Lundin still missed earnings per share expectations due to higher taxes. It reported adjusted net earnings per share (EPS) in the three months to the end of June at $0.09, down from $0.25 in the same period of 2021 and missing the market consensus.
Adjusted Q3 earnings before interest, taxes, depreciation, and amortization (EBITDA) of $117 million, was higher than $113 million a year earlier thanks mainly to the sale of additional ounces produced late in the second quarter, but not shipped and sold until the third quarter.
Lundin noted that blockades on some of Ecuador’s major highways during a national strike in the country, which ended on June 30th, impacted positively revenues, income from mining operations, earnings, and cash flow in Q3 2022.
Production at Fruta del Norte reached 355,190 ounces in the first nine months of the year at an all-in sustaining cost (AISC) of $785 per ounce.
“We continue to strive for…
