-- Lundin Gold (LUG.TO) after trade Thursday reported first-quarter gold production of 119,742 ounces from its Fruta del Norte gold mine in southeast Ecuador, higher than in the prior corresponding period, while it saying it is "on track" to achieve its 2026 production guidance.
Of the total quarterly gold production, 79,451 ounces were produced as concentrate and 40,291 oz as dore, a statement said. During the same quarter in 2025, the company produced 117,313 oz of gold, it added.
The company said in the first quarter, the mill processed 496,798 tonnes of ore resulting in an average throughput rate of 5,520 tonnes per day at an average grade of 8.4 grams per tonne with recoveries of 89.2%.
"First quarter production of 119,742 ounces marks a strong start to 2026, reflecting an increase in mill throughput and stable operating performance at Fruta del Norte. During the quarter, average throughput exceeded our annual guidance rate of 5,500 tpd, reaching a new quarterly record of 5,520 tpd. With this strong operating momentum, we are on track to achieve our 2026 production guidance of 475,000 to 525,000 ounces of gold while maintaining a focus on optimizing recoveries and overall mine and plant performance," chief executive Jamie Beck said.
Shares in Lundin Gold closed up $0.11to $112.78 on the Toronto Stock Exchange.