11:35 AM EST, 12/10/2024 (MT Newswires) -- (Updates shares.)

Lundin Gold ( LUGDF ) late on Monday released its 2025 guidance and three-year outlook for the Fruta del Norte gold mine in Ecuador, with gold production expected to be between 475,000 and 525,000 ounces.

The company said cash operating costs are forecast at US$730 to US$790 per ounce of gold sold. All-in sustaining costs are projected to be in the range of US$935 to US$995 per ounce of gold sold.

Total sustaining capital is estimated at US$75 million to US$85 million.

Lundin's regional exploration program will broaden with a new three-year greenfield strategy over an unexplored area of more than 50,000 hectares. In the first year, the focus will be on surface exploration and airborne surveys to identify new targets for exploration drilling in 2026.

The company expects to maintain a quarterly dividend of US$0.20 per share.

Lundin Gold ( LUGDF ) plans to release updated estimates of mineral reserves and resources for Fruta del Norte early in 2025. Around 15,000 meters of resource conversion drilling is scheduled for 2025.

The company's shares were last seen were last seen down $1.39 to $34.07 on the Toronto Stock Exchange.

Price: 34.05, Change: -1.41, Percent Change: -3.98