Eldorado Gold says 2013 gold production rose 10%, cash costs flat

Eldorado Gold (EGO) says 2013 gold production totaled 721.2K oz., a 10% Y/Y increase, with average cash costs of $494/oz. vs. mid-point guidance of $520/oz. for the year and 2012 costs of $483/oz.

EGO sees 2014 gold production rising 6% to 730K-800K oz. at a cash cost of $550-$590/oz.; all-in sustaining costs are expected to be $915-$985/oz.

Sustaining capital for gold mining operations in 2014 is estimated at $170M with planned expenditures for new mining development totaling $345M, including $215M toward continued construction of the Skouries project.

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