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Eldorado produces 454 koz of gold in 2022, says output at Kisladag was lower than planned

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(Kitco News) - Eldorado Gold (TSX: ELD) (NYSE: EGO) today announced Q4 2022 preliminary gold production of 128,453 ounces, and full year 2022 preliminary gold production of 453,916 ounces (2021: 475,850 ounces).

"During the year, consolidated production continued to increase sequentially, quarter over quarter. Fourth quarter production was strong across all assets, in line with the company’s expectation of a stronger second half of 2022," Eldorado said in a press release.

The company reported that at the Lamaque gold mine in Canada, Q4 2022 production increased 20% over the third quarter, mainly driven by higher grade and increasing throughput performance at the mill, adding that the mine delivered record annual production, a 14% increase over 2021.

Fourth quarter gold production at Kisladag (Turkiye) increased 7% over the third quarter. However, the company said that despite an approximate 35% increase in production in the second half, compared to the first half of 2022, full year production results at Kisladag were lower than planned, mainly attributable to lower tonnes stacked as a result of weather and COVID-absenteeism challenges in early 2022, and ongoing agglomeration optimization that continues to progress well.

At Efemcukuru (Turkiye), gold production, throughput and average gold grade were in line with plan for the quarter and for the full year, the company said.

Fourth quarter gold production at Olympias (Greece) was relatively flat quarter over quarter. Overall, 2022 production from Olympias was lower than planned due to lower-than-expected tonnes processed and availability of ore stopes, it added.

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece.

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