Lundin sales Gold over 59K Oz in Q1
At the juncture Lundin Gold's first quarter ended March 31, 2020, Ron Hochstein, Lundin Gold President, and CEO said, “We are working towards the restart of operations and we believe our financial position is sufficient to support the Company until production resumes at Fruta de Norte. We have a dedicated team of employees at the site carrying out activities to mitigate the impact of the suspension on our operations and we have reduced costs in other areas.
“The Company is contributing to the fight against the pandemic and has partnered with the provincial and local health authorities to provide aid to the local communities in response to Covid-19.”
The operating results noted that the Lundin achieved commercial production on February 20, 2020. Mine production of 198K tonnes of ore & processed 244K tonnes of ore at an average daily rate of 3,018 tonnes per day at an average head grade of 7.9 g/t.
Gold production totaled 51,320 ounces of which 37,568 oz were produced as a concentrate and 13,752 oz were produced in the form of doré, sold 59,317 oz of gold at an average price of $1,564 per oz1.
Lundin Gold suspended production activities temporarily at the site on March 22, 2020.