Lundin Gold (TSX: LUG) has seen a slight improvement in gold production in the first quarter. The company this morning reported Q1 production of 117,313 ounces of gold, a 5% improvement on a year over year basis.

Production during the quarter amounted to 75,494 ounces of concentrate and 41,819 ounces in the form of dore. The performance follows the mill operating at a rate of 4,424 tonnes per day, with average grades of 10.4 g/t and recoveries of 88.5%.

“2025 is off to a strong start, marked by the successful completion of our Plant Expansion Project this quarter. Capitalizing on the downtime associated with the new equipment tie-ins, we proactively completed the relining of the SAG mill, as well as other maintenance that was originally scheduled in the second quarter, positioning us well for the remainder of the year,” commented CEO Ron Hochstein on the performance.

Full financial results are scheduled to be released on May 8, after the close of markets.

Lundin Gold last traded at $48.01 on the TSX.

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