Trimming Eldorado’s Fair Value Estimate After 4Q Earnings Release; Shares Look Attractive
At the end of 2016, Eldorado finds itself as a gold miner in transition. During the year, the company sold its Chinese mines, leaving it with just two gold mines in production. The opening of Olympias in 2017 should add more ounces this year, helping partially offset the divested mines. We don’t expect a lot of surprises this year, as attention turns to the development of Olympias and Skouries in Greece. However, because production is so concentrated, any problems at Kisladag and Efemcukuru coul...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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