Lundin Gold reports net income of $62.7M in Q3, touts 'another fantastic quarter' for the company

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LundinGold Lundin Gold reports net income of $62.7M in Q3, touts 'another fantastic quarter' for the company

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Lundin Gold said that income from mining operations was $83.9 million, adding that the company generated cash flow of $105 million from operations and ended the quarter with a cash balance of $304 million. Free cash flow for the quarter was $65.2 million or $0.28 per share. According to a press release, net income was positively impacted by the recording of gold sales from the delay of shipments of gold concentrate from the second quarter, offset by the lower gold price realized on sales in Q3 2022.

The company expects that its production will be at or near the high end of its guidance of 430,000 to 460,000 oz and at the low end of or slightly below its AISC guidance of $820 to $870 per oz gold sold.

 

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