Greece Continues to Weigh on Eldorado’s Share Price, but We Think the Mines Will Still Open
Eldorado Gold’s ongoing problems with its Greek development projects remained the focus during its second-quarter earnings. From an operational perspective, the quarter came in largely as expected, particularly since the company had warned about changes to Kisladag’s 2017 and 2018 production last month. Production fell to 63,692 ounces, down 13% from the prior year quarter. Costs remained roughly flat from last year, with total cash costs at $502 per ounce in the second quarter. With Eldorado la...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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