https://www.miningweekly.com
Gold|Power|PROJECT|Projects
Gold|Power|PROJECT|Projects
gold|power|project|projects

Eldorado Gold updates 2023 guidance

30th October 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Canada-headquartered Eldorado Gold has tweaked its guidance for gold production, cost and capital expenditure (capex) to narrow the ranges, reflecting its updated expectations for the company.

Gold production is expected to be 475 000 oz to 495 000 oz, from the previous guidance of 475 000 oz to 515 000 oz.

The cash operating cost per ounce sold range has been lowered to between $730/oz and $780/oz, from $760/oz to $860/oz, owing to lower unit costs for fuel and power, as well as a weaker Lira and Canadian dollar.

All-in sustaining costs are forecast to be between $1 190/oz and $1 240/oz.

Eldorado slashed its capex guidance from a previous range of $394-million to $437-million, to a new range of $280-million to $305-million. The lower capital investment stems from adjustments to its spending at the Skouries project, in Greece, as well as deferral of projects at Lamaque, in Canada, and Kisladag, in Türkiye.

During the third quarter, Eldorado produced 121 030 oz of gold at an AISC of $1 177/oz. The miner generated revenue of $245.3-million and reported adjusted net earnings of $35-million, or $0.17 a share.

Edited by Creamer Media Reporter

Comments

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.146 0.177s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: