Eldorado Gold Corporation Reports Preliminary Production Results for the Fourth Quarter and Full Year 2016; Provides Production and Capital Expenditure Guidance for the Year 2017
For the year, the company reported Gold production of 485,994 ounces (including production from discontinued Chinese operations and tailings retreatment); slightly lower than the revised third quarter guidance of 495,000 ounces.
For the year 2017, the company expects gold production of 365,000 to 400,000 ounces, in addition to substantial by-product credits from Olympias Phase II production. All-in sustaining cash costs expected to remain low at $845 to 875 per ounce and cash operating costs expected to decline significantly, averaging $485-535 per ounce.
For the year 2017, the company expects capital expenditure of $425 million.