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Our assets are in Türkiye, Greece and Canada. In Türkiye, we operate two gold mines located in the western region, Kişladağ and Efemçukuru. In Greece, our Olympias mine is a polymetallic mine that produces gold, silver, lead, and zinc, located in the Halkidiki Peninsula. In Canada, we operate the Lamaque Complex in Val-d'Or, Quebec. 

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Q1 2024

FY 2023

2024 Outlook

Ounces produced

117,111

485,139

505,000 – 555,000

Ounces sold

116,008

483,978

-

Total cash costs ($/oz) 1

922

743

840 – 940 3

All-in sustaining costs ($/oz) 1

1,262

1,220

1,190 – 1,290 3

Growth capital expenditures ($M) 1

32.7

121.1

497 – 569

Sustaining capital expenditures ($M) 1

29.1

121.8

135 – 160 2

Kişladağ, Türkiye




Gold ounces produced

37,523

154,849

180,000 – 195,000

Gold ounces sold

36,699

154,456

-

Tonnes processed

2,761,774

13,220,164

13,200,000 – 13,700,000

Grade (grams / tonne)

0.77

0.78

0.7 – 0.8

Total cash costs ($/oz) 1

820

657

820 – 920

All-in sustaining costs ($/oz) 1

916

900

890 - 990

Growth capital expenditures ($M) 1

25.5

83.7

85 – 95

Sustaining capital expenditures ($M) 1

2.2

16.0

10 – 15

Lamaque Complex, Canada




Gold ounces produced

42,299

177,069

175,000 – 190,000

Gold ounces sold

44,620

176,495

-

Tonnes milled

234,559

838,419

880,000 – 910,000

Grade (grams / tonne)

5.81

6.76

6.3 – 6.8

Total cash costs ($/oz) 1

779

643

700 - 800

All-in sustaining costs ($/oz) 1

1,262

1,089

1,180 – 1,280

Growth capital expenditures ($M) 1

5.1

23.3

17 – 22

Sustaining capital expenditures ($M) 1

21.1

72.7

85 – 95 2

Efemçukuru, Türkiye




Gold ounces produced

18,501

86,088

75,000 – 85,000

Gold ounces sold

18,614

86,078

-

Tonnes milled

137,032

547,089

540,000 – 550,000

Grade (grams / tonne)

4.96

5.64

5.0 – 5.5

Total cash costs ($/oz) 1

1,154

797

1,080 – 1,180

All-in sustaining costs ($/oz) 1

1,138

1,154

1,290 – 1,390

Growth capital expenditures ($M) 1

1.1

6.7

6 – 9

Sustaining capital expenditures ($M) 1

2.4

14.0

18 – 26 2

Olympias, Greece




Gold ounces produced

18,788

67,133

75,000 – 85,000

Gold ounces sold

16,075

66,949

-

Tonnes milled

118,597

454,122

490,000 – 510,000

Grade (grams / tonne)

8.67

8.23

8.0 – 9.0

Total cash costs ($/oz) 1

1,287

1,133

980 – 1,080

All-in sustaining costs ($/oz) 1

1,527

1,688

1,280 – 1,380

Growth capital expenditures ($M) 1

1.0

7.4

14 – 18

Sustaining capital expenditures ($M) 1

3.5

19.0

45 - 51

By-product credits ($M) 4

19.6

77.3

N/A

Note: All amounts are in US$ unless otherwise indicated.

1These financial measures or ratios are non-IFRS financial measures or ratios. Certain additional disclosure for non-IFRS financial measures and ratios have been incorporated by reference and additional detail can be found at the end of this press release and in the section 'Non-IFRS and Other Financial Measures and Ratios' in the Company's March 31, 2024 MD&A.
2Includes capitalized exploration at Lamaque and Efemcukuru.
3Totals may not add based on the averaging of costs.
4Revenue from silver, lead and zinc sales.