Lundin Gold’s shares rose 5.5% to C$32.74 apiece by noon ET following the announcement, taking its market capitalization to C$7.9 billion ($5.5bn). The stock traded between C$14.23 and C$35.89 over the past 52 weeks.
Near-term outlook
Last month, Lundin raised its annual production guidance to 475,000–525,000 oz. for 2025 through 2027 after making progress at expansion projects aimed at improving throughput and recovery.
Following the expansion, the Fruta del Norte mill is expected to have a throughput of 5,000 tonnes per day on average, the company has said, adding that further investments are planned to increase that to 5,500 tonnes starting in 2026.
In addition to upgrading the mine operation, Lundin also has a three-year greenfield exploration strategy to boost the Fruta del Norte resources.
The company acquired Fruta del Norte in 2014 from Kinross Gold, which had to halt operations after failing…
