InvestorsHub Logo
Followers 1074
Posts 105761
Boards Moderated 55
Alias Born 11/22/2003

Re: nowwhat2 post# 1042

Sunday, 07/12/2020 1:08:33 PM

Sunday, July 12, 2020 1:08:33 PM

Post# of 1063
Eldorado Gold powers through Q2
Michael McCrae Michael McCrae
Saturday July 11, 2020 13:35
Kitco NewsShare this article:


Despite COVID-19 disruption in Q2 at many mines worldwide, Eldorado Gold (TSE:ELD) reported production gains this week during the quarter.

Preliminary production was 137,782 ounces of gold, a 50% increase over Q2 2019.

Gold output even beat the last quarter, which hit 115,950 ounces.


Gold production at Kisladag increased by 130% over Q2 2019, and 19% over Q1 2020. Increased production in Q2 2020 was due to higher grade and tonnes of stacked ore and increased solution grades due to drier weather in June. Gold bearing solution levels remain high and are expected to decrease over the summer months, which will allow for processing of the gold currently in solution


Production at Olympias increased by 159% over Q2 2019 and 18% over Q1 2020. This reflects the work completed at Olympias over the past year to increase underground development and backfilling, which has resulted in increased tonnes processed.

Production at Efemcukuru for Q2 2020 was slightly higher than Q1 2020 due to higher grades processed during the quarter.

Operations at Lamaque resumed on April 15, 2020 following a three-week mandated shutdown by the government of Quebec to address the COVID-19 pandemic. Production was higher in Q2 2020 compared to Q1 2020 due to higher grades and an increase in tonnes mined per day enabled by the recently received Certificate of Authorization from the Quebec Ministry of Environment.

By Michael McCrae
For Kitco News

Its a long bull hike back UP MOVE ON ^ ^ ^ ^



My opinions are my own and and DD I post should be confirmed as unbiased

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent EGO News