing long-term growth prospects for stakeholders.
More about Lundin Gold
Lundin Gold Inc. is a Canadian precious metals mining company focused on the Fruta del Norte underground gold mine in Ecuador. The company produces gold in concentrate and doré, and sells into the global gold market, positioning itself as a low-cost, high-margin producer with an active growth and exploration pipeline in the Fruta del Norte district.
Lundin Gold leverages strong operating performance and disciplined cost control to generate substantial free cash flow and fund dividends. Its strategy centers on expanding production capacity, extending mine life through exploration, and maintaining a debt-free balance sheet to support shareholder returns and strategic growth initiatives.
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