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Overig advies 12/05/2023 15:44
Momentum From 2022 Continues with Strong Production and Cost Performance

VANCOUVER, BC, May 10, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to report results for the first quarter of 2023, highlighted by all-time high gold production of 140,021 ounces ("oz") and gold sales of 134,691 oz at a cash operating cost1 of $644 per oz sold and all-in sustaining cost ("AISC")1 of $728 per oz sold. Although the robust performance provides a strong start for the year, the Company's production guidance for 2023 remains unchanged as grade and gold production are expected to vary over the coming quarters. Due to the ramp up of sustaining capital activities starting in the second quarter, the most significant being the construction of the fourth tailings dam raise, the Company also maintains its AISC1 guidance. All amounts are in U.S. dollars unless otherwise indicated. View PDF Version.

As at March 31, 2023, the Company maintained a strong cash balance of $210 million compared to $363 million as at December 31, 2022 with the decrease being driven by the use of cash for debt reduction initiatives and dividends to shareholders. During the three months ended March 31, 2023, the Company utilized cash to optimize its balance sheet through the full repayment of the gold prepay facility ("GPP") of $208 million which provides the Company with greater exposure to the positive outlook on gold price. This one-time transaction resulted in additional interest and finance charges of $129 million with a resultant first quarter free cash flow of $(11.7).

Ron Hochstein, President and CEO commented, "Our strong operating and financial results were achieved while maintaining our outstanding safety record. On the heels of an excellent quarter, the operations team at FDN recently reached the milestone of four million hours worked without a Lost Time Incident or Medical Aid Incident. We continue to realize increased cash flows from Fruta del Norte as a result of our commitment to operational excellence and the full repayment of the gold prepay at the start of the year. The team at FDN is doing a great job, and I expect this positive momentum to continue."


1 Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 13 of the Company's MD&A for the first quarter ended March 31, 2023 available on SEDAR.


The following two tables provide an overview of key operating and financial results. see & read more on

May 10, 2023
Related Document
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VANCOUVER, BC, May 10, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce that its Board of Directors has declared a quarterly cash dividend of US$0.10 per common share. The dividend will be payable on June 27, 2023, to shareholders of record at the close of business on June 13, 2023. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes. View PDF version.

Based on today's closing price of the Company's common shares on the Toronto Stock Exchange ("TSX") of CAD$19.04, this dividend of US$0.10 per common share represents an estimated annual yield of approximately 2.8%.1

Dividends for shares trading on the TSX and the OTCQX will be paid in Canadian dollars on June 27, 2023, based on the prevailing exchange rate at the record date. Dividends for shares trading on Nasdaq Stockholm will be paid in Swedish kronor (SEK) in accordance with Euroclear principles on June 30, 2023. To execute the payment of the dividend, a temporary administrative cross-border transfer closure will be applied by Euroclear from June 9, 2023 up to and including June 13, 2023 during which period shares of the Company cannot be transferred between TSX and Nasdaq Stockholm. Payments to shareholders who are not residents of Canada will be net of any Canadian withholding taxes that may be applicable. For further details, please visit:

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