Eldorado Gold Announces First Quarter 2021 Preliminary Production Results and Conference Call Details
VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce first quarter 2021 preliminary gold
production of 111,742 ounces, in-line with the Company’s 2021 annual guidance of between 430,000 and 460,000 ounces of gold. Individual mine gold production is shown in the table below.
Q1 2021 Preliminary Gold Production
|Gold Production (oz)||Q1 2021||Full Year 2021 Guidance|
|Kisladag||46,172||140,000 - 150,000|
|Lamaque||28,835||140,000 - 150,000|
|Efemcukuru||23,298||90,000 - 95,000|
|Olympias||13,437||55,000 - 65,000|
|Total||111,742||430,000 - 460,000|
First quarter 2021 gold production at Lamaque is on track, with both throughput and grade in-line with the plan to deliver annual guidance. The decline connecting the Sigma mill with the Triangle underground mine is progressing on schedule for year-end completion. In-fill and expansion drilling continued at the recently announced Ormaque maiden gold resource. On April 7, 2021, Eldorado announced the closing of the acquisition of QMX, which has increased the Company’s overall land position around Lamaque by 550%.
Strong first quarter production at Kisladag was consistent with 2021 guidance. The mine is expected to benefit from higher solution processing rates resulting from the successful installation of two additional CIC trains in the first quarter. At Efemcukuru, gold production, throughput and average gold grade were also in-line with guidance.
First quarter gold production at Olympias was consistent with the plan to deliver 2021 guidance. The Company continues to target efficiency and productivity improvements at Olympias to enhance the mine’s long-term production and cost profile. On March 23, 2021 the amended Investment Agreement (the “Agreement”) was published in the Greek Government Gazette, officially becoming law of the Hellenic Republic. The Agreement underscores Eldorado’s commitment to long-term responsible investment in Greece for the mutual benefit of all stakeholders.