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Eldorado Gold Announces Strong 2021 Preliminary Production of 475,912 oz; Announces Board and Management Appointments; and Provides Conference Call Details
VANCOUVER, British Columbia, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce fourth quarter 202
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce fourth quarter 2021 preliminary gold production of 122,644 ounces, and full year 2021 preliminary production of 475,912 ounces. Annual gold production from the Company’s four operating mines is at the upper end of the revised production guidance range of 460,000 to 480,000 ounces. Detailed production, by asset, is outlined in the table below. Q4 2021 and Year-to-Date 2021 Preliminary Gold Production Production (oz) Mine Q4 2021 Q4 2020 Q3 2021 Kisladag 33,136 56,816 51,040 Lamaque 51,354 44,168 37,369 Efemcukuru 22,631 25,828 23,305 Olympias 15,523 11,408 13,745 Total Gold Production (oz) 122,644 138,220 125,459 Production (oz) Mine Full Year 2021 Full Year 2020 2021 Guidance Kisladag 174,365 226,475 Lamaque 153,201 144,141 Efemcukuru 92,707 99,835 Olympias 55,639 58,423 Total Gold Production (oz) 475,912 528,874 460,000 – 480,0001 1 Total Gold Production guidance revised in October 2021 from original 2021 guidance of 430,000 – 460,000 Canada Strong fourth quarter gold production at Lamaque was mainly driven by higher than planned gold grades in the C4 zone. The decline connecting the Sigma mill with the Triangle underground mine was completed, on schedule and on budget, in December 2021. The decline will allow direct ore and waste transportation from the Triangle mine to the mill thereby eliminating the re-handling of ore. Turkey Kisladag performed well in the fourth quarter with gold production inline with plan. Several operational improvements, in advance of the high-pressure grinding rolls (“HPGR”) circuit commissioning in the mine, crushing circuit, and leach pad in 2021 resulted in increased throughput. Construction and wet commissioning of the HPGR was completed in December 2021. The circuit is now ramping up to production and metallurgical specifications. At Efemcukuru, gold production, throughput, and average gold grade were inline with expectations. The Company’s profits from mining operations in Turkey are taxed at the enacted rate and the resulting current income tax expense can be further increased or reduced by other items. In the fourth quarter, the Company expects the Turkish current income tax expense on mining profits, at ...