Lundin sale of 129,396 ounces of gold!

Aug 22, 2024

golden fruitsLundin Gold Inc report results for the second quarter of 2024 (2Q), highlighted by record quarterly revenues of $301 million realized from the sale of 129,396 ounces (oz) at an average realized gold price1 of $2,379 per oz. From this, record adjusted EBITDA 1 of $195 million was achieved.

The Company continues to generate significant cash flow with cash from operating activities of $144 million and adjusted free cash flow 1 of $112 million. Cash operating costs1 and all-in sustaining costs this quarter were $725 and $875 per oz sold, respectively. During the quarter, the Company continued to focus on operational excellence, and the underlying cost of operations was reduced. Prevailing gold prices increased royalties, however, which impacted overall cash operating costs1 and AISC. All amounts are in U.S. dollars unless otherwise indicated.

The end of the second quarter marked the closing of the buyout of the Stream Facility and Offtake from Newmont Corporation following payment of the first tranche of the purchase price of $180 million. The second and final tranche of $150 million is due on September 30, 2024. As at June 30, 2024, Lundin Gold had a cash balance of $238 million and is now debt free.

“I’m pleased to report another record quarter for Lundin Gold across a number of key metrics. The strong financial performance achieved was underpinned by strong grades, improvements in recoveries and a high average mill throughput.” Ron Hochstein, President and CEO commented.

“Moving into the second half of 2024, we will continue to focus on operational excellence and will advance our now increased near-mine exploration program. We are on track with our process plant expansion project and expect operations to be positively impacted once completed by the end of this year. Additionally, our debt free position following the buyout of the Stream Facility and Offtake has allowed us to double the amount of our quarterly dividend, from $0.10 to $0.20 per share, equivalent to approximately $200 million annually” Ron added.

You May Also Like

Facebook Feeds

Cover for Heera Zhaveraat
98,206
Heera Zhaveraat

Heera Zhaveraat

Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D

This message is only visible to admins.
Problem displaying Facebook posts.
Click to show error
Error: No posts available for this Facebook ID

Twitter Feeds

hank you SriSriDurgaPooja Bengaluru team for the kind invitation. Blessed to witness Maa Durga Darshan at Bannappa Park, Cubbonpet. Wishing all a joyous Navratri, Durga Pooja & Dusshera. 🌸🙏
– Dr. Chetan Kumar Mehta, CMD, Laxmi Diamonds Bengaluru

hank you SriSriDurgaPooja Bengaluru team for the kind invitation. Blessed to witness Maa Durga Darshan at Bannappa Park, Cubbonpet. Wishing all a joyous Navratri, Durga Pooja & Dusshera. 🌸🙏
– Dr. Chetan Kumar Mehta, CMD, Laxmi Diamonds Bengaluru

The man. The myth. The legend. Immortalized in platinum—rare, resilient & timeless.
The MS Dhoni Signature Edition by Men of Platinum is a tribute to his legacy.
Explore: http://www.menofplatinum.com
#MSDhoni #MenofPlatinum #PlatinumJewellery #MSDhoniSignatureEdition

Save the Date! ✨ JGTD – Jewellery, Gem & Technology in Dubai
📅 Nov 11–13, 2025 | 📍Dubai Exhibition Centre
Discover world-class jewellery, gems & tech innovations.
👉 https://www.jgtdubaijewelleryshow.com/en?utm_source=link&utm_medium=social&utm_campaign=HZ_jgtd25

Load More

HZ is the Official Supporter of :

Member Of

Founder Member Of