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Lundin Gold ( (TSE:LUG) ) just unveiled an update.
Lundin Gold has reported record Proven and Probable Mineral Reserves of 5.85 million ounces of gold at its Fruta del Norte mine in Ecuador, a 6% year-over-year increase even after mining depletion in 2025. The gain reflects higher gold price assumptions, cost discipline, design optimizations, and the rapid addition of new reserves from the FDNS satellite deposit.
The company also expanded its broader resource base to 7.48 million ounces of Measured and Indicated resources and 2.03 million ounces of Inferred resources, supported by conversions from FDNS and the first Inferred resource at FDN East. These additions establish FDNS and FDN East as meaningful near-mine deposits, reinforcing the district’s growth potential and underlining Lundin Gold’s ability to turn exploration success into extended mine life and potential long-term value for shareholders.
More about Lundin Gold
Lundin Gold Inc. is a Canadian mining company focused on the exploration, development, and operation of gold deposits, with its flagship asset being the high-grade underground Fruta del Norte mine in Ecuador. The company targets long-life, low-cost gold production in a district-scale geological setting, positioning itself as a key player in the Latin American gold mining sector.
For a thorough assessment of LUG stock, go to TipRanks’ Stock Analysis page.