Eldorado Gold’s Q2 preliminary output fell 2% Y/Y (NYSE:EGO)

Eldorado Gold’s Q2 preliminary output fell 2% Y/Y (NYSE:EGO)

Juan Jose Napuri/iStock via Getty Images

Eldorado Gold (NYSE:EGO) reported Wednesday that Q2 preliminary gold production totaled 113,462 oz, up 21.7% Q/Q but down 2.2% Y/Y, while maintaining full-year output guidance of 460K-490K oz.

Eldorado (EGO) said Q2 gold production at its Canadian sites was higher than planned, due to higher throughput and higher grades.

Q2 gold production at the Kisladag mine in Turkey was below plan due to the effects of lower tonnes placed on the leach pad in Q1, but Q2 saw a notable increase in tonnes placed on the leach pad with a higher average grade, which the company said should boost production in Q3.

In Greece, Eldorado (EGO) said Olympias saw “meaningful productivity improvements” as the mine continued to ramp up activity.

Eldorado (EGO) closed Wednesday’s trading +2.7%, bouncing off 52-week lows as precious metals equities scored broad gains following U.S. consumer price data that showed another 40-year high in inflation.

Originally Posted on: https://seekingalpha.com/news/3856608-eldorado-golds-q2-preliminary-output-fell-2-yy?source=feed_tag_commodities
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