BMO Capital maintained its Outperform ranking and C$26.00 worth goal on Lundin Gold (OTC:) Inc. (LUG:CN) (OTC: FTMNF) on Tuesday after the corporate reported second-quarter gold manufacturing of 133,000 ounces ( koz).
The upper-than-expected manufacturing was on account of gold grades averaging 11 grams per ton (g/t), exceeding BMO Capital’s estimate of 9.8 g/t. Moreover, each manufacturing unit throughput and gold restoration charges for the quarter had been in keeping with the corporate’s expectations, reaching 4,700 tonnes per day (ktpd) and 89% respectively.
BMO Capital’s evaluation reveals that Lundin Gold is well-positioned to fulfill its anticipated annual manufacturing steering of between 450 ounces and 500 ounces of gold. The corporate’s optimistic outlook for the corporate stays agency, and its reiterated worth goal of CAD 26.00 displays its confidence in Lundin Gold’s working efficiency.
Lundin Gold’s robust quarterly manufacturing is a big achievement because it not solely exceeded trade expectations however was additionally according to the corporate’s focused manufacturing targets. The consistency of plant throughput and gold restoration charges additional highlights the corporate’s operational effectivity and talent to take care of anticipated efficiency ranges.
BMO Capital’s affirmation of Lundin Gold’s Outperform ranking and Secure worth goal underscores the corporate’s constructive outlook because it continues to guide the gold manufacturing panorama in 2024.
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