MINING REFINING

Eldorado produces 120,042 oz of gold in Q3, says on track to achieve 2023 guidance

Mon Oct 02 2023

Eldorado Gold (TSX: ELD) (NYSE: EGO) yesterday announced Q3 2023 preliminary gold production of 120,042 ounces (Q3 2022: 118,791 ounces) and year-to-date preliminary production of 340,986 ounces (9M 2022: 325,462 ounces).

In a press release, Eldorado Gold said that the company remains on track to achieve its consolidated full-year 2023 guidance of 475,000 – 515,000 ounces, with operations delivering as expected.

The company also reported that with full construction activities having commenced at the Skouries project (Greece) in Q2 2023, Eldorado remains on budget and on track for first gold production in mid-2025 with commercial production expected at the end of 2025.

Skouries is located within the Halkidiki Peninsula of Northern Greece. It is a gold-copper porphyry deposit to be mined using a combination of conventional open pit and underground mining techniques.

Based on the feasibility study, Skouries is expected to produce, on average, 140,000 ounces of gold and 67 million pounds of copper annually over its initial 20-year mine life.

Eldorado Gold is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece.

Source: https://www.kitco.com