Lundin Gold Inc (OTCPK:LUGDF)

Q1 2026 Lundin Gold Inc Earnings Call Transcript

May 7, 2026 / 03:00 PM GMT

Release Date Price: $64.56 (-2.28%)

Transcript

Key Points

Positve

Lundin Gold Inc (LUGDF) reported a strong start to 2026 with solid operating performance at Fruta del Norte, generating significant free cash flow.
The company produced approximately 120,000 ounces of gold in Q1, with a record average mill throughput of 5,520 tons per day.
Lundin Gold Inc (LUGDF) generated $370 million in operating cash flow and $349 million in free cash flow, increasing its cash balance to over $700 million.
The company declared a Q1 dividend of $1.21 per share, reflecting 100% of normalized free cash flow, which is above the fixed component of its dividend policy.
Exploration and conversion drilling at FDNS and FDN East yielded some of the highest-grade intercepts ever recorded, reinforcing the scale and quality of the district.

Negative

The company recorded one lost time injury and three medical treatment incidents during the quarter, highlighting ongoing safety challenges.
Recoveries in Q1 were slightly below the full-year guidance of 91%, attributed to geological variability and increased throughput.
Mine resequencing due to geotechnical challenges is expected to impact Q2 production, with a planned 10-day mill shutdown.
The company faces challenges in predicting geological variability, which affects recovery rates and operational planning.
There is uncertainty regarding the timeline for the mine-to-mill expansion study and potential throughput increases, with more details expected later in the year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LUG.TO - Lundin Gold Inc
Q1 2026 Lundin Gold Inc Earnings Call
May 07, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and welcome to the Lundeen Gold's Q Month 2026 Earnings Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press *0 for the operator.

This call is being recorded on Thursday, May 7, 2026. I would now like to turn the conference over to Jamie Beck, CEO. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator, and good morning, everyone.

Thank you

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