The Globe and Mail reports in its Friday, March 29, edition that Scotia Capital analyst Ovais Habib, in response to updated estimates for Lundin Gold's Fruta del Norte mine in Ecuador, moved his share target to $21 from $20. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $20.57. Mr. Habib continues to rate Lundin Gold "sector perform." Mr. Habib says in a note: "We ascribe a positive bias to this update as the reserves base increased year-over-year, largely highlighting the success of the conversion drilling program, and offsetting depletion in 2023 at a rate of 79 per cent. It is also worth noting that Lundin Gold plans to carry out its largest exploration program in the company's history with a planned 56,000 metres of drilling in 2024 using at least nine rigs at a cost of $42-million. We look forward to exploration updates throughout 2024." The Globe reported on June 27 that Mr. Habib called Lundin Gold a "top-tier operator with high margin." He reaffirmed his "sector perform" recommendation when the shares could be had for $15.47.