Lion One Records 4741 oz in Quarterly Gold Sales, C$18.0M of Revenue
Rhea-AI Summary
Lion One Metals reported record quarterly gold sales and production from its Tuvatu Gold Mine in Fiji for Q4 CY2024. The company sold 4,741 oz of gold and 841 oz of silver, generating total revenue of C$17,993,020, a 72% increase from the previous quarter's C$10,470,518.
Gold production reached 4,300 oz, an 18% increase from Q3's 3,638 oz. The average sale price was C$3,787 per ounce. The mine processed 29,525 tonnes with improved gold grades of 5.49 g/t and recovery rates of 82.50%. 2024 marked Tuvatu's first year of production, with consistent quarterly improvements since Q1 plant commissioning.
The company currently operates a 300 tpd pilot plant and plans to expand to 600 tpd in 2026.
Positive
- Record quarterly revenue of C$18.0M, up 72% from previous quarter
- Gold production increased 18% to 4,300 oz quarter-over-quarter
- Improved gold grades (5.49 g/t) and recovery rates (82.50%)
- Planned production capacity expansion from 300 tpd to 600 tpd in 2026
Negative
- Plant throughput decreased from 341 tpd to 321 tpd quarter-over-quarter
News Market Reaction – LOMLF
On the day this news was published, LOMLF gained 8.40%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
North Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") is pleased to report record quarterly gold sales and gold production from the Tuvatu Gold Mine in Fiji for Q4 CY2024.
Summary of Quarterly Results:
- 4,741 oz of gold sold
- 4,300 oz of gold recovered
- 29,525 tonnes milled
- Total revenue of C
$17,993,020 72% increase in revenue compared to previous quarter
Quarterly Production Results
Lion One Metals sold approximately 4,741 oz of gold and 841 oz of silver during the three-month period ending December 31st, 2024. The average sale price for the quarter was C
Table 1. Quarterly Production and Operations Summary
| Q4 CY2024 | Q3 CY2024 | ||
| Gold sold | oz | 4,741 | 3,129 |
| Silver sold | oz | 841 | 1,093 |
| Total Revenue | C$ | 17,993,020 | 10,470,518 |
| Plant throughput | tpd | 321 | 341 |
| Gold grade | g/t | 5.49 | 4.59 |
| Gold recovery | % | 82.50 | 78.20 |
| Gold produced | oz | 4,300 | 3,638 |
2024 was the first calendar year of production at Tuvatu. The company has achieved consistent quarter-over-quarter increases in gold production, gold recoveries, and gold grades since plant commissioning was complete in Q1 CY2024 (Figure 1). The company is currently in the 300 tpd pilot plant phase of operations, with expansion to the 600 tpd phase of operations anticipated in 2026.
Lion One Chairman and CEO Walter Berukoff stated: "2024 was a pivotal year for Lion One Metals as we brought the Tuvatu mine in Fiji into production at the pilot plant level. We are delighted to have achieved consecutive increases in production every quarter throughout 2024, culminating in a record C
Figure 1. Tuvatu Average Quarterly Gold Grade and Recovery, 2024. Gold grades and recovery have consistently increased quarter-over-quarter at Tuvatu since pilot plant commissioning was complete in Q1 CY2024.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/237264_1bcd9069a4be0830_001full.jpg
Qualified Persons Statement
In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its
On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO
Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be "forward-looking statements" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237264
FAQ
What was Lion One Metals' (LOMLF) gold production in Q4 2024?
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What is the current processing capacity of LOMLF's Tuvatu mine?
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