(Kitco News) - Yesterday, Eldorado Gold (TSX: ELD) (NYSE: EGO) announced Q3 2022 preliminary gold production of 118,790 ounces, and 9M 2022 preliminary gold production of 325,461 ounces (9M 2021: 353,268 ounces).
The company said that at its Lamaque gold mine in Canada, third quarter production was slightly below plan due to throughput, adding that underground development of high-grade stopes progressed well during the quarter.
Third quarter gold production at Kisladag (Turkiye) increased 27% and 35% over the first and second quarter, respectively. The increase in gold production quarter-over-quarter was driven by an increase in tonnes placed on the pad during the second quarter, it noted.
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 plan, the company added.
Eldorado also reported that third quarter gold production at Olympias (Greece) improved 79% over the first quarter and was in line with second quarter production.
"In the third quarter, Olympias had steady production, and good grade control, evidence of the progressive transformation in action. Other transformation initiatives continue at pace, as the mine continues to ramp up productivity. Full-year 2022 production at Olympias is expected to be lower than plan," the company said in a statement.
Importantly, Eldorado informed that the company remains on track to achieve the low end of consolidated full-year guidance for 2022 of 460,000 ounces, "as operating trends continue to improve, and sequential quarterly improvements in production are realized."
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada, Greece and Romania.
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