Lundin Gold reports Q2 results and high-grade drilling in Ecuador

Lundin Gold reported its second-quarter 2026 operating results for the Fruta del Norte mine in Ecuador, producing approximately 119,000 ounces of gold. While the quarter was expected to be the company's lowest-production period of the year, first-half production totaled about 239,000 ounces, placing the company on track to meet its full-year guidance of 475,000 to 525,000 ounces.

In addition to steady operations, the company reported significant drilling results at the Fruta del Norte site. Notable findings include a section in the south showing 108.61 grams of gold per tonne over 11.75 meters, and high-grade samples exceeding 230 grams of gold per tonne in new sections. Management is currently advancing the development of FDN East to expand the project complex.

Financially, Lundin Gold recorded net revenue of $478 million for the quarter, with adjusted earnings totaling $202 million. Cash operating costs averaged $1,016 per ounce, while all-in sustaining costs were $1,176 per ounce. Despite these operational metrics and strong drilling data, the company's stock has faced recent downward pressure.