INVESTOR OVERVIEW
Building our Future
With high-quality assets located around the world, a management team that combines technical expertise with a commitment to responsible growth, robust margins and a strong balance sheet, Eldorado is well-positioned to continue to create value for all our stakeholders
WHY INVEST IN ELDORADO GOLD?
- Mining, development and exploration operations in Canada, Türkiye and Greece
- 4 operating gold mines, 1 advanced development project and a robust pipeline of development projects
- 485,139 oz Gold produced in 2023
- 2024 Gold Production Guidance of between 505,000 to 530,000 oz
- Total Proven & Probable Gold Reserves: 11.7 Moz(1)
(1) Based on 2023 Mineral Reserve and Mineral Resource Statement and $1,800/oz Au, $24/oz Ag, $3.25/lb Cu, $2,200/tn Pb, $2,800/tn Zn. Refer to Reserves and Resources for more information on Mineral Reserves and Mineral Resources.
Four-Year Gold Production Outlook: 2024-2027
- 45% gold production growth, from 2023 production, driven by organic growth projects and first production from Skouries expected in Q3 2025
Skouries
- In full construction, ~140kozs average annual gold production and ~67 million pounds average annual copper production forecast, with commercial production expected at end of 2025
Lamaque Complex
- Initial Ormaque Reserve expected to be declared at the end of 2024
- Large resource base and exploration upside from nearby targets
Kışladağ
- Increase throughput and recovery
- Long mine life of 13 years
- External recognition:
- Globe & Mail’s Top 30: Road to Net Zero in 2023
- 1st overall in the Materials sector in the Globe & Mail's 2023 Board Games
- Adherence to World Gold Council Conflict Free Gold Standards
- Utilize dry stack tailings technology
- Leading management practices
- Independent tailings review board
- Routine 3rd party inspections of reviewable structures
- Local employment and procurement policies focused on creating value in the communities where we operate
- Implemented “Golden Rules” safety handbook globally
- Advancing high-quality Greek assets creates rerating potential
- Lowering AISC and increasing margins:
- 2023 AISC(1) $1,220/oz sold
- 2023 Total Cash Operating Costs(1) $743/oz sold
- Expecting significant Free Cash Flow with productivity improvements at the operating assets and Skouries delivery
- Shareholder returns and debt reduction with Skouries delivery
(1) These 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 in the press release dated February 22, 2024 titled ‘Eldorado Gold Reports 2023 Year-End and Fourth Quarter Financial and Operational Results; Achieves Annual Guidance; Provides Skouries Update’ and in the section 'Non-IFRS and Other Financial Measures and Ratios' in the Company's December 31, 2023 MD&A.
- Cash, cash equivalents and term deposits of ~$677 million as of September 30, 2024
- Continue to focus on maintaining a solid financial position which provides flexibility to respond to opportunities and unlock value across our business
- Zero cost collars protect cash flow during Skouries construction
- Leverage to copper production and strengthening metal prices
Latest Presentation
Reports & Financials
REPORT TITLE | LINK |
---|---|
Q3 2024 News Release | Download PDF |
Q3 2024 MD&A | Download PDF |
Q3 2024 Financial Statements | Download PDF |
Q3 2024 Earnings Call Presentation | Download PDF |
Q3 2024 Webcast & Conference Call | See Event Details |
Q2 2024 Presentation | Download PDF |
SUSTAINABILITY REPORT
Eldorado Gold is committed to implementing sustainability from the ground up in service of our vision to build a safe, sustainable, high-quality business in the gold mining sector creating value today and for future generations. This means we consider sustainability in everything we do, from exploration to closure, and in our relationships with customers, communities, investors and other stakeholders.