Record revenues and adjusted EBITDA achieved on the back of strong gold price
VANCOUVER, BC, Aug. 8, 2024 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to report results for the second quarter of 2024, highlighted by record quarterly revenues of $301 million realized from the sale of 129,396 ounces ("oz") at an average realized gold price1 of $2,379 per oz. From this, record adjusted EBITDA1 of $195 million was achieved. The Company continues to generate significant cash flow with cash from operating activities of $144 million and adjusted free cash flow1 of $112 million or $0.47 per share, which excludes the one-time finance expense incurred upon buy out of the stream loan credit facility (the "Stream Facility") and offtake commitment (the "Offtake"). Cash operating costs1 and all-in sustaining costs ("AISC")1 this quarter were $725 and $875 per oz sold, respectively. During the quarter, the Company continued to focus on operational excellence, and the underlying cost of operations was reduced. Prevailing gold prices increased royalties, however, which impacted overall cash operating costs1 and AISC1. All amounts are in U.S. dollars unless otherwise indicated. PDF Version
Read more at newswire.ca