Edorado Gold increases guidance

Eldorado Gold (TSX:ELD) said today that gold production totaled 125,459 ounces in Q3 2021, a decrease of 8% from Q3 2020 production of 136,922 ounces driven by a planned shift to lower-grade ore at Kisladag.

Overall, production was better than expected.

"Gold production in the quarter increased 8% over Q2 2021. As a result of strong production in the first nine months of 2021, primarily due to operational improvements at Kisladag," said the company. "Eldorado will increase its 2021 annual production guidance by approximately 6% to 460,000-480,000 ounces of gold."

The average realized price of gold was down from a year ago, $1,769 oz compared to $1,919 oz.

Free cash flow from continuing operations was $29.7 million compared to $114.7 million in Q3 2020.

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania and Brazil.

By Michael McCrae

For Kitco News

Follow michaelmccraemmccrae@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold