Welcome to our dedicated page for Eldorado Gold news (Ticker: EGO), a resource for investors and traders seeking the latest updates and insights on Eldorado Gold stock.
Eldorado Gold Corporation (NYSE: EGO, TSX: ELD) is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The EGO news page on Stock Titan aggregates company announcements and disclosures so readers can follow how Eldorado’s operations, projects and corporate actions evolve over time.
News from Eldorado Gold frequently covers operational and financial results, including quarterly production and sales figures, cost metrics, capital spending and updates on guidance. These releases often highlight performance at key operations such as the Lamaque Complex, Kisladag, Efemcukuru and Olympias, as well as commentary from management on portfolio performance and capital allocation.
Another major news theme is project development, particularly at the Skouries copper-gold project in Greece. Eldorado regularly reports on construction progress, capital estimates, schedules, commissioning milestones and workforce developments at Skouries, along with technical details on infrastructure such as the filtered tailings plant, primary crusher, process plant and underground development.
Investors can also expect updates on mineral reserves and resources, where Eldorado publishes changes to its Mineral Reserve and Mineral Resource (MRMR) estimates across operations and projects. These releases describe how drilling, resource conversion and mine planning affect reserve and resource totals and mine life at assets including the Lamaque Complex, Kisladag, Olympias, Perama Hill and Skouries.
Additional news items include capital markets and corporate developments, such as the renewal and use of the company’s normal course issuer bid, share repurchases, recognition in rankings like the TSX30, board and executive appointments, and investments in other companies. For investors tracking EGO, regularly reviewing this news feed provides insight into Eldorado’s operating performance, growth projects and governance decisions.
Eldorado Gold Corporation has released its updated Mineral Reserve and Resource estimates as of September 30, 2022. The total Proven and Probable gold Reserves now stand at 12.3 million ounces, a 4% decrease from 2021, mainly due to the divestment of the Certej asset. Excluding depletion effects, Reserves remain stable. Measured and Indicated Resources are 19.2 million ounces, reflecting a 2% decline. The operational focus remains on core assets in Turkiye, Canada, and Greece, while the Certej project sale is expected to finalize in Q1 2023.
Eldorado Gold Corporation announced its Q3 2022 results, reporting gold production of 118,791 ounces, a 5% increase from Q2 2022. Revenue was $217.7 million, down 9% year-over-year, attributed to lower sales volumes and a 5% decrease in average gold price to $1,688 per ounce. Production costs rose to $123.5 million, leading to a cash operating cost of $803 per ounce. The company faced a net loss of $50.5 million and negative free cash flow of $25.9 million. Despite challenges, operational performance remained on track with annual guidance.
Eldorado Gold Corporation reported third quarter 2022 preliminary gold production of 118,790 ounces and year-to-date production of 325,461 ounces. The company remains aligned with its full-year guidance of 460,000 ounces. Key contributors included Kisladag and Lamaque, with Kisladag experiencing a 27% increase in production compared to Q2. However, production at Lamaque was slightly below expectations.
Tax expenses in Turkiye are anticipated to rise by $2 million due to currency fluctuations.
Eldorado Gold Corporation has reported progress in its 2022 exploration efforts at Lamaque, Efemcukuru, and Olympias, completing over 85,000 metres of drilling and on track for a total of 140,000 metres. Significant findings include high-grade gold intercepts at Ormaque in Quebec, along with promising results from the West Vein system at Efemcukuru in Turkiye and the North Zone extension at Olympias in Greece. The company anticipates incorporating these findings into its year-end resource update.
Eldorado Gold Corporation has signed a mandate letter with Greek banks for a €680 million project finance facility aimed at developing the Skouries Project in Northern Greece. This marks a significant step towards restarting construction at Skouries, which is projected to produce an average of 140,000 ounces of gold and 67 million pounds of copper annually over its 20-year lifespan. The project's feasibility study estimates a capital cost of USD 845 million with expected free cash flow of USD 215 million per year during the first five years of operation, pending board approval for construction restart.
Eldorado Gold Corporation reported its Q2 2022 financial results, showing a net loss of $22.7 million ($0.12 per share), compared to a net profit of $31.0 million in Q2 2021. Gold production increased by 22% to 113,462 ounces, with sales at 107,631 ounces at an average price of $1,849 per ounce. Cash operating costs rose to $789 per ounce, up from $645 in Q2 2021. Revenue decreased 8% to $213.4 million, influenced by lower sales volumes despite higher metal prices. The company's 2022 outlook remains cautious, expecting annual production of 460,000 to 490,000 ounces.
Eldorado Gold Corporation announced preliminary gold production for Q2 2022 totaling 113,462 ounces, maintaining its full-year production guidance of 460,000 to 490,000 ounces. Key contributors to production included Kisladag with 27,973 ounces, Lamaque at 46,917 ounces, and Efemcukuru with 22,793 ounces. The company reports optimization efforts are yielding positive results, particularly with increased throughput and grades. However, gold production at Kisladag fell short of expectations due to lower leach pad tonnage, though improvements are anticipated in the third quarter.
Eldorado Gold Corporation announced that all director nominees from the Management Proxy Circular dated April 25, 2022, were elected at the Annual Meeting of Shareholders on June 9, 2022. Steven Reid, Chair of the Board, expressed gratitude to shareholders for their support and highlighted the contributions of outgoing director George Albino, who did not seek re-election. Stephen Walker, with over 35 years of experience in capital markets, has been welcomed to the Board. Shareholders also approved the appointment of auditors and executive compensation resolution with significant support.
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Eldorado Gold Corporation reported its Q1 2022 financial and operational results, highlighting a total gold production of 93,209 ounces and sales of 94,472 ounces at an average price of $1,889 per ounce. Major challenges included COVID-related absenteeism, severe weather, and power outages, impacting production. The company recorded a net loss of $316.8 million, primarily due to a $365.4 million impairment of the Certej project. Adjusted net loss stood at $19 million. Despite these setbacks, Eldorado maintains its guidance of 460,000 to 490,000 ounces for 2022.