Q1 2025 Lundin Mining Corp Earnings Call Transcript
Key Points
- Lundin Mining Corp (LUNMF) reported strong quarterly copper production of 76,774 tons and gold production of 31,849 ounces, keeping them on track to meet annual guidance.
- The company generated nearly a billion dollars in revenue, with $388 million in adjusted EBITDA and $337 million in adjusted operating cash flow.
- Lundin Mining Corp (LUNMF) successfully completed the sale of its European assets for $1.4 billion, significantly strengthening its balance sheet.
- The company announced a new shareholder distribution policy, committing to an annual return of approximately $220 million, aligning with peers in dividend yield.
- Lundin Mining Corp (LUNMF) reported a successful initial mineral resource estimate for the Vicuna project, highlighting it as one of the largest advanced-stage copper, gold, and silver development projects globally.
- The company experienced a working capital build of $215 million, impacting cash flow.
- Production costs from continuing operations totaled $517 million, slightly higher than previous quarters due to delayed shipments and increased costs at Eagle.
- The company faced impacts from winter weather affecting ore haulage, mining grades, and mill throughput at the Eagle mine.
- There are pending permit amendments required for the Candelaria underground expansion, which could affect timelines.
- The company is not currently considering copper hedges, which could expose it to downside risk in copper prices.
Good day and thank you for standing by. Welcome to the Lundin Mining first quarter 2025 financial results conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jack Lundin, President and CEO. Please go ahead.
Good morning and thank you everyone for joining Lundin Mining's first quarter 2025 conference call. Yesterday we reported our operating and financial results for Q1. A copy of our press release containing the details of the quarter and a presentation are available on our website, where a replay will also be made available. All figures presented are in US dollars unless otherwise noted.
I would like to remind everyone that yesterday's results and certain comments on the call include forward-looking information. I will draw your attention to the cautionary statements on this slide for reference and our latest relevant filings on SEDAR.
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