RE:Eldoradoblue
I know anything can happed with Eldorado as they own 13% of integra, but when theyhosted their Analyst Day,
"where the plans for continued sustainable growth, comprehensive technical sessions, an exploration program review, and an outlineof its 2020 financial and operational targets are to be presented. "
there was no mention of Integra !
Not to say Eldorado will not "come calling" ,,, my money is on AEM or G !
This is the latest news today from the Globe !
"Globe says Rollins maintains Eldorado at "outperform"""
2016-09-27 08:42 ET - In the News
The Globe and Mail reports in its Tuesday edition that RBC Dominion Securities analyst Dan Rollins says Eldorado Gold's fundamentals will be amongst the industry's best if it is able to deliver on its development plans. The Globe's David Leeder writes in the Eye On Equities column that Mr. Rollins says the company's recent investor day "substantially improved the level of detail and disclosure around the company's key growth projects." Maintaining his "outperform" rating, Mr. Rollins did lower his target by $1 to $7. Analyst on average target the shares at $5.78. Mr. Rollins says in a note: "Should the development of Olympias and Skouries continue unimpeded, Eldorado's gold production would be backed by a portfolio of five mines with an average reserve life of 18 years, significantly higher than the industry average of 10 years. Revenues would also be backed by lower cost operations with the average mine-site sustaining cash cost of Eldorado's mines/projects estimated at $555 (U.S.) per ounce at spot metal prices/currencies, which would place Eldorado towards the bottom end of the industry cost curve." Mr. Rollins kept Eldorado at "outperform" in the Eye column on Aug. 26. It was then worth $4.60.
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Eldorado Provides Updated Outlook
Sep 07, 2016
Download this Press Release (PDF 166 KB)
TSX: ELD NYSE: EGO
VANCOUVER, Sept. 7, 2016 /CNW/ - Eldorado Gold Corporation, ("Eldorado" or "the Company") is hosting an Analyst Day, where the plans for continued sustainable growth, comprehensive technical sessions, an exploration program review, and an outline of its 2020 financial and operational targets are to be presented. Eldorado remains focused on its four strategic pillars: quality assets, operational excellence, accountability, and capital discipline.
Highlights of the topics to be presented today include:
Turkey: Kisladag Expansion
Plans to proceed with the expansion to crush 20 million tonnes a year (from the current 12.5 million tonnes per year).
With completion forecasted in 2018, the Company expects to produce between 310,000 – 320,000 ounces of gold per year through 2020 at average cash costs of $490 per ounce.
Remaining capital for the expansion is budgeted at $63 million, to be spent over a two year implementation period.
Greece: Olympias:
Parameters around Phase 2, targeting initial production in the first quarter 2017. Production during this Phase will average approximately 72,000 ounces of gold, with cash costs during the first full five years expected to range between $180 and $350 due to significant by-product credits.
The capital cost associated with the final stages of Phase 2 construction are estimated at $101 million.
Parameters around Phase 3 are under development with the engineering ongoing.
Greece: Skouries
Decision to develop Skouries in a two phased approach.
Phase 1: a combination of open pit and underground mining over 9 years, producing a total of 1.4 million ounces of gold and 620 million pounds of copper (or 2.8 million gold equivalent ounces), at average cash costs of -$255 per ounce due to the copper by-product credits. Total development capital over the life of this phase is budgeted at $710 million and includes all mine development and process facilities.
Phase 2: preliminary analysis shows underground mining over the next 15 year period once Phase 1 is complete. Total gold production during this phase is expected to be an additional 1.7 million ounces, at average cash costs of $165 per ounce due to the copper by-product credits. Total development capital over the life of this phase is expected to be approximately $460 million.
Brazil: Tocantinzinho
Average annual gold production is planned at approximately 170,000 ounces at cash costs of approximately $535 per ounce, with initial production planned for 2019. Total development capital costs are estimated at $464 million and conditional upon Eldorado Board of Directors approval, construction will commence in 2017.
Financial Outlook
The Company's financial flexibility is expected to grow, with over $1 billion in total liquidity expected for year-end 2016 post the close of the previously announced Chinese asset sale transactions. The Company's approach to capital investments remains prudent, and the funds are currently being allocated to the robust internal growth pipeline.
2017 Outlook
Mine
Production (Au oz)
Cash Costs
($/oz)
Sustaining Capital
Expenditure ($M)
Kisladag
240,000 – 265,000
$450 – 500
$50 - 60
Efemcukuru
95,000 - 105,000
$525 – 575
$15 – 20
Olympias
40,000 - 50,000
$425 - 475
$15 – 20
Total
375,000 - 420,000
$450 - 500
$80 - 100
2017 Capital Expenditure
($M)
Kisladag Development
$35 - 45
Skouries Development
$240 - 260
Tocantinzinho Development
$95 - 105
Olympias Development
$30-40
Certej Development
$10 - 15
Stratoni
$10 – 15
Total Development
$420-480
Total Capitalized Exploration
$10
Total Sustaining
$80-100
Total Capital Budget
$500-580
2020 Targets
Gold production is expected to increase by 110% over 2017 totals (approximately 400,000 ounces of gold) to over 830,000 ounces in 2020.
All-in sustaining cash costs to decline to under $650 per ounce.
Assumptions
Long term outlook assumes $1,300 per ounces gold, $18.00 per ounce silver, $6,000 per tonne copper, $2,000 per tonne lead, $2,000 per tonne zinc.
Rates to the US$: 2.9 TRL; 3.75 BRL; 1.15 EU; 1.25 CAD.
About Eldorado Gold
Eldorado is a leading low cost gold producer with mining, development and exploration operations in Turkey, China, Greece, Romania, Serbia and Brazil. The Company's success to date is based on a low cost strategy, a highly skilled and dedicated workforce, safe and responsible operations, and long-term partnerships with the communities where it operates. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO)
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