3-Year Operating Outlook

Gold production (midpoint) increasing 33% over 3 years driven by our growth projects.

Gold Production (000’ oz)2024A2025E(2)2026E(1)2027E
Lamaque Complex197-180 - 190175 - 185
Kışladağ174-135 - 145165 - 175
Efemçukuru80-75 - 8570 - 80
Olympias70-80 - 9080 - 90
Skouries--135 - 155(2)195 - 205
Total Gold520470 - 490605 - 665630 - 720
Copper Production (M lb)     
Skouries---45 - 6060 - 80
Total Copper---45 - 6060 - 80

(1)    Includes expected pre-commercial production from Skouries. Skouries’ commercial production is expected in mid-2026.
(2)    On October 30, 2025, the Company announced updated 2025 consolidated guidance ranges to reflect updated full-year expectations given the operational and financial performance year to date.

2025 OPERATIONS UPDATE

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 Q1 2025Q2 2025Q3 2025YTD 2025FY 2024
Consolidated Results     
Ounces produced115,893133,769115,190364,852520,293
Ounces sold116,263131,489116,529364,281517,926
Production costs$148.3$162.2$164.1$474.6$564.2
Total cash costs ($/oz sold) (1,2)$1,153$1,064$1,195$1,134$940
All-in sustaining costs ($/oz sold) (1,2)$1,559$1,520$1,679$1,583$1,285
Sustaining capital expenditures ($M) (2)$32.9$44.1$38.3$115.2$124.3
Kışladağ, Türkiye     
Ounces produced44,31946,05837,184127,561174,080
Ounces sold44,33845,29037,300126,928173,124
Production costs$47.5$52.7$50.1$150.3$162.7
Total cash costs ($/oz sold) (1,2)$1,039$1,133$1,309$1,152$918
All-in sustaining costs ($/oz sold) (1,2)$1,138$1,324$1,545$1,324$1,025
Sustaining capital expenditures ($M) (2)$2.3$6.5$7.3$16.0$12.7
Lamaque Complex, Canada     
Ounces produced40,43850,64046,823137,901196,538
Ounces sold42,20549,44746,013137,665194,670
Production costs$35.7$36.1$36.0$107.9$140.3
Total cash costs ($/oz sold) (1,2)$836$721$767$772$711
All-in sustaining costs ($/oz sold) (1,2)$1,392$1,231$1,199$1,270$1,134
Sustaining capital expenditures ($M) (2)$22.7$25.4$19.2$67.3$80.3
Efemçukuru, Türkiye     
Ounces produced19,30721,09317,58657,98680,143
Ounces sold17,79020,77920,03158,60080,002
Production costs$24.7$28.5$32.3$85.5$99.9
Total cash costs ($/oz sold) (1,2)$1,357$1,335$1,522$1,405$1,231
All-in sustaining costs ($/oz sold) (1,2)$1,550$1,667$1,791$1,674$1,411
Sustaining capital expenditures ($M) (2)$3.0$6.4$4.9$14.3$15.9
Olympias, Greece      
Ounces produced11,82915,97813,59741,40469,532
Ounces sold11,93015,97313,18541,08870,130
Production costs$40.3$44.8$45.8$130.9$161.3
Total cash costs ($/oz sold) (1,2)$2,398$1,578$1,869$1,910$1,304
All-in sustaining costs ($/oz sold) (1,2)$2,842$1,967$2,421$2,367$1,562
Sustaining capital expenditures ($M) (2)$4.9$5.8$6.9$17.6$15.4

 

 

(1) Revenues from silver, lead and zinc sales are off-set against total cash costs.

(2) These financial measures or ratios are non-IFRS financial measures or ratios. See the section 'Non-IFRS and Other Financial Measures and Ratios’ of the latest MD&A for explanations and discussions of these non-IFRS financial measures or ratios.