CA - Lundin Gold Inc. (LUGDF) Q1 2024 Earnings Call Transcript
2024-05-11 01:21:02 ET
Lundin Gold Inc. (LUGDF)
Q1 2024 Earnings Conference Call
May 9, 2024 12:00 PM ET
Company Participants
Ron Hochstein – President and Chief Executive Officer
Terry Smith – Chief Operating Officer
Chris Kololian – Chief Financial Officer
Conference Call Participants
Bryce Adams – CIBC Capital Markets
Don DeMarco – National Bank Financial
Kerry Smith – Haywood
Terence Ortslan – TSO & Associates
Presentation
Operator
Good afternoon, ladies and gentlemen, and welcome to the Lundin Gold’s First Quarter of 2024 Results Conference Call. At this time all lines are in a listen-only mode. [Operator Instructions] This call is being recorded today, May 9, 2024.
I would now like to turn the conference over to Ron Hochstein. Please go ahead.
Ron Hochstein
Thank you, Lester and good morning, afternoon everyone. Thank you all for joining us on this slightly later than usual conference call today where Terry Smith, Chief Operating Officer; Chris Kololian, Chief Financial Officer, and I are going to take you through our results for the first quarter of 2024.
Please note Lundin Gold’s disclaimers on this slide. This discussion includes forward-looking information. Actual future results may differ from expected results for a variety of reasons described in the caution regarding forward-looking information and statements section of our press release. Lundin Gold is a U.S. dollar reporting entity, and all amounts in this presentation refer to U.S. dollars, unless otherwise wise indicated.
Lundin Gold has kicked off 2024 with first quarter gold production of over 111,500 ounces and gold sales of just under 109,000 ounces at a cash operating cost of $735 per ounce sold and all-in sustaining cost of $868 per ounce sold. These results are a great indication of things to come, and puts the company firmly on track to meet its production guidance of 450,000 to 500,000 ounces and an all-in sustaining cost guidance of $820 to $890 per ounce for the year.
Bolstered by this strong operating performance, reduced debt servicing costs and record high gold prices, Lundin Gold generated in excess of $100 million cash from operating activities and free cash flow of $82 million during the first quarter....
Lundin Gold Inc. (LUGDF) Q1 2024 Earnings Call Transcript