Lundin Gold Inc. generated adjusted earnings of $202 million for the second quarter ended June 30, 2026, supported by gold sales of 110,385 ounces at an average realized price of $4,359 per ounce.

The company produced 118,994 ounces of gold during the quarter at its Fruta del Norte mine in Ecuador, down from 139,433 ounces in the second quarter of 2025. All-in sustaining costs rose to $1,176 per ounce sold, compared to $927 per ounce sold in the prior-year period. Total revenues reached $478 million, while cash operating costs settled at $1,016 per ounce sold.

Lundin Gold ended the quarter with $507 million in cash and cash equivalents, after generating $96 million in free cash flow, returning $293 million to shareholders through dividends, and paying $221 million in annual government profit-sharing and income taxes. During the period, the company also completed a silver stream-for-equity transaction with LunR Royalties Corp., distributing 50,505,051 LunR shares as a dividend-in-kind valued at $747 million.

The stock rose 0.23% in the session following the August 6 release, closing at a price of $86.70 on the Toronto Stock Exchange.

Lundin Gold remains on track to meet its full-year 2026 production guidance of 475,000 to 525,000 ounces and AISC guidance of $1,110 to $1,170 per ounce sold. First-half production totaled 238,736 ounces, accounting for approximately 48% of the guidance midpoint. The company plans to make a single, integrated investment decision combining mine planning and mill expansion later in 2026, alongside targeting a maiden Mineral Resource estimate for the Sandia copper-gold porphyry in early 2027.

“We delivered another solid quarter generating strong margins and substantial shareholder returns while continuing to advance our growth strategy. The quality of FDN and the strength of our operating teams were reflected in another quarter of disciplined cost performance and robust profitability.

Our exploration programs consistently demonstrate the quality and size potential at FDN. Subsequent to quarter end, we announced the discovery of two new porphyry centres, bringing the total to seven and reported further exceptional drill results across FDNS, FDN East and FDN. In parallel, we advanced development at FDNS and commenced development towards FDN East, positioning both deposits for continued resource growth, conversion and potential future production. These successes reinforce our confidence that we have multiple avenues for long-term value creation across the broader Fruta del Norte mineralized system. While still early days, advancing Sandia towards a maiden mineral resource by early next year represents a key milestone as we progress towards demonstrating the true potential of what is emerging as a world-class gold and copper mineral district.

During the quarter, we returned significant value to shareholders through both cash dividends and the distribution of LunR shares as a dividend-in-kind. Looking ahead, we intend to use our cash resources to enhance shareholder returns by commencing purchases under our normal course issuer bid in the near term, reflecting our confidence in the long-term value of the business.”

— Jamie Beck, President and CEO

Read the full announcement: Lundin Gold Reports Second Quarter 2026 Results