Lundin Gold Inc

Latest Results (26.12.2024):

Record Revenue

Lundin Gold Inc. reported record revenues of $323 million for the third quarter of 2024, driven by the sale of 125,887 ounces of gold at an average realized price of $2,615 per ounce. This significant revenue increase was supported by a strong gold price environment, contributing to the company's robust financial performance.

Cash Flow and EBITDA

During the third quarter of 2024, Lundin Gold Inc. achieved record cash flow from operating activities amounting to $218 million. The company also reported an adjusted free cash flow of $182 million, or $0.76 per share. Additionally, the adjusted EBITDA reached a record high of $220 million, reflecting the company's strong operational performance and favorable market conditions.

Net Income and Earnings

Lundin Gold Inc. reported a net income of $136 million for the third quarter of 2024, translating to a basic income per share of $0.57. This impressive net income was achieved after accounting for corporate, exploration, and tax expenses, highlighting the company's profitability during the period.

Production and Costs

In the third quarter of 2024, Lundin Gold Inc. produced 122,154 ounces of gold, with cash operating costs of $681 per ounce sold and all-in sustaining costs (AISC) of $877 per ounce sold. The company maintained its production efficiency despite higher sustaining capital expenditures, which influenced the AISC to trend towards the upper end of guidance.

Outlook and Dividends

Lundin Gold Inc. anticipates achieving the high end of its production guidance of 450,000 to 500,000 ounces for the year 2024. The company also expects to continue generating significant cash flow, supported by current gold prices and low operational costs. Lundin Gold plans to maintain quarterly dividends of $0.20 per share, equating to approximately $200 million annually, based on the current share count.