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Fruta del Norte produced 28 678 oz in 2019

10th January 2020

By: Creamer Media Reporter

     

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The Fruta del Norte gold mine, in Ecuador, produced 28 678 oz of gold by the end of 2019 and is on track for commercial gold production in the second quarter of this year, TSX-listed Lundin Gold reported on Thursday.

Of the total production, 3 411 oz were produced in the form of doré and 25 267 oz produced as concentrate. A total of 3 400 t of concentrate was produced of which 2 676 t was shipped to a smelter in Finland by year-end.

Lundin reported that ramp up of operations continued according to plan in the mine and the process plant.

The mine should reach commercial production on schedule in the second quarter of 2020.

Construction progress was 99.2% complete as at year-end. Only the paste plant and the Zamora river bridge remained to be completed, which were anticipated to occur in the second and third quarters of 2020, respectively.

Meanwhile, Lundin updated the Fruta del Norte's life-of-mine (LoM) plan from previously disclosed estimates. Forecast LoM all-in sustaining costs increased slightly from the previous estimate of $583/oz to $621/oz of gold, representing a 6.5%, or $38 increase.

Fruta del Norte will be Ecuador’s biggest gold mine, producing an average of 310 000 oz/y.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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