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Eldorado Gold Announces Third Quarter 2020 Preliminary Production Results and Conference Call Details
VANCOUVER, British Columbia, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce Q3 2020 preliminar
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce Q3 2020 preliminary production of 136,672 ounces of gold, a 35% increase over Q3 2019. Further detail on asset level production is shown in the table below. Q3 and Year-to-Date 2020 Preliminary Production Q3 Preliminary Production Production (oz) Q1 2020 Q2 2020 Q3 2020 Q3 2019 Q3 %Change Kisladag 50,176 59,890 59,593 35,885 66 % Lamaque 27,353 33,095 39,525 32,037 23 % Efemcukuru 23,239 26,876 23,642 25,733 -8 % Olympias 15,182 17,921 13,912 7,941 75 % Total 115,950 137,782 136,672 101,596 35 % Year-to-Date Preliminary Production Production (oz) YTD 2020 YTD 2019 YTD %Change Kisladag 169,659 89,204 90 % Lamaque 99,973 84,855 18 % Efemcukuru 73,757 77,524 -5 % Olympias 47,015 24,793 90 % Total 390,404 276,376 41 % Gold production at Kisladag increased 66% over Q3 2019 and was consistent with Q2 2020. Gold recoveries continue to be as expected and solution grades increased over the summer due to drier weather. Production for 2020 remains slightly below expectations as solution inventories remain higher than normal. We expect to see continued benefit from drawing the solution inventory down through the balance of 2020 and into 2021. Budgeted improvements are being made in the solution processing plant to further increase capacity and are expected to start coming online in Q1 2021. Lamaque had record gold production in Q3 2020. Production was higher compared to Q3 2019 and Q2 2020 due to an increase in tonnes mined per day that was enabled by the revised Certificate of Authorization from the Quebec Ministry of Environment. Additionally, for the month of September, underground development moved into higher grade ore at the top of the C4 zone which had a positive impact on ounces produced. Gold production at Efemcukuru for Q3 2020 was slightly lower than Q3 2019 and Q2 2020 due to lower grades processed during the quarter compared to comparative quarters. Gold production at Olympias increased 75% over Q3 2019 as a result of investments in mine development, equipment, resources, and backfilling capacity that have improved productivity over the last year. Gold production ...