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Lundin Gold ( (TSE:LUG) ) has issued an announcement.
Lundin Gold reported first‑quarter 2026 production of 119,742 ounces of gold from its Fruta del Norte mine in Ecuador, slightly above the 117,313 ounces produced a year earlier. The mine processed nearly 497,000 tonnes of ore at an average throughput of 5,520 tonnes per day, a quarterly record that exceeded annual guidance and delivered recoveries of 89.2% despite a lower head grade.
Management highlighted that the strong start to the year, driven by increased mill throughput and stable operations, supports the company’s ability to meet its 2026 production target of 475,000 to 525,000 ounces. The quarter also benefited from a significantly higher average realized gold price of $4,951 per ounce, reflecting rising gold prices on provisionally priced sales and reinforcing Lundin Gold’s solid positioning amid a strong gold price environment.
More about Lundin Gold
Lundin Gold Inc. is a Canadian mining company headquartered in Vancouver that owns and operates the high‑grade Fruta del Norte gold mine in southeast Ecuador. The company focuses on responsible gold production, operational excellence, and exploration of its extensive land package to support long‑term growth and value for shareholders and local communities.
Learn more about LUG stock on TipRanks’ Stock Analysis page.