Eldorado Gold Posted 34% Surge in 2020 Gold Output

SEATTLE (Scrap Monster): Vancouver, British Columbia-based Eldorado Gold Corporation announced its Q4 and full year 2020 preliminary production results. The company achieved its 2020 production guidance, amidst challenging conditions on account of Covid-19 pandemic.

According to company press release, the preliminary gold production during the entire previous year surged higher by 34% over 2019 to total 528,874 ounces of gold. The production fell within the company’s annual consolidated guidance of between 520,000 and 550,000 ounces. Meantime, the preliminary gold production for Q4 was up by 16% to 138,220 ounces, compared with the similar quarter of 2019.

The Lamaque mine’s preliminary gold output for 2020 exceeded guidance, despite a three-week shutdown induced by the Covid-19 pandemic restrictions. However, the robust performance at Lamaque was partially offset by the lower availability of labour at Kisladag mine.

George Burns, President and Chief Executive Officer, Eldorado noted that the company was able to deliver its production guidance amid a year of unprecedented external challenges, only due to the dedication and resilience of its employees.

Also, the company announced appointment of Steve Reid as Chair of the Board, in replacement of George Albino. Steve has been serving as a Director of the Eldorado Board since May 2013.

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