Eldorado Gold Announces Stronger Second Quarter 2020 Preliminary Production Results and Conference Call Details

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10/07/2020 05:57
VANCOUVER, British Columbia, July 09, 2020 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce the Company’s Q2 2020 preliminary production of 137,782 ounces of gold, a 50% increase over Q2 2019. Further detail on asset level production is shown in Table 1 below.

Gold production at Kisladag increased by 130% over Q2 2019, and 19% over Q1 2020. Increased production in Q2 2020 was due to higher grade and tonnes of stacked ore and increased solution grades due to drier weather in June. Gold bearing solution levels remain high and are expected to decrease over the summer months, which will allow for processing of the gold currently in solution.

Production at Olympias increased by 159% over Q2 2019 and 18% over Q1 2020. This reflects the work completed at Olympias over the past year to increase underground development and backfilling, which has resulted in increased tonnes processed.

Production at Efemcukuru for Q2 2020 was slightly higher than Q1 2020 due to higher grades processed during the quarter.

Operations at Lamaque resumed on April 15, 2020 following a three-week mandated shutdown by the government of Quebec to address the COVID-19 pandemic. Production was higher in Q2 2020 compared to Q1 2020 due to higher grades and an increase in tonnes mined per day enabled by the recently received Certificate of Authorization from the Quebec Ministry of Environment.

Table 1: Q2 and Year to Date 2020 Preliminary Production
Production (oz) Q1 2020 Q2 2020 Q2 2019 Q2 %Change
Kisladag 50,176 59,890 26,072 130 %
Efemcukuru 23,239 26,876 25,667 5 %
Olympias 15,182 17,921 6,924 159 %
Lamaque 27,353 33,095 33,140 0 %
Total 115,950 137,782 91,803 50 %

Production (oz) YTD 2020 YTD 2019 YTD %Change
Kisladag 110,066 53,319 106 %
Efemcukuru 50,115 51,791 -3 %
Olympias 33,103 16,852 96 %
Lamaque 60,448 52,818 14 %
Total 253,732 174,780 45 %

Q2 2020 Financial and Operational Results Call Details

Eldorado Gold will release its Q2 2020 Financial and Operational Results after market closes on Thursday, July 30, 2020 and will host a conference call on Friday, July 31, 2020 at 11:30am ET (8:30am PT). The call will be webcast and can be accessed at Eldorado Gold’s website: www.eldoradogold.com, or via: http://services.choruscall.ca/links/eldoradogold20200731.html


Conference Call Details
Replay (available until September 4 , 2020)


Date: July 31, 2020 Vancouver: +1 604 638 9010
Time: 11:30 am ET (8:30 am PT) Toll Free: 1 800 319 6413
Dial in: +1 604 638 5340 Access code: 4874
Toll free: 1 800 319 4610


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https://www.eldoradogold.com/news-and-media/news-releases/press-release-details/2020/Eldorado-Gold-Announces-Stronger-Second-Quarter-2020-Preliminary-Production-Results-and-Conference-Call-Details/default.aspx



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