Eldorado Gold Stock Price, News & Analysis

Eldorado Gold Corporation has released a new Technical Study on its Lamaque Project in Quebec, emphasizing significant growth potential. Key highlights include:

• NPV of $459 million for Upper Triangle Reserves at $1,500 gold/oz.
• Lower Triangle Inferred Resource NPV of $162 million with an IRR of 33%.
• Potential increase to production over 190,000 ounces/year from Upper Triangle.
• Extended mine life with potential for 8.5 years from Lower Triangle and Ormaque.

Overall, the study reflects a robust economic outlook for the project.

Eldorado Gold Corporation released its 2022 production and cost guidance, forecasting gold production between 460,000 to 490,000 ounces, a 7% increase from previous guidance. Key drivers include enhanced mining and recovery rates. The average cash operating cost is projected between $640 to $690 per ounce, with all-in sustaining costs between $1,075 to $1,175 per ounce. The five-year production outlook shows an average increase of 4% per year. Eldorado aims to balance operations amidst COVID-19 and inflationary pressures, planning key investments in mine development.

Eldorado Gold Corporation reported fourth quarter 2021 preliminary gold production of 122,644 ounces, bringing the full year total to 475,912 ounces, aligning with the upper range of revised guidance (460,000 to 480,000 ounces). Notable production increases were observed at the Lamaque mine, while Kisladag benefitted from operational enhancements ahead of new processing technologies. However, the company anticipates an increased current income tax expense of $13-16 million in Turkey due to currency fluctuations. This report precedes the upcoming financial results call on February 25, 2022.

Eldorado Gold Corporation has announced that the Toronto Stock Exchange has accepted its Notice for a normal course issuer bid (NCIB). This allows Eldorado to purchase up to 1,421,373 of its common shares, representing approximately 0.8% of the total shares outstanding as of December 17, 2021. The buyback will commence on December 30, 2021, and will continue until December 29, 2022. Eldorado believes this repurchase strategy is an effective use of funds and will help meet future obligations under its employee restricted share unit plan.

Eldorado Gold Corporation released its updated Mineral Reserve and Resource estimates as of September 30, 2021. Proven and Probable gold Reserves totaled 15.3 million ounces, a 14% decrease from the previous year, influenced by the divestiture of Tocantinzinho. Inferred Resources rose to 14.0 million ounces, marking a 3% increase. Key contributors to resource changes included increases at Efemcukuru and Lamaque, while Kisladag and Olympias saw declines. Overall, Measured and Indicated Resources decreased by 9% to 23.5 million ounces post-divestiture.

Eldorado Gold Corporation has announced the completion of its Feasibility Study (FS) for the Skouries project in northern Greece. The study reveals 19% after-tax Internal Rate of Return (IRR) and $1.3 billion after-tax Net Present Value (NPV) based on $1,500/oz gold and $3.85/lb copper prices. The project anticipates producing 2.9 million ounces of gold over a 20-year mine life, with initial capital costs estimated at $845 million. The study aims to secure financing for the project's re-start in mid-2022.

Eldorado Gold Corporation has successfully completed the Triangle-Sigma decline project at Lamaque and the HPGR circuit at Kisladag. The Triangle-Sigma decline, connecting the Triangle mine and Sigma mill, was finished on time and budget, costing approximately $24 million. It aims to reduce costs and GHG emissions. The Kisladag HPGR circuit is expected to increase gold recovery by about 4% and was completed within a $35 million budget. A feasibility study for the Skouries project will be released on December 15, 2021, followed by a conference call.

Eldorado Gold Corporation reports Q3 2021 financial results, highlighting gold production of 125,459 ounces, an 8% decrease from Q3 2020. However, production increased 8% over Q2 2021, prompting the company to boost its annual guidance by 6% to 460,000-480,000 ounces. Free cash flow was $29.7 million, down from $114.7 million a year prior, attributed to lower production and gold prices. Net earnings fell to $8.5 million, or $0.05 per share, reflecting higher finance costs from debt refinancing. Capital spending reached $64.4 million, with ongoing investments at Kisladag and Lamaque.