Ross Beaty awarded TNM’s lifetime achievement award
Since 2017 as chairman, Beaty has built Equinox Gold into a nearly 1-million-oz. annual producer with a $2.5-billion market value
Construction at Eldorado’s Skouries mine and processing plant.
Canada’s Eldorado Gold (TSX:ELD) (NYSE:EGO) logged Friday a third-quarter loss of $96.1 million, after reporting a profit in the same period a year earlier.
The Vancouver, British Columbia-based miner said it lost 13 cents per share, and that total losses, adjusted for non-recurring costs, were 1 cent per share. Revenue for the period was of $211.5 million.
While the results missed Wall Street expectations, the company upgraded its 2015 production guidance to be 710,000 ounces of gold, at average cash costs of $565 per ounce.
The outlook change comes as Greece decided earlier this month to let the company resume mining and construction work at Skouries, in northern Greece, which Eldorado’s flagship project.
“Our employees and contractors are now back at work on the Skouries and Olympias projects, and mining operations have resumed at Stratoni,” chief executive officer Paul Wright said in a statement.
The $3.4-billion market cap company also has presence in Romania, Turkey and China.
Shares in closed in Toronto at Cdn$4.85 Thursday, almost 5% down compared to Wednesday session. The stock has lost over 30% of its value so far this year.
Comments
rayban
Eldorado looks darn good if they can keep on swinging smart . Greece , ? looks like a liability to me , an incident waiting to happen . Eldorado made my list of 5 AU Stocks in January and is still on the conditional buy list . Not for future , for anytime soon . If they stay smart and expand in Canada and USA and Mexico , maybe even Burkina . If they get into stupid countries they shall get burned , maybe bad .
The majors look good farther out , Eldorado needs to expand their depth of time period and get projects just like their current ones only longer duration ie LOM longer . They may then appeal to a wider range of buyers . LOM in AU , I like 7 years and longer 12 to 15 is preffered but those are tougher to find . If Gold gets hot soon , I am taking more Eldorado .