trending Market Intelligence /marketintelligence/en/news-insights/trending/jbhxo5d_qfzi2mumzcqqxw2 content esgSubNav
In This List

Eldorado's gold output down YOY, meets FY'17 target

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Eldorado's gold output down YOY, meets FY'17 target

Vancouver-based Eldorado Gold Corp. produced 292,980 ounces of gold in 2017, falling within the full-year production guidance range of between 280,000 and 310,000 ounces of gold, according to its Jan. 16 preliminary results.

The company produced 485,994 ounces of gold in 2016.

The results follow the company placing its Skouries gold development project in Greece on care and maintenance in November 2017, citing permitting delays. The company remains in an arbitration process with the Greek government, and the proceedings are expected to conclude on April 6.

Pending the results of technical reports and potential capital requirements, the company also suspended its semi-annual dividend.

Fourth-quarter production reached 84,063 ounces of gold, compared to 103,113 ounces of gold it produced in the corresponding 2016 quarter.

Total cash costs for the quarter were US$596 per ounce and annual cash costs totaled US$532, while all-in sustaining costs were approximately US$900 per ounce.

This year, the company expects to produce between 160,000 and 190,000 ounces gold from the Efemcukuru, Olympias and Lamaque mines. First-quarter production from Kisladag is forecast to fall between 40,000 and 50,000 ounces of gold.

Eldorado expects to deliver further full-year guidance at the end of the first quarter after a sufficient amount of metallurgical testwork is completed at Kisladag and a technical study is complete.