Eldorado Gold plans to review 2021 production guidance on 'strong performance' in 9M 2021
(Kitco News) - Eldorado Gold today announced Q3 2021 preliminary gold production of 125,459 ounces, an 8% decrease from 136,922 ounces produced in Q3 2020 and an 8% increase from 116,066 ounces produced in Q2 2021.
Eldorado said that based on strong production performance in the first nine months of 2021, the company is reviewing the full year 2021 production guidance ranges and will provide an update with the release of its financial and operational results on October 28, 2021.
In Canada, the company said that its Q3 2021 gold production at Lamaque remained on track with both throughput and grade in-line with 2021 plans. The decline connecting the Sigma mill with the Triangle underground mine is progressing on schedule and is expected to be completed in the fourth quarter.
Eldorado added that in Turkey, Kisladag "performed well" in Q3 2021 with gold production higher than previously forecast. Several operational improvements implemented in the mine, crushing circuit, and leach pad earlier this year are resulting in increased throughput. The commissioning of the high-pressure grinding roll (HPGR) circuit remains on track.
At Efemcukuru, gold production, throughput, and average gold grade were in-line with expectations, the company added.
In Greece, the company said it continues to target efficiency and productivity improvements at Olympias. The long-term benefits in safety, culture, and productivity will result in a stronger operation with greatly enhanced economic opportunities, the company noted.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil.