Lundin Gold boasts record quarterly free cash flow in Q2, announces dividend LundinGold
- Lundin Gold yesterday reported Q2 2023 gold production of 129,731 ounces from its Fruta del Norte gold mine in southeast Ecuador, up 16% from Q2 2022 .
Lundin Gold said it generated $132 million in free cash flow over the three-month period , the highest quarterly free cash flow achieved to date. Lundin Gold said that based on “very strong” performance during the first half of 2023, the company has increased its 2023 production guidance to 450,000 to 485,000 oz from 425,000 to 475,000 oz. In addition, the company has reduced its 2023 cash operating cost and all-in sustaining cost guidance.
Commenting on the results, President and CEO Ron Hochstein said, "As a result of strong operating results in the first half of 2023 and confidence that our team can continue to deliver excellent performance, we are increasing production guidance and reducing cash operating cost and AISC guidance.
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