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Eldorado Gold Announces Second Quarter 2021 Preliminary Production Results and Conference Call Details
VANCOUVER, British Columbia, July 12, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce second quarter 202
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, July 12, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce second quarter 2021 preliminary gold production of 116,066 ounces, in-line with the Company’s 2021 annual guidance of between 430,000 and 460,000 ounces of gold. Detailed production, by asset, is outlined in the table below. Q2 2021 and Year-to-Date 2021 Preliminary Gold Production Production (oz) Mine Q2 2021 Q2 2020 Q1 2021 Kısladag 44,016 59,890 46,172 Lamaque 35,643 33,095 28,835 Efemcukuru 23,473 26,876 23,298 Olympias 12,934 17,921 13,437 Total Gold Production (oz) 116,066 137,782 111,742 Production (oz) Mine YTD 2021 YTD 2020 Full Year 2021 Guidance Kısladag 90,188 110,066 140,000 – 150,000 Lamaque 64,478 60,448 140,000 – 150,000 Efemcukuru 46,771 50,115 90,000 – 95,000 Olympias 26,371 33,103 55,000 – 65,000 Total Gold Production (oz) 227,808 253,732 430,000 – 460,000 Canada Second quarter gold production at Lamaque continued on track with both throughput and grade in-line with the plan to deliver annual guidance of 140,000 to 150,000 ounces. The decline connecting the Sigma mill with the Triangle underground mine is progressing ahead of schedule and is expected to be completed in the fourth quarter. Infill and expansion drilling continued during the quarter at the recently announced Ormaque gold resource. Turkey Kisladag performed well in the second quarter with gold production consistent with the plan to deliver 2021 guidance of 140,000 to 150,000 ounces. The two additional CIC trains that were commissioned in the first quarter have performed as planned and are now fully operational. The installation of a new carbon regeneration kiln was completed in the second quarter and is expected to support improved gold recoveries in the circuit. The commissioning of the high-pressure grinding roll (HPGR) circuit remains on track. At Efemcukuru, gold production, throughput, and average gold grade were in-line with guidance. In addition to the current income tax expense relating to profits from mining operations in Turkey for the quarter, the Company estimates an additional $14-16 million in current tax expense in the second quarter. This primarily included withholding tax and a retroactive adjustment for the previously announced tax rate increase, e...