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Eldorado Gold (NYSE:EGO) said Sunday it expects Q3 gold production of slightly more than 120K oz and YTD preliminary gold production of nearly 341K oz, remaining on track to achieve consolidated full-year guidance of 475K-515K oz, with operations delivering as expected.
Eldorado (EGO) said Q3 output increased slightly at the Lamaque mine in Canada, with slower than expected development in the underground due caused by suspended shifts in Q2 due to nearby wildfires.
Higher Q3 gold production at Kisladag in Turkey was driven by the commissioning of the agglomeration drum that was added to the crushing circuit during Q2.
In Greece, Q3 gold production at Olympias rose by 13% and 35% over Q1 and Q2, respectively. helped by transformation initiatives completed early in the quarter; at the Skouries project, with full construction activities started in Q2, Eldorado (EGO) said it remains on budget and on track for first gold production in mid-2025 with commercial production expected at the end of 2025.
The company expects Skouries will produce an average of 140K oz of gold and 67M lbs of copper annually over its initial 20-year mine life.