Eldorado hails success despite Turkish court case
by Gill Montia

Eldorado Gold, the gold mining company with a presence in Turkey, China and Brazil, has issued a trading update.
The statement covers the company’s 2007 operating results and its anticipated 2008 production.
Kisladag Mine in Turkey produced 135,306 oz at a cash cost of $189 oz. Operations ceased in mid-August 2007 following a Turkish court order requiring the temporary closure of the mine.
However, the company expects mining to resume early this year and production for 2008 is estimated at 190,000 oz, at a cash cost of $222 oz.
Tanjianshan mine in China performed exceptionally well in 2007 with unit costs falling quarter-by-quarter. Production for the year totalled 138,162 oz, with unit cash costs at $291 oz. Production for 2008 is forecast at 109,000 oz with a cash cost of $289 oz.
Eldorado’s Sao Bento mine in Brazil ceased production in the second quarter of 2007, having provided 7,667 oz at cash operating cost of $208 oz. Work is continuing on reclamation projects and closure requirements.
The Efemcukuru project in Turkey is continuing to acquire land and construction activities are expected to commence early in the second quarter of 2008.
In presenting the update, Paul N Wright, Eldorado’s president and chief executive said: “Both Kisladag and Tanjianshan have established their ability to produce at rates consistent with expectations. We look forward to a timely and positive resolution of the Kisladag court case and a resumption of Eldorado’s growth.”
The company aims to produce 500,000 oz of gold per year by 2010.
Add to Bookmarks:
Related posts to: Eldorado hails success despite Turkish court case
Turkish court closes Eldorado’s Kisladag operations ...
Eldorado increases stake in Frontier to over 95% ...
Eldorado Gold commences Efemçukuru construction ...
Brazauro and Eldorado to partner on the TZ project ...
Sterling Mining 100% successful in Litigation ...
Latest Metals News:
Copper, aluminium prices climb as other base metals fall
Copper up in London; inventories fall, cancelled warrants rise
Copper gains on US jobs data, China comments
Copper up on weaker dollar
Copper prices climb after Chile quake
Metals prices mixed in New York, London
Gold down slightly in NY on stronger dollar
Copper prices up after last week’s declines
Copper, other metals continue price declines
Copper in big declines on economic concernsPrevious: « Allegiance upgrades Avebury nickel resource
Next: Copper lower on data »
Visited 3526 times, 5 so far today