Eldorado says its Q1 2021 gold production in-line with guidance
(Kitco News) - Eldorado Gold announced today Q1 2021 preliminary gold production of 111,742 ounces, in-line with the company’s 2021 annual guidance of between 430,000 and 460,000 ounces of gold. Q1 2021 production was 4% lower than in Q1 2020 (115,950 ounces).
The company said that Q1 2021 gold production at Lamaque (Canada) is on track, with both throughput and grade in-line with the plan to deliver annual guidance. On April 7, 2021, Eldorado announced the closing of the acquisition of QMX, which has increased the Company’s overall land position around Lamaque by 550%.
Strong first quarter production at Kisladag (Turkey) was consistent with 2021 guidance. The mine is expected to benefit from higher solution processing rates resulting from the successful installation of two additional CIC trains in the first quarter. At Efemcukuru, gold production, throughput and average gold grade were also in-line with guidance.
First quarter gold production at Olympias (Greece) was consistent with the plan to deliver 2021 guidance. The company continues to target efficiency and productivity improvements at Olympias to enhance the mine’s long-term production and cost profile.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil.