06:28 AM EST, 02/21/2025 (MT Newswires) -- Lundin Gold ( LUGDF ) late on Thursday reported a jump in adjusted net earnings on higher revenues and production.

Adjusted net earnings rose to US$129.1 million, or US$0.54 per share, up from US$33.2 million, or US$0.14 per share.

Net revenue rose to US$341.8 million from US$190.7 million. Adjusted EBITDA was US$232.2 million, jumping from US$95.9 million.

The company produced 135,241 gold ounces, up from 99,310 gold ounces.

Lundin Gold ( LUGDF ) maintained its 2025 guidance for gold production of between 475,000 and 525,000 ounces based on an average throughput rate of 5,000 tonnes per day.

Separately, Lundin Gold ( LUGDF ) boosted its quarterly cash dividend to US$0.30 per common share from US$0.20 per common share.

The dividend will be payable on March 26 to shareholders of record at the close of business on March 11.

The board has also approved the company's notice of intention to commence a normal course issuer bid, which has been accepted by the TSX.

Under the NCIB, the company may purchase for cancellation up to 12 million common shares representing 5% of its issued and outstanding common shares as of Feb. 11.

Purchases can be made during a 12-month period starting Feb. 25, and ending Feb. 24, 2026, or when Lundin Gold ( LUGDF ) reaches the maximum purchases permitted under the NCIB.