(Kitco News) - Eldorado Gold (TSX: ELD) yesterday announced second quarter 2022 preliminary gold production of 113,462 ounces, which is a slight 2% decrease over Q2 2021 (116,066 ounces).
Importantly, the company said it maintains its full-year 2022 consolidated production guidance of 460,000 to 490,000 ounces.
Eldorado noted that at the Lamaque gold mine in Canada, underground development of high-grade stopes progressed well, and gold production of 46,917 ounces (Q2 2021: 35,643 ounces) was higher than planned, as a result of higher throughput and higher grades.
However, the company's gold production at Kisladag (Turkiye) of 27,973 ounces (Q2 2021: 44,016 ounces) was below plan due to the effects of lower tonnes placed on the leach pad in the first quarter. Eldorado said it continues to anticipate production at Kisladag to be weighted to the second half of the year.
At Efemcukuru (Turkiye), gold production, throughput, and average gold grade were in line with expectations, the company added.
Eldorado also said that the company's Olympias mine (Greece) saw meaningful productivity improvements and good control on gold grades in the second quarter, which led to increase in gold output from 12,934 ounces in Q2 2021 to 15,779 ounces in Q2 2022. Additionally, production improved as a result of processing ore stockpiles.
"Transformation initiatives continue to show positive results as the Olympias mine continues to ramp up productivity," Eldorado noted in a statement.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada, Greece and Romania.
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