Metals sell off after Trump win while oil recoups some losses
Metals bore the brunt of global commodity price losses after a US election win by Donald Trump on Wednesday.
Eldorado Gold (TSX: ELD; NYSE: EGO) expects its production profile to swell about 45% over the next four years to 703,250 oz. gold per year, president and CEO George Burns says.
The company comes off a solid 2023 operating performance, producing 7% more gold year-on-year at 485,000 oz. of metal at an all-in sustaining cost of about $1,200 per ounce. With the Skouries build in Greece having passed the 70%-completion mark, Burns tells The Northern Miner that increasing production is the vehicle for enhancing shareholder value.
“Bringing Skouries online not only lowers our cost, brings on some high-quality production (including copper in the EU), it positions us to generate a lot of free cash flow and return value via dividends,” Burns told The Northern Miner’s western editor, Henry Lazenby, during the recent Prospectors and Developers Association of Canada convention in Toronto.
Watch the full interview below.
