Eldorado Gold

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Eldorado Gold Corporation
Public
Traded as TSXELD
NYSEEGO
Industry Gold
Founded 1992 but amalgamated as Eldorado Gold Corporation in 1996
Headquarters Vancouver, British Columbia, Canada
Number of locations
Brazil, Greece, Romania, Serbia, Turkey
Key people
Paul N. Wright (President & CEO)
Paul Skayman (COO)
Fabiana Chubbs (CFO)
Dawn Moss (EVP Administration)
Revenue US$863.3 million (2015)[1]
US$256.92 million (2015)[2]
US$(1.645) billion (2015)[3]
Total assets US$5.464 billion (2015)[4]
Total equity US$3.752 billion (2015)[5]
Number of employees
4,600 (end 2016) [6]
Subsidiaries Tuprag www.tuprag.com.tr
Hellas Gold www.hellas-gold.com
Website www.eldoradogold.com

Eldorado Gold Corporation is a Canadian mid-cap gold mining company. It has assets in Turkey, Greece, Romania, Brazil and Serbia. Eldorado's activities involve all facets of mining, including exploration, development, production and reclamation.

With headquarters in Vancouver, Eldorado's 14 offices and operations employ over 4,600 people worldwide. The company operates as a decentralized business unit with the majority of employees and management being nationals of the country where offices are located.

Eldorado has over 20 years of experience in building and operating mines globally. The company is dedicated to responsible operations, the highest safety and environmental standards and working with stakeholders to enhance the communities where it operates.

Eldorado is publicly traded on the Toronto Stock Exchange (TSX: ELD) and on the New York Stock Exchange (NYSE: EGO).

Operations[edit]

Eldorado has two operating gold mines, Kisladag and Efemcukuru, both of which are in western Turkey. Together, these produce about 40% of Turkey's total annual gold production.

Eldorado also operates a small silver-lead-zinc mine in Greece: Stratoni.

Eldorado produced just over 485,000 ounces of Au in 2016 at average cash operating costs of US$578 per ounce and all in sustaining costs of approximately $915 per ounce.[7]

At the end of 2015, the company had proven and probable gold reserves of approximately 25 million ounces.[8]

The company estimates it will produce between 365,000-400,000 ounces of gold at cash operating costs between $485–535 per ounce in 2017.[9]

Eldorado operates in Turkey under its subsidiary: Tuprag and in Greece under its subsidiaries: Hellas Gold and Thracean Gold Mining.

Eldorado produced 486,025 ounces of gold in 2016 at all-in sustaining costs of approximately $900 per ounce. The Company generated $605.9 million in revenue and reported a loss of $344.2 million for full year 2016. [10]

Developments[edit]

Eldorado has three development projects in Greece, one in Romania and one in Brazil.

Greece Hellas Gold's three assets are located in the Halkidiki peninsula in northern Greece. Hellas Gold operates Stratoni, an underground, silver-lead-zinc mine and is developing Olympias, a polymetallic deposit and Skouries, a gold-copper porphyry. All three projects have full environmental approvals, that have been challenged and upheld on multiple occasions by the Council of State, Greece’s Supreme Court on environmental and administrative affairs.[11]

Thracean Gold Mining holds Perama Hill, a gold-silver vein deposit in Thrace, which is currently on care and maintenance pending receipt of the Environmental Impact Assessment permit.

In Romania, Eldorado is working to develop the Certej project, an epithermal gold-silver deposit in the Apuseni Mountains. In Brazil, Eldorado is developing the Tocantinzinho gold project in the Tapajos district in Para State.

Divestitures[edit]

Eldorado completed the sale of its four Chinese assets in Q3/Q4 2016.

References[edit]

External links[edit]