https://www.miningweekly.com
Flow|generation|Gold|PROJECT|Flow|Operations
Flow|generation|Gold|PROJECT|Flow|Operations
flow-company|generation|gold|project|flow-industry-term|operations

Lundin Gold extinguishes bank debt

9th November 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

On the back of robust free cash flow generation during the third quarter, Toronto-listed Lundin Gold on Wednesday announced that it had elected to fully repay its remaining bank debt.

The company, which generated free cash flow of $80.9-million, or $0.34 a share, during the September quarter, repaid the remaining $70.5-million plus accrued interest under its senior debt facility earlier this month.

The original maturity date was June 2026.

Upon completion of this repayment, Lundin would have extinguished two of its project finance facilities, being the gold prepay credit facility and the senior facility, which had an original combined principal amount of $500-million, after only three years of operations.

“After another strong quarter of free cash flow generation, we are advancing our debt reduction strategy with the repayment in full of the remaining balance of our senior debt facility,” said president and CEO Ron Hochstein.

He also reported that Lundin was on track to achieve its revised all-in sustaining cost (AISC) guidance of $820/oz to $870/oz and that it would be near the upper-end of its revised production guidance of 450 000 oz to 485 000 oz.

During the third quarter, Lundin produced 112 212 oz of gold at an AISC of $907/oz.

Edited by Creamer Media Reporter

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.204 0.24s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: