Lundin Gold Q4 Earnings Call Highlights

Lundin Gold (TSE:LUG) utilized its fourth-quarter and full-year 2025 net telephone to item grounds operational and fiscal show astatine its Fruta del Norte (FDN) mine, on with advancement connected reserve maturation and a processing enlargement program that would incorporated the adjacent FDNS deposit.

President and CEO Jamie Beck said 2025 was “an exceptional year,” pointing to dependable operational transportation and ongoing optimization astatine FDN. The institution produced astir 498,000 ounces of golden and sold 503,000 ounces. Average caput people was 9.5 grams per tonne with 89% mean recovery, and the mill processed much than 1.8 cardinal tonnes astatine a grounds mean throughput of 5,009 tonnes per day.

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Chief Operating Officer Terry Smith said the 4th fourth capped a twelvemonth of accordant performance, including grounds quarterly mining output of 501,301 tonnes. The mill processed 484,950 tonnes astatine an mean of 5,271 tonnes per time contempt reduced operating hours from unplanned maintenance. Smith added that the institution remains connected way toward its extremity of averaging 5,500 tonnes per time successful 2026.

On safety, Smith said the institution began 2025 focused connected improving show and finished the twelvemonth with nary mislaid clip incidents and its lowest yearly full recordable incidental complaint to date.

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Management emphasized disciplined outgo show contempt higher royalty and profit-sharing impacts associated with stronger golden prices. For 2025, currency operating costs averaged $838 per ounce and all-in sustaining costs (AISC) averaged $1,015 per ounce, which Beck said resulted successful a basal borderline of 72%.

Chief Financial Officer Chester See said the institution generated $1.0 cardinal of currency travel from operations and $926 cardinal of escaped currency travel successful 2025, supported by “modest superior spending requirements” and debased superior intensity. The institution ended the twelvemonth with $630 cardinal successful currency aft paying $664 cardinal successful dividends, and moving superior of $595 cardinal astatine December 31, 2025, up from $459 cardinal a twelvemonth earlier.

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See besides explained that currency operating costs and AISC were supra the company’s 2025 guidance scope chiefly due to the fact that guidance was based connected a $2,500 per ounce golden terms assumption, portion mean realized golden terms for the twelvemonth was $3,594 per ounce. He said royalties and statutory nett sharing summation reported portion costs by astir $10 per ounce for each $100 per ounce summation successful golden price, implying astir a $110 per ounce interaction versus a $60 per ounce presumption utilized successful guidance.