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Eldorado Gold boosts Q3'19 output as Lamaque ramps up

Eldorado Gold Corp.'s total gold production for the third quarter rose to 101,596 ounces from 84,783 ounces in the same period a year ago, according to preliminary figures released Oct. 16.

Results also improved from the second quarter, when it produced 91,803 ounces.

Output from Eldorado's Lamaque gold mine in Quebec more than doubled year over year to 32,037 ounces. The company reported commercial production at the mine at the end of March.

However, this was partially offset by lower-than-planned production at the Olympias gold mine in Greece, which fell to 7,941 ounces, from 12,790 ounces in 2018.

Eldorado's maintained 2019 gold production guidance at 390,000 to 420,000 ounces.

The company recently received electromechanical installation permits for its Skouries gold project and an installation permit for Olympias from the Greek Ministry of Energy and Environment.