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 announced preliminary gold production for Q1 2022 at 93,209 ounces, maintaining its full-year guidance of 460,000 to 490,000 ounces. Production was affected by COVID-19-related absenteeism and adverse weather conditions, particularly at the Kisladag mine. However, expected production recovery is anticipated in the second half of the year. The Company also expects a reduction of up to $3 million in income tax expenses in Turkey due to investment tax credits. Operations are on schedule across all sites, with ongoing developments and exploration efforts.
Eldorado Gold Corporation has filed two technical reports for its Skouries and Lamaque projects. The Skouries Technical Report, effective January 22, 2022, was prepared by certified professionals and outlines the project's feasibility. The Lamaque Technical Report, with an effective date of December 31, 2021, emphasizes significant economic potential. Both reports comply with NI 43-101 standards and are accessible on the Company’s website and SEDAR profile. Eldorado operates in multiple regions, including Turkey, Canada, Greece, and Romania, focusing on gold and base metals production.
Eldorado Gold Corporation has announced promising exploration results from its operations in Lamaque (Canada), Efemcukuru (Turkey), and Kassandra (Greece) on March 29, 2022. Key findings include high-grade gold intercepts at Ormaque and Kokarpinar South, bolstering the company's resource base. With a planned exploration budget of $44 to $48 million for over 150,000 metres of drilling in 2022, Eldorado aims to expand its resources significantly. Notable results from drilling programs indicate strong potential for extending mine life and enhancing production capabilities.
Eldorado Gold Corporation reported its fourth-quarter and full-year 2021 results, achieving strong gold production of 122,582 ounces in Q4 and 475,850 ounces in 2021, within guidance. Cash operating costs were $571 per ounce sold in Q4 and $626 for the year. However, the company faced a net loss of $43.1 million in Q4, attributed to higher taxes and impairment losses related to the closure of Stratoni. In 2022, production is expected to be lower in H1 due to operational challenges. Financially, Eldorado held $481.3 million in cash, while adjusted net earnings were $119.3 million for 2021.
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.
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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.