Record Gold Production and Sales
Lundin Gold produced over 122,000 ounces of gold and sold approximately 125,000 ounces in Q3 2025. The average grade of ore milled was 8.9 grams per tonne with an average recovery of 88.2%.
Strong Financial Performance
Revenue increased by 38% to $447 million compared to 2024, and net income hit a record high of $208 million, up 53%. Earnings per share also achieved a record high of $0.86, up 51%.
Robust Free Cash Flow and Dividend Increase
Generated $216 million in cash flow from operations and $191 million in free cash flow. The Board declared a total dividend of $0.80 per share, an increase reflecting 100% of normalized free cash flow.
Exploration Success and Expansion
Expanded the 2025 exploration program from an original 80,000 meters to a minimum of 120,000 meters. Significant progress in copper-gold porphyry systems at Trancaloma, Sandia, and Castillo.
Improved Cost Margins
Cash operating cost per ounce was $861 and all-in sustaining cost was $1,036 per ounce sold, resulting in an ASIC margin of 71%.