{"id":787228,"date":"2023-10-01T08:09:33","date_gmt":"2023-10-01T12:09:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/eldorado-gold-announces-third-quarter-2023-preliminary-production-and-conference-call-details-provides-project-update-on-skouries\/"},"modified":"2023-10-01T08:09:33","modified_gmt":"2023-10-01T12:09:33","slug":"eldorado-gold-announces-third-quarter-2023-preliminary-production-and-conference-call-details-provides-project-update-on-skouries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eldorado-gold-announces-third-quarter-2023-preliminary-production-and-conference-call-details-provides-project-update-on-skouries\/","title":{"rendered":"Eldorado Gold Announces Third Quarter 2023 Preliminary Production and Conference Call Details; Provides Project Update on Skouries"},"content":{"rendered":"
\n

VANCOUVER, British Columbia, Oct. 01, 2023 (GLOBE NEWSWIRE) — Eldorado Gold Corporation <\/strong>(\u201cEldorado\u201d or \u201cthe Company\u201d) announces third quarter 2023 preliminary gold production of 120,042 ounces and year-to-date preliminary gold production of 340,986 ounces. Eldorado remains on track to achieve consolidated full-year guidance of 475,000 \u2013 515,000 ounces, with operations delivering as expected. Production, by asset, is outlined in the table below.<\/p>\n

\n Q3 2023 Preliminary Gold Production<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Production (oz)<\/strong>\n <\/td>\n<\/tr>\n
\n Mine<\/strong>\n <\/td>\n\n Q3 2023<\/strong>
\n
\n (1)<\/strong>
\n <\/sup>\n <\/td>\n		\n Q2 2023<\/strong>\n <\/td>\n\n Q1 2023<\/strong>\n <\/td>\n<\/tr>\n
Kisladag<\/td>\n37,485<\/td>\n34,180<\/td>\n37,160<\/td>\n<\/tr>\n
Lamaque<\/td>\n42,691<\/td>\n38,745<\/td>\n37,884<\/td>\n<\/tr>\n
Efemcukuru<\/td>\n21,170<\/td>\n22,644<\/td>\n19,928<\/td>\n<\/tr>\n
Olympias<\/td>\n18,696<\/td>\n13,866<\/td>\n16,537<\/td>\n<\/tr>\n
\n Total Gold Production (oz)<\/strong>\n <\/td>\n\n 120,042<\/strong>\n <\/td>\n\n 109,435<\/strong>\n <\/td>\n\n 111,509<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Production (oz)<\/strong>\n <\/td>\n<\/tr>\n
\n Mine<\/strong>\n <\/td>\n\n 9 months ending Sept. 30, 2023<\/strong>
\n
\n (1)<\/strong>
\n <\/sup>\n <\/td>\n		\n Guidance 2023<\/strong>\n <\/td>\n<\/tr>\n
Kisladag<\/td>\n108,825<\/td>\n160,000 \u2013 170,000<\/td>\n<\/tr>\n
Lamaque<\/td>\n119,320<\/td>\n170,000 \u2013 180,000<\/td>\n<\/tr>\n
Efemcukuru<\/td>\n63,742<\/td>\n80,000 \u2013 90,000<\/td>\n<\/tr>\n
Olympias<\/td>\n49,099<\/td>\n60,000 \u2013 75,000<\/td>\n<\/tr>\n
\n Total Gold Production (oz)<\/strong>\n <\/td>\n\n 340,986<\/strong>\n <\/td>\n\n 475,000 \u2013 515,000<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n
\n (1)\u00a0\u00a0\u00a0Production figures are preliminary and may vary from final figures slightly. Eldorado Gold will release its Q3 2023 financial and operating results on October 26, 2023.<\/em>
\n <\/sup>\n <\/p>\n

\n Canada <\/strong>\n <\/p>\n

At Lamaque, third quarter production increased slightly over the first and second quarter. Production was impacted by slower than expected development in the underground as a result of suspended shifts in the second quarter due to the wildfires in the region. In the fourth quarter, we expect to continue to push development, allowing access to higher grade stopes from the C4 zone.<\/p>\n

\n Turkiye<\/strong>\n <\/p>\n

Third quarter gold production at Kisladag increased by 1% and 9% over the first and second quarter, respectively. The increased production was driven by the successful commissioning of the agglomeration drum that was added to the crushing circuit in the second quarter and tonnes placed on the heap leach pad have continued to increase as a result of the higher-capacity grasshopper conveyors and radial stacker. The larger surface area of the newly commissioned north heap leach pad has enabled the full capacity of the 54\u201d (larger) stacking equipment to increase ore tonnes placed andalong with the higher irrigation flow rates in the fourth quarter is expected to provide a strong finish to the year.<\/p>\n

At Efemcukuru, gold production, throughput and average gold grade were in line with plan.<\/p>\n

\n Greece<\/strong>\n <\/p>\n

Third quarter gold production at Olympias increased by 13% and 35% over the first and second quarter, respectively. In the third quarter, Olympias benefited from transformation initiatives completed early in the quarter including emulsion blasting and increased underground ventilation. Productivity continues to ramp up with development into the larger stopes within the Flats zone which is expected to result in steady production into the fourth quarter.<\/p>\n

\n Skouries Project Update<\/strong>\n <\/p>\n

Eldorado is pleased to provide an update on the Skouries project (\u201cSkouries\u201d or the \u201cProject\u201d) located within the Halkidiki Peninsula of Northern Greece with respect to progress to date and development plans in 2023. With full construction activities having commenced in the second quarter of 2023, Eldorado remains on budget and on track for first gold production in mid-2025 with commercial production expected at the end of 2025.<\/p>\n

The Skouries Project critical path is driven by tailings filter construction and commissioning. The tailings dam construction is projected to be completed by mid-2025 using a single 10-hour shift schedule. Ongoing work continues on the construction of haul roads and in addition, civil work is underway for the primary crusher foundation.<\/p>\n

\n Progress Project Highlights as at August 30, 2023<\/strong>\n <\/p>\n