Lundin Gold aims to strike again

Article Excerpt

LUNDIN GOLD $10.24 (Toronto symbol LUG; TSINetwork Rating: Spec.) (www.lundingold.com; Shares outstanding: 224.4 million; Market cap: $2.3 billion; No dividends paid) will now go ahead with expansion plans for its Fruta del Norte gold mine in Ecuador. The $18.6 million expansion will increase output by around 20%. That will boost forecast 2021 gold production to between 380,000 and 420,000 ounces. Meanwhile, Lundin has received an exploration permit for its Barbasco drilling target. It’s now planning a 6,000-metre drill program for the site, located seven kilometres south of Fruta del Norte. Properties near existing mines on the same geological formations can host significant deposits, or may contain little or no mineable minerals. So, while Barbarosa’s success is far from guaranteed, the project is encouraging. Lundin Gold is a buy. buy…