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Eldorado Gold Reports 2022 Year-End and Fourth Quarter Financial and Operational Results
VANCOUVER, British Columbia, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation, (“Eldorado” or “the Company”) today reports the Company’s financial an
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation, (“Eldorado” or “the Company”) today reports the Company’s financial and operational results for the fourth quarter and year ended December 31, 2022. For further information please see the Company’s Consolidated Financial Statements and Management’s Discussion and Analysis (\"MD&A\") filed on SEDAR at www.sedar.com under the Company’s profile. Q4 2022 and Full-Year Summary Operations Gold production: 128,453 ounces in Q4 2022 demonstrating sequential improvements across the portfolio. Full year production of 453,916 ounces in 2022, was 1% below the low end of guidance. Gold sales: 132,462 ounces in Q4 2022 at an average realized gold price per ounce sold(1) of $1,754, and 452,953 ounces in 2022 at an average realized gold price per ounce sold(1) of $1,787. Production costs: $122.2 million in Q4 2022, and $459.6 million in 2022. Cash operating costs(1): $741 per ounce sold in Q4 2022. Full year cash operating costs of $788 per ounce sold in 2022, 5% above the guidance range, driven by price increases for commodities and consumables, including electricity in Turkiye and Greece, and fuel and reagents at Kisladag. All-in sustaining costs(1) (\"AISC\"): $1,246 per ounce sold in Q4 2022, and $1,276 per ounce sold in 2022, meeting guidance for the year, driven mainly by the Company's disciplined deployment of sustaining capital. Total capital expenditures: $80.7 million in Q4 2022, and $289.9 million in 2022. Growth capital(1) of $100.0 million in 2022 was primarily focused at Kisladag. Financial Cash, cash equivalents and term deposits: $314.7 million, as at December 31, 2022 Cash flow from operating activities, before changes in working capital(1): $85.2 million in Q4 2022, and $239.5 million in 2022. Free cash flow(1): $10.7 million in Q4 2022, and negative $104.5 million in 2022 due to lower sales volumes and significant investment in growth capital. Earning before interest, taxes, depreciation and amortization (\"EBITDA\")(1): $87.5 million in Q4 2022; and $289.1 million in 2022. Adjusted EBITDA(1): $97.1 million in Q4 2022, and $321.5 million in 2022. Adjusted net earnings (loss)(1): $25.8 million or $0.14 per share in Q4 2022, and $10.1 million or $0.05 per share in 2022. Net earnings in Q4 2022 were driven by higher product...