Lundin Gold Inc. recently announced its financial results for the third quarter of 2025, featuring revenues of $447 million and record net income of $208 million ($0.86 per share).
While record-high gold prices have strengthened financial performance, they have also increased royalties and statutory profit sharing payable to employees, which impact both cash operating costs1 and AISC1. The Company also announced cash dividends of $0.80 per share (approximately $193 million) comprised of the fixed quarterly dividend of $0.30 per share and the variable quarterly dividend of $0.50 per share, to be paid at the end of the fourth quarter. All dollar amounts are stated in US dollars unless otherwise indicated.
Ron Hochstein, President and CEO commented, "I'm extremely pleased to announce that Lundin Gold has delivered an exceptional third quarter highlighted by record net income of $208 million and robust free cash flow of $191 million. This high-margin performance, with an AISC of $1,036 against an average realized gold price1 of $3,634 per oz sold, demonstrates the world-class quality of Fruta del Norte. Our financial strength enabled our Board to declare a substantial dividend of $0.80 per share increasing the variable component this quarter to reflect 100% of normalized free cash flow from the policy's minimum of 50%.
“As I transition to a new role in the Lundin Group, I am confident that Lundin Gold is well positioned to continue delivering strong performance under Jamie Beck's leadership, as he joins in the role of President and Chief Executive Officer on November 7th...The best is yet to come!"
