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Eldorado Gold Provides Update on Tax Impacts in Turkiye Related to the Weakening Lira; and Provides Conference Call Details
VANCOUVER, British Columbia, July 07, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or the “Company”) today provides the following updates on t
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, July 07, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or the “Company”) today provides the following updates on the tax impacts in Turkiye related to the weakening of the Turkish Lira. Tax Impacts in Turkiye Related to the Weakening Turkish Lira The Company’s profits from mining operations in Turkiye are taxed at an enacted rate of 20% and the resulting current income tax expense may be increased or reduced by other items. In the second quarter, the Company expects the Turkish current income tax expense on mining profits to be higher by $5.5 to $6.5 million. This increase is expected to be primarily related to the weakening of the Lira in the quarter and the resulting generation of taxable unrealized foreign exchange gains, partly offset by reductions related to the investment tax credit relating to Kisladag and Efemcukuru. Q2 2023 Financial and Operational Results Call Details Eldorado will release its 2023 Second Quarter Financial and Operational Results after the market closes on Thursday, July 27, 2023, and will host a conference call on Friday, July 28, 2023, at 11:30 AM ET (8:30 AM PT). Conference Call Details Replay (available until September 1, 2023) Date: July 28, 2023 Vancouver: +1 604 638 9010 Time: 11:30 AM ET (8:30 AM PT) Toll Free: 1 800 319 6413 Dial in: +1 604 638 5340 Access code: 0279 Toll free: 1 800 319 4610 The call will be webcast and can be accessed at Eldorado Gold’s website: www.eldoradogold.com, or via: https://services.choruscall.ca/links/eldoradogold2023q2.html About Eldorado Gold Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO). ContactInvestor RelationsLynette Gould, VP, Investor Relations647.271.2827 or [email protected] Cautionary Note about Forward-looking Statements and Information Certain of the statements made and information provided in this press release are forward-looking statements or information wi...