Lundin Gold Inc. (TSX: LUG) announced on Wednesday the production results for Q3 2021 at its Fruta del Norte gold mine in southeast Ecuador. The results highlighted producing 107,663 gold ounces for the quarter, up from Q3 2020’s production of 94,250 gold ounces.
During the quarter, the company milled a total of 365,316 tonnes of ore material with an average head grade of 10.3 g/t gold. This is an increase from last year when the company milled 324,143 tonnes of ore material with 10.4 g/t gold grade. Recovery rates also increased this quarter to 88.8% from 86.8% last year.
To date, the company has produced 320,599 gold ounces for the first nine months of the year. Lundin Gold CEO Ron Hochstein said the firm is “on track to meet the upper end of [its] 2021 production guidance of 420,000 ounces of gold.”
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The mining firm relayed that it will release its full Q3 2021 results on November 9, 2021 after the markets close.
Lundin Gold last traded at $10.94 on the TSX.
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