EGO - Eldorado Gold prelim 2022 production falls below bottom end of forecast

• Eldorado Gold ( NYSE: EGO ) has reported that Q4 production was strong across all assets, in line with the company’s expectation of a stronger second half of 2022.
• The Canadian gold miner produced 128,453 oz. in the period, bringing preliminary gold production for the year to 453,916 oz. Howver, full year preliminary production was just below the bottom end of the guidance range.
• Fourth quarter gold production the Lamaque mine grew 20% over the third quarter, mainly driven by higher grade and increasing throughput performance at the mill. The Canadian mine delivered record annual production, a 14% increase over 2021.
• Kisladag mine in Turkey showed 7% sequential growth in Q4 production driven by  an increase in tons placed on the pad during the third quarter. However, full year production results were lower than planned, mainly attributable to lower tons stacked as a result of weather and COVID-absenteeism challenges in early 2022.
• Olympias gold production was relatively flat quarter over quarter, while 2022 production was lower than planned due to lower-than-expected tons processed and availability of ore stopes.

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