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FTMNF - Lundin Gold: New High-Grade Gold Producer Is A Takeover Target
Fortress Minerals Corp
Lundin Gold (FTMNF) operates the high-grade Fruta del Norte mine in Ecuador, which just went into commercial production before the COVID-19 pandemic hit and forced the temporary closure of the operation. After producing about 50,000 ounces of gold before the shutdown, Lundin restarted the mine in early July and is forecasting to produce over 200,000 ounces for the full year at a very high head grade of 10 g/t gold.
Fruta del Norte is a world-class project that has been both a prized and troubled asset since being discovered by Aurelian Resources in