Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Q1 2025 Earnings Presentation
18 slides from Eldorado Gold's earnings presentation, May 2, 2025
Slide 1: Q1 2025 Results Conference Call
Q1 2025 RESULTS CONFERENCE CALL May 2, 2025 CAT 777 Fleet at Skouries
Slide 2: Forward Looking Statement
Forward Looking Statement Definitions and Photos Capitalized terms used in this presentation but not otherwise defined herein have the meanings ascribed thereto in the Management’s Discussion and Analysis dated May 1, 2025 of Eldorado Gold Corporation for the three months ended March 31, 2025 (the “
Slide 3: Non-IFRS Measures
Non-IFRS Measures Certain non-IFRS financial measures and ratios are included in this presentation, including total cash costs ($/oz sold), all-in sustaining costs ("AISC") ($/oz sold), adjusted net earnings, adjusted net earnings per share, adjusted EBITDA, cash flow from operating activities befor
Slide 4: Participants and Agenda
Participants and Agenda George Burns FIRST QUARTER 2025 OVERVIEW President & CEO Paul Ferneyhough FINANCIALS EVP & CFO Louw Smith OPERATIONS & PROJECTS: SKOURIES & EVP, Development, OLYMPIAS Greece Simon Hille EVP, Operations and OPERATIONS: LAMAQUE COMPLEX, Technical Services KIŞLADAĞ & EFEMÇUKURU
Slide 5: Operations Update
Operations Update Solid operational performance during Q1 2025: maintaining full year guidance Q1 2025 2025 Guidance Total Cash Total Cash Asset Production (oz) AISC(1) ($/oz) Production (K oz) AISC(1) ($/oz) Costs(1) ($/oz) Costs(1) ($/oz) Lamaque Complex 40,438 836 1,392 170 – 180 790 – 890 1,290
Slide 6: Q1 2025 Highlights
Q1 2025 Highlights Strong Focus on Health, Safety & Sustainability HEALTH & SAFETY • LTIFR of 0.7 in Q1 2025, decreased from 1.63 in Q1 2024 Focus on preventing high potential incidents and further empowerment of our employees to promote a positive health and safety culture • Inaugural awards for He
Slide 7: Financial Results: Q1 2025
Financial Results: Q1 2025 ($millions unless otherwise noted) Q1 2025 Q1 2024 Gold Production Key Metrics 180 1,200 Gold produced (oz) 115,893 117,111 160 1,100 140 1,000 Gold sold (oz) 116,263 116,008 120 900 Revenue Au koz 355.2 258.0 100 $/oz 800 Average realized gold price ($/oz sold)(1) 2,933 2
Slide 8: Strong Financial Position
Strong Financial Position Focus on maintaining solid financial position which provides flexibility to unlock value across our business Liquidity Position(1,2) (as of March 31, 2025) TOTAL LIQUIDITY: $1.2 billion Cash and cash equivalents + availability on senior secured credit facility 241 CASH & CA
Slide 9: Skouries: Recent Achievements
Skouries: Recent Achievements Skouries progressing to plan: First production expected in Q1 2026 and commercial production in mid-2026 Q1 2025 HIGHLIGHTS • Phase 2: 66% complete Mobilization of site personnel continues to ramp up: ~1,375 personnel on site. Detailed engineering and procurement: subst
Slide 10: Skouries: Positioned to Deliver
Skouries: Positioned to Deliver Construction project capital invested since restart of construction to March 31, 2025: $588.7 million 2025: $400 to $450 million capital expected, in addition to $80 to $100 million in accelerated operational capital Q1 2025 HIGHLIGHTS (CONT’D) • Q1 2025 project capit
Slide 11: Skouries: Thickeners
Skouries: Thickeners Water testing of the clarifier commenced Thickener #1 Thickener #2 Clarifier Thickener #3 Water storage tank Tailings thickener circuit - water testing commenced in clarifier. Thickeners – concrete works complete on first, progressing on two, and construction on third thickener
Slide 12: Skouries: Filtered Tailings Building
Skouries: Filtered Tailings Building Filtered tailings building: Piling & concrete complete, transition to installation of structural steel and major mechanical equipment – advancing as planned Filtered tailings plant facility overview To view a time lapse of the installation, please visit: Filtered
Slide 13: Skouries: Crusher Building
Skouries: Crusher Building Primary Crusher: Concrete foundation complete; work advancing on first level walls, with ~60% of walls completed in April Primary Crusher – conveyor alignment Primary crusher overview Primary Crusher – wall progress 12
Slide 14: Olympias
Olympias Production during the quarter impacted by unplanned maintenance and lower throughput; back on track for Q2 Q1 2025 HIGHLIGHTS • Q1 gold production of 11,829 oz at total cash costs(1) of $2,398/oz sold • Production in Q1 2025 impacted by: Lower throughput due to plant equipment downtime duri
Slide 15: Kışladağ
Kışladağ Solid start to the year, aided by continued leaching of ounces stacked in 2024 Q1 2025 HIGHLIGHTS • Q1 gold production of 44,319 oz at total cash costs(1) of $1,039/oz sold • Production in Q1 2025 benefited from: Continued leaching of gold ounces stacked during 2024 21% increase in ounces p
Slide 16: Efemçukuru
Efemçukuru Inline quarter – production and cost Q1 2025 HIGHLIGHTS • Q1 gold production of 19,307 oz at total cash costs(1) of $1,357/oz sold • Gold grade, throughput, and production inline with expectations Q1 2025 2025 Guidance Gold Production 19,307 oz 70 – 80 K oz Total cash costs ($/oz sold)(1)
Slide 17: Lamaque Complex
Lamaque Complex Celebrated the one millionth ounce produced during Q1 2025 Q1 2025 HIGHLIGHTS • Q1 gold production of 40,438 oz at total cash costs(1) of $836/oz sold • Production in Q1 2025 impacted by: Lower grades and recovery, partially offset by higher throughput • Costs impacted by higher labo
Slide 18: Eldorado Gold Continuing to Deliver Value Creation
Robust balance 43% increase in sheet to fully fund gold production by our growth 2027 from 2023 initiatives Eldorado Gold Increasing On track to Continuing to Deliver production, disciplined cost become one of the EU’s largest control, strong copper producers Value Creation metal prices reflected in