Eldorado Gold reports Q2 adjusted EPS 33c, consensus 26c

Reports Q2 revenue $297.1M, consensus $309.69M. Gold production was 122,319 ounces, an increase of 12% from Q2 2023. “Operationally, the second quarter was aligned with guidance, driven by higher grades at Kisladag, Lamaque and Efemcukuru,” said CEO George Burns. “At Olympias, as negotiations on a new CBA progressed during the quarter, we experienced intermittent labour-initiated work stoppages, which had a small impact on consolidated production…With production totaling 239,430 ounces through the first half of the year and unit costs expected to decrease over the second half of the year, we remain on track to achieve 2024 guidance. Our continued focus on operational efficiencies and productivity position us for stronger production and improved unit costs during the second half of 2024. In addition, we remain on budget and on track for first production at Skouries in Q3 of 2025.”