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Eldorado Gold Announces Third Quarter 2021 Preliminary Production Results and Conference Call Details
VANCOUVER, British Columbia, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce third quarter 2021
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce third quarter 2021 preliminary gold production of 125,459 ounces, an 8% increase from 116,066 ounces produced in the second quarter 2021. Based on strong production performance in the first nine months of 2021, the Company is reviewing the full year 2021 production guidance ranges and will provide an update with the release of its financial and operational results on October 28, 2021. Detailed production, by asset, is outlined in the table below. Q3 2021 and Year-to-Date 2021 Preliminary Gold Production Production (oz) Mine Q3 2021 Q3 2020 Q2 2021 Kısladag 51,040 59,593 44,016 Lamaque 37,369 39,525 35,643 Efemcukuru 23,305 23,892 23,473 Olympias 13,745 13,912 12,934 Total Gold Production (oz) 125,459 136,922 116,066 Production (oz) Mine YTD 2021 YTD 2020 Kısladag 141,229 169,659 Lamaque 101,847 99,973 Efemcukuru 70,076 74,007 Olympias 40,116 47,015 Total Gold Production (oz) 353,268 390,654 Canada Third quarter gold production at Lamaque remained on track with both throughput and grade in-line with 2021 plans. The decline connecting the Sigma mill with the Triangle underground mine is progressing on schedule and is expected to be completed in the fourth quarter. Infill and expansion drilling at Ormaque continued during the third quarter. Refer to the September 27, 2021 news release that summarizes recent infill drilling results at Ormaque, titled “Eldorado Gold Identifies New Mineralized Lenses at Ormaque; Multiple Styles of High-Grade Mineralization at Bonnefond; Kokarpinar Vein Extension Drilled at Efemcukuru”. Turkey Kisladag performed well in the third quarter with gold production higher than previously forecast. Several operational improvements implemented in the mine, crushing circuit, and leach pad earlier this year are resulting in increased throughput. 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 expectations. The Company’s profits from mining operations in Turkey are taxed at the effective rate and the resulting current income tax expense can be further increased or...