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Eldorado Gold reports Q3 EPS 35c, consensus 34c
The Fly

Eldorado Gold reports Q3 EPS 35c, consensus 34c

Reports Q3 revenue $331.8M, consensus $360.38M. Reports Q3 Gold production: 125,195 ounces were produced in the quarter. Production increased 3% from Q3 2023, reflecting increased gold production of 13% at Olympias due to higher gold grades processed and 10% at Kisladag as a result of increased heap leach inventory drawdown…Gold production: 125,195 ounces were produced in the quarter. Production increased 3% from Q3 2023, reflecting increased gold production of 13% at Olympias due to higher gold grades processed and 10% at Kisladag as a result of increased heap leach inventory drawdown. “As gold prices reached record highs during the quarter we continued to realize margin expansion and strong cash flow generation across our operations,” said George Burns, President and Chief Executive Officer. “Free cash flow before Skouries investment totalled $98.3 million.” “Production reached 364,625 ounces in the first nine months of the year, an increase of 7% compared to 2023, and 12% compared to 2022, respectively. We are on track to meet our 2024 production and cost guidance. We have tightened the gold production range to between 505,000 to 530,000 ounces. As gold prices hit record highs in the third quarter, we continued to experience increased royalty costs, which has impacted our overall costs, and we expect full year all-in sustaining costs to be near the upper end of guidance of between $1,260 and $1,290 per ounce.”

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