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Eldorado Gold Announces Fourth Quarter and Full Year 2022 Preliminary Production; Provides Conference Call Details
VANCOUVER, British Columbia, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces fourth quarter 2022 preliminary
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces fourth quarter 2022 preliminary gold production of 128,453 ounces, and full year preliminary gold production of 453,916 ounces. During the year, consolidated production continued to increase sequentially, quarter over quarter. Fourth quarter production was strong across all assets, in line with the Company’s expectation of a stronger second half of 2022. Full year preliminary production was just below the bottom end of the guidance range. Detailed production, by asset, is outlined in the table below. Q4 2022 Preliminary Gold Production Production (oz) Mine Q4 2022 Q3 2022 Q2 2022 Q1 2022 Kisladag 40,307 37,741 27,973 29,779 Lamaque 51,349 42,454 46,917 33,377 Efemcukuru 21,362 22,473 22,793 21,057 Olympias 15,435 16,123 15,779 8,996 Total Gold Production (oz) 128,453 118,791 113,462 93,209 Production (oz) Mine Full Year 2022 Full Year 2021 Kisladag 135,801 174,365 Lamaque 174,097 153,201 Efemcukuru 87,685 92,758 Olympias 56,333 55,577 Total Gold Production (oz) 453,916 475,850 Canada At Lamaque, fourth quarter production increased 20% over the third quarter, mainly driven by higher grade and increasing throughput performance at the mill. The mine delivered record annual production, a 14% increase over 2021. Turkiye Fourth quarter gold production at Kisladag increased 7% over the third quarter and had steady, improvement through 2022. The higher in gold production quarter-over-quarter was driven by an increase in tonnes placed on the pad during the third quarter. In the fourth quarter, eight larger, higher-capacity conveyors were installed, which has improved material handling capacity and on-belt agglomeration. Despite an approximate 35% increase in production in the second half, compared to the first half of 2022, full year production results were lower than planned, mainly attributable to lower tonnes stacked as a result of weather and COVID-absenteeism challenges in early 2022, and ongoing agglomeration optimization that continues to progress well. At Efemcukuru, gold production, throughput and average gold grade were in line with plan for the quarter and for the full year. The Company’s profits from mining operations in Turkiye are taxed at the enacted rate and the resulting c...