Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Q2 2024 Earnings Presentation
18 slides from Eldorado Gold's earnings presentation, Jul 26, 2024
Slide 1: Q2 2024 Results Conference Call
Q2 2024 RESULTS CONFERENCE CALL July 26, 2024 Kışladağ, Türkiye
Slide 2: Forward Looking Statement
Forward Looking Statement Definitions Capitalized terms used in this presentation but not otherwise defined herein have the meanings ascribed thereto in the Management’s Discussion and Analysis dated July 25, 2024 of Eldorado Gold Corporation for the three months and six months ended June 30, 2024 (
Slide 3: Non-IFRS Measures
Non-IFRS Measures Certain non-IFRS financial measures and ratios are included in this presentation, including total cash costs and total cash costs per ounce sold, all-in sustaining costs ("AISC") and AISC per ounce sold, sustaining and growth capital, average realized gold price per ounce sold, adj
Slide 4: Participants and Agenda
Participants and Agenda George Burns SECOND QUARTER 2024 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 Production expected to be H2 2024 weighted; 2024 Operating Guidance Maintained In-Line Quarter 12% STEADY Q2 2024 in production Operations continued to perform in-line with over Q2 2023 expectations, and generated ~$34 million of free cash flow(1), excluding Skouries investment spe
Slide 6: Q2 2024 Highlights
Q2 2024 Highlights Strong Focus on Health, Safety & Sustainability HEALTH & SAFETY • LTIFR of 0.40 in Q2 2024, decreased from 1.32 in Q2 2023 • Focus on preventing high potential incidents and further empowerment of our employees to promote a positive health and safety culture • Hellas Gold honoured
Slide 7: Financial Results: Q2 2024
Financial Results: Q2 2024 Gold Production(4) ($millions unless otherwise noted) Q2 2024 Q2 2023 160 1000 Key Metrics 140 Au produced (oz) 122,319 109,435 900 120 Au sold (oz) 121,266 110,134 800 100 Au koz $/oz Metal sales revenues 297.1 229.0 80 700 Average realized gold price ($/oz sold) (1) 2,33
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 June 30, 2024) TOTAL LIQUIDITY: $810 million Cash balance + availability on senior secured credit facility (2) CASH, CASH EQUIVALENTS
Slide 9: Skouries
Skouries Progress continues on major earthworks and infrastructure construction Q2 2024 HIGHLIGHTS(1) • Overall project completion at 76% including prior work Detailed engineering at 72%; Procurement substantially complete Construction of major earthworks structures continues to ramp-up including th
Slide 10: Skouries: Positioned to Deliver
Skouries: Positioned to Deliver $144 million invested in H1 2024: $375 to $425 Million Capital Expected in 2024: On track Q2 2024 HIGHLIGHTS (CONTINUED) • Q2 2024 invested: $92 million H1 2024 invested: $144 million • Mobilization of site personnel continues to ramp up 841 personnel on site; 1,300 e
Slide 11: Skouries: Crusher Building & Filter Plant
Skouries: Crusher Building & Filter Plant Primary Crusher (left photo) and Filter Plant Area (right photo) Excavations and slope stabilizations are progressing in all areas and the excavation and backfill for the conveyor Two active drills are working at the filter plant, where 270 piles have been c
Slide 12: Skouries: Advancing Support Infrastructure
Skouries: Advancing Support Infrastructure Main Process Plant Building – West Side Pump House Secondary Substation Process Control Room 11
Slide 13: Skouries: Advancing Support Infrastructure
Skouries: Advancing Support Infrastructure Main Process Plant Building – East Side East side of main process plant building Lime Plant, Compressors and Flotation Reagents buildings 12
Slide 14: Olympias
Olympias Impacted by labour-initiated work stoppages Q2 2024 HIGHLIGHTS • Q2 gold production of 13,541 oz at total cash costs(1) of $1,231/oz sold • Total cash costs(1) were positively impacted by the efficiencies from recent transformation initiatives, as well as slightly lower unit costs of certai
Slide 15: Kışladağ
Kışladağ Production in line with expectations Q2 2024 HIGHLIGHTS • Q2 gold production of 38,990 oz at total cash costs(1) of $941/oz sold • Production in Q2 2024 driven by: Higher tonnes placed on the pad and higher grade in the quarter • Total cash costs(1) impacted by increased royalties due to hi
Slide 16: Efemçukuru
Efemçukuru Steady producer quarter over quarter Q2 2024 HIGHLIGHTS • Q2 gold production of 22,397 oz at total cash costs(1) of $1,087/oz sold Gold production, throughput, and average gold grade were in line with the plan for the quarter • Production is expected to be relatively consistent in H2 comp
Slide 17: Lamaque Complex
Lamaque Complex Delivered strong gold production in Q2 Q2 2024 HIGHLIGHTS • Q2 gold production of 47,391 oz at total cash costs(1) of $759/oz sold • Production in Q2 2024 driven by: Higher grades during the quarter, in line with expectations • Total cash costs(1) impacted by higher royalties, and an
Slide 18: Eldorado Gold Continuing to Deliver Value Creation
Robust Balance 45% Increase in Sheet to fully fund Gold Production our growth by 2027 initiatives Eldorado Gold On track to Continuing to Deliver Increasing production, become one of the EU’s largest decreasing costs, copper producers Value Creation and higher metal prices and key supplier of the cr