Eldorado Gold lifts full-year production outlook, lowers cost guidance


Eldorado Gold (NYSE:EGO) +0.8% AH after reporting in-line Q2 earnings and revenues but lifting its full-year production guidance.

Q2 gold production rose 9% Y/Y to ~200K oz.

Raises FY 2014 gold production outlook to 790K oz., with average cash costs for commercial production of $495/oz. and average all-in sustaining cash costs of $850/oz.; previous guidance saw production of 730K-800K oz. at average cash costs of $550-$590/oz. and average all-in sustaining cash costs of $915-$985/oz.

Full-year capital spending is forecast at $170M in sustaining capital and $265M in project development capital compared vs. prior $170M and $345M respectively, mainly due to projected lower capital spending at Skouries.

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Comments (3)
  • Special Situations and Arbs
    , contributor
    Comments (1424) | Send Message
     
    That is a really good report
    31 Jul 2014, 07:17 PM Reply Like
  • rlarge1949
    , contributor
    Comments (46) | Send Message
     
    Very exciting development of potential Hong Kong stock offering for EGO Chinese assets. This will enhance value of all EGO shares!
    1 Aug 2014, 02:11 PM Reply Like
  • Special Situations and Arbs
    , contributor
    Comments (1424) | Send Message
     
    Yes good point rlarge1949.

     

    This stock in my opinion has the potential to climb a lot higher
    1 Aug 2014, 03:35 PM Reply Like
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