Eldorado Gold Stock Price, News & Analysis

Eldorado Gold Corporation has announced the execution of a $250 million revolving senior secured credit facility, with an option to increase credit by $100 million. This agreement replaces the previous $450 million credit facility and offers better financial flexibility for the development of Kassandra assets in Greece. The interest rate on the new facility ranges from LIBOR + 2.125% to 3.25%. The company continues to strengthen its balance sheet and improve its financial position as it enhances funding alternatives for its projects.

Eldorado Gold Corporation announced a preliminary gold production of 125,459 ounces for Q3 2021, marking an 8% increase from 116,066 ounces in Q2 2021. The company plans to review its 2021 production guidance, with further updates expected on October 28, 2021. Key mines contributed to the production: Kısladag (51,040 oz), Lamaque (37,369 oz), Efemcukuru (23,305 oz), and Olympias (13,745 oz). Turkey's effective tax rate is anticipated to reduce the current income tax expense by $8-11 million due to investment credits.

Eldorado Gold Corporation has announced significant exploration updates from its Lamaque and Efemcukuru operations. Notable results include:

• Infill drilling at Ormaque confirming grade continuity, with intercepts such as 2.2 metres at 21.3 g/t gold and major new mineralized zones.
• At Bonnefond, results include 50.2 metres at 6.0 g/t gold.
• At Efemcukuru, Kokarpinar drilling yielded intercepts including 1.6 metres at 18.3 g/t gold.

These findings underscore strong growth potential in Eldorado's resource base and ongoing exploration success.

Eldorado Gold Corporation has successfully completed a US$500 million offering of 6.250% senior notes due 2029. The proceeds will be utilized to redeem US$234 million in outstanding 9.500% notes due in 2024, repay existing loans, and cover related expenses. This move enhances the company’s financial flexibility and reduces its debt costs, allowing for expanded funding opportunities for the Kassandra assets in Greece. The notes have been sold to qualified institutional buyers and comply with U.S. securities regulations.

Eldorado Gold Corporation has successfully priced an offering of US$500 million in senior notes with a 6.250% interest rate, maturing in 2029. The funds will be used to redeem US$234 million of higher-interest notes due in June 2024, repay existing loans, and cover related expenses. The offering is set for settlement around August 26, 2021, and is geared towards qualified institutional buyers as per regulatory exemptions. Eldorado operates mines across multiple countries, including Turkey and Canada, and its shares trade on the TSX and NYSE under the symbol EGO.

Eldorado Gold Corporation announced plans to offer up to $500 million in senior notes due in 2029. The funds will be used to redeem existing $234 million senior secured notes due June 2024, repay term and revolving credit facilities, and cover associated fees. The offering is subject to market conditions and will be conducted under Rule 144A and Regulation S of the Securities Act.

Eldorado Gold operates in Turkey, Canada, Greece, Romania, and Brazil and trades on the TSX and NYSE under the symbol EGO.

Eldorado Gold Corporation has entered a definitive agreement to divest its Tocantinzinho Project in Brazil to G Mining Ventures Corp., with a total expected value of up to US$110 million. Eldorado will initially receive a minimum of US$50 million, including US$20 million in cash and a 19.9% equity stake in GMIN upon closing. An additional US$60 million is contingent on the project achieving commercial production. The transaction is expected to close in Q4 2021, subject to regulatory approvals. Eldorado retains rights related to its equity stake in GMIN.

Eldorado Gold Corporation reported its Q2 2021 financial results, showing gold production of 116,066 ounces, down 16% from Q2 2020. Despite a 4% increase from Q1 2021, the company maintained its annual production guidance of 430,000-460,000 ounces. The all-in sustaining cost rose to $1,074 per ounce, and a net loss of $55.7 million was reported, compared to a profit of $49.1 million in the same quarter a year prior. Adjusted net earnings were $29.3 million. Free cash flow was negative by $36.6 million, attributed to higher capital spending.

Eldorado Gold Corporation announced the acquisition of 15,041,746 common shares of Probe Metals Inc. at $1.575 per share, totaling approximately $23.69 million. This purchase gives Eldorado a 11.5% ownership stake in Probe, acquired through a private transaction. The company intends to hold these securities for investment purposes and may adjust its ownership based on market conditions. The acquisition aligns with Eldorado's strategic growth objectives in the mining sector, particularly in gold and base metals.