Lundin Gold CEO, Ron Hochstein, stated that the company is open to acquiring assets outside of Ecuador and at the development stage. Hochstein made this comment during an interview at the Gold Forum Americas 2023 event. Lundin Gold, which opened Ecuador’s Fruta del Norte mine in 2019, is expecting to produce between 450,000 – 485,000 ounces of gold in 2023. Despite being a single-asset company, Lundin Gold is also considering acquisitions and views development-stage assets as potential buying scenarios. The company is actively growing operations and plans to expand Fruta del Norte’s throughput.
Hochstein emphasized that Lundin Gold is actively exploring opportunities for mergers and acquisitions, referring to M&A activity as a “head on a swivel.” The company’s main focus is on development-stage assets but is also open to feasibility-stage assets that can be quickly brought to construction. By expanding its operations and extending Fruta del Norte’s mine life, Lundin Gold aims to increase its throughput and explore the potential for further resources in the region. The CEO’s remarks at the Gold Forum Americas 2023 demonstrate the company’s strategy and openness to acquiring additional assets.
Lundin Gold’s acquisition strategy aligns with its goal of expanding and diversifying its portfolio beyond the Fruta del Norte mine in Ecuador. By targeting assets outside of Ecuador and at the development stage, the company aims to leverage its expertise and accelerate the progress of these assets towards production. While Lundin Gold maintains its focus on growing its current operations, it also seeks to strategically expand its portfolio through acquisitions. The company’s active participation in M&A activities reflects its forward-thinking approach to maximizing shareholder value and positioning itself for long-term success in the gold mining sector.