Lundin Gold has restarted operations at its Fruta del Norte (FDN) gold mine in Ecuador and plans to resume shipments in the coming days.
Operations were suspended in March due to the covid-19 pandemic.
Based on an expected plant ramp of 3,500 t/d over the next two months, FDN is expected to generate 150,000 ounces. 170, 000 ounces. gold at the time of this year, for an expected total of 200,000 ounces. 220,000 ounces 2020.
At noon on Monday, Lundin’s shares rose 5.1% in the TSE
In the past, the company had announced that the mine had reached advertising production on February 20, 2020.
The underground mine is re-generating ore and is expected to increase in the next 3 months. Lundin has covid-19 protocols on site to minimize hazards and communities.
At this time this year, the plant’s production is expected to average 3,200 t/d with a head law of 10 g/t gold. All-inclusive prices are expected to be between $770 and $850 consistent with the ounce. 2020, which includes additional prices due to covid-19 and increased related production.
In a note to investors, Brian Quast of BMO Capital Markets noted that it was a positive progression for the company and withdrew its “speculative” designation on stocks. Quast maintains an unchanged target value of C$14.50 and a “Best Performance” score for stocks.
Over a lifetime of 13 years, the farm is expected to produce an average of 325,000 ounces of gold. $621 consistent with AISC’s lifetime$621 mine consistent with ounce. The NDF is located in the 38 km2 Suárez Basin, with porters in a position to drill nearby. The likely mineral reserves existing for the amount consistent with a quantity of 15.5 million tons of 9.67 g/t of gold, contain a total of 4.8 million ounces of gold. – reserves are estimated cutting laws between 4.7 g/t gold and 6.8 g/t gold.
At noon on Monday, Lundin’s inventory rose by 5.1% on the TSE. The company has a market capitalization of $5.6 billion Canadians.
(This article was first published in the Canadian Mining Journal)