Why Eldorado Gold stock is up today

El Dorado Gold's mine near Certej, Romania
Gold mine at Certej, Romania

By Shawn Ingram
The Street

Eldorado Gold gained 2.2% to $6.04 Tuesday after providing an update on its Deva Gold SA Certej project in Romania.

The gold producer announced it expects the project to produce 135,000 ounces of gold and 800,000 ounces of silver per year, assaying about 15% gold and 85% silver. Overall recovery of the precious metals from the Certej ore via the pressure oxidation process will be 87.4% for gold and 80% for silver.

Eldorago Gold believes it can exploit other resources in the region and use Certej as a platform to develop more business in Romania and Eastern Europe.

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