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Eldorado Gold Reports Q3 2022 Financial and Operational Results
VANCOUVER, British Columbia, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) today reports the Company’s financial and
About this update from Eldorado Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) today reports the Company’s financial and operational results for the third quarter of 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. Third Quarter 2022 Summary Operations Gold production: 118,791 ounces, a 5% increase from Q2 2022, demonstrating improvements across the portfolio. Gold sales: 118,388 ounces at an average realized gold price per ounce sold1 of $1,688. Production costs: $123.5 million. Cash operating costs1: $803 per ounce sold. Higher costs during the quarter were primarily driven by increases in the price of certain commodities and consumables, including electricity at operations in Greece and Turkiye, and fuel and reagents at Kisladag. Price increases were partly offset by the weakening of local currencies in which costs are incurred, particularly the Turkish Lira and Euro. All-in sustaining costs (\"AISC\")1: $1,259 per ounce sold, driven by higher cash operating costs per ounce sold and sustaining capital expenditures. Total capital expenditures: $74.0 million, including $32.8 million of sustaining capital1, primarily focused on underground development and construction and expansion of the tailings management facility at Lamaque. Growth capital1 of $24.2 million focused on waste stripping at Kisladag and continued construction work of the North leach pad. $11.8 million of capital expenditures spent at Skouries include expenditures related to progressing building enclosures, other construction, and execution readiness. Financial Cash, cash equivalents and term deposits: $306.4 million, as at September 30, 2022. Cash balance decreased during the quarter as a result of a $16 million bond interest payment and a $20 million investment in the G Mining Ventures Corp. equity financing. Cash flow from operating activities before changes in working capital1: $55.0 million. Earnings before interest, taxes, depreciation and amortization (\"EBITDA\")1: $42.8 million. Adjusted EBITDA1: $73.5 million. Net loss: $50.5 million, or a loss of $0.27 per share. Adjusted net loss1: $8.0 million or $0.04 loss per share. Adjusted net loss removed an $18...