Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Eldorado Gold Corporation has announced that as of April 1, 2019, mining, crushing and placing of ore on the Kisladag heap leach pad has resumed. This follows the company’s announcement on January 30, 2019, that it would resume full operations at Kisladag. Further testwork is underway to determine the effects of a 250 day leach cycles on deeper material, the results of which are expected to be available in late 2019 or early 2020.
Eldorado’s President and Chief Executive Officer, George Burns, stated: “My thanks to Matt Badylak, Kisladag General Manager, and the team at site, as resumption of operations has started on schedule. We are now prepared to deliver on our 2019 Kisladag guidance of 145,000-165,000 ounces at a cash cost of $570-620 per ounce, increasing in 2020 to 240,000-260,000 ounces.”
