Overview
(All amounts expressed in US dollars, unless otherwise stated)
Eldorado Gold Corporation, based in Vancouver, Canada, is an international gold producing company active in development and exploration. Our shares trade on the Toronto Stock Exchange (TSX) under the symbol ELD and on the New York Stock Exchange (NYSE) under the symbol EGO. ELD is on the S&P/TSX Global Gold Index and EGO is part of the Amex Gold BUGS Index.We have superior assets in Brazil, China, Greece and Turkey - countries with substantial geological potential.
Our wholly owned Kişladağ mine in western Turkey, began commercial production in July 2006, producing 70,895 ounces of gold in its first year at a cash operating cost of $206/oz. In 2007, the mine produced 135,306 ounces at a cash operating cost of $189/oz, and in 2008 it produced 190,334 ounces of gold at a cash operating cost of $254/oz.
Our 90% owned Tanjianshan mine (TJS) in western China began commercial production in February 2007. Its total production in 2007 was 138,162 ounces of gold at a cash operating cost of $288/oz. In 2008, its production was 118,468 ounces of gold at a cash operating cost of $261/oz.
In December 2008, we completed the sale of our São Bento mine in Brazil to AngloGold Ashanti for $70 million. The mine ceased ore production in January 2007. São Bento produced more than 1.8 million ounces of gold since 1987.
As at December 31, 2008, Eldorado had 7.6 million ounces of proven and probable gold reserves from 11.8 million ounces of measured and indicated gold resource and 4.2 million ounces of inferred resource. We are actively growing businesses in Brazil, China, Greece and Turkey. We are unhedged and are well positioned to experience continued growth and value. The Company, through its ongoing exploration, development and operating activities, plans to produce more than 800,000 ounces of gold annually by 2013.
Last update: October 30, 2009.
