Eldorado Gold Reports Decent 2Q and Raises Guidance, but Greek Uncertainty Remains
Eldorado’s second quarter looked much better than the year prior, with gold production rising 56% to 99,105 ounces. All-in sustaining costs, or AISC, rose 10% to $934 per ounce. However, production more than offset the increased costs as gross profit from gold mining rose 7% to $30 million. As a result of solid first-half progress and revisions to Kisladag’s outlook, the company raised full-year guidance to 330,000 to 340,000 ounces, up from 290,000 to 330,000 ounces.The updates to our forecast...
Eldorado Gold is engaged in the exploration, development, mining and production of gold and other mining resources in Brazil, China, Turkey and Greece.
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