{"id":1167443,"date":"2020-02-24T13:02:55","date_gmt":"2020-02-24T19:02:55","guid":{"rendered":"https:\/\/www.mining.com\/?p=1014948"},"modified":"2020-02-24T13:02:55","modified_gmt":"2020-02-24T19:02:55","slug":"eldorado-revamps-kisladag-and-expects-over-450000-ounces-annually","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1167443","title":{"rendered":"Eldorado revamps Kisladag and expects over 450,000 ounces annually"},"content":{"rendered":"<p>Following last week\u2019s release of year-end results and five-year guidance from\u00a0Eldorado Gold (TSE: ELD), the intermediate-producer\u2019s stock soared over 30% in one day and breached eight-year highs.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Eldorado also announced a 15-year mine life at its Kisladag open pit operation in Turkey after completing long-cycle heap leach tests and replacing the tertiary crushing circuit with a high-pressure grinding roll (HPGR) circuit.<\/p>\n<p>\u201cKisladag has been a cornerstone asset of Eldorado for over a decade, producing over three million ounces of gold and generating significant value for all stakeholders during that period,\u201d George Burns, the company\u2019s president and CEO said in a release. <\/p>\n<p>\u201cFollowing the resumption of full operations last spring, and the significant work and testing undertaken by the Eldorado team over the past 18 months, we are pleased to announce a mine life extension at Kisladag that puts this asset back in the core of our portfolio.\u201d<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> This year, the company expects to produce 520,000 ounces to 550,000 ounces <\/p>\n<\/blockquote>\n<\/figure>\n<p>This year, the company expects to produce 520,000 ounces to 550,000 ounces at AISCs of $850 to $950 per ounce. Over the next five years, it anticipates production from its four operating mines to average over 450,000 ounces. <\/p>\n<p>Last year, the Eldorado\u2019s gold output was at 395,331 ounces at AISCs of $1,034 per ounce with $150.6 million in cash flow generated from operating activities, before changes in working capital.<\/p>\n<p>Increased leach time with HPGR appears to increase heap leach recoveries at Kisladag to 56% with an updated average annual gold production expected at 160,000 ounces at AISCs of $800 to $850 per ounce.<\/p>\n<p>Over the next five years, Kisladag and the underground Lamaque mine in Quebec, which declared commercial production last March, appear to be the largest gold contributors. <\/p>\n<p>Eldorado also operates the underground Efemcukuru mine in western Turkey and the Olympias gold-silver-lead-zinc mine in northern Greece.<\/p>\n<p>In addition to its gold-producing operations, in Greece, Eldorado holds the Skouries and Perama Hill projects which are currently on care and maintenance: Skouries was placed on care and maintenance at the end of 2018 due to ongoing permitting delays.<\/p>\n<p>In January, Eldorado announced\u00a0the discovery of the Ormaque zone at its Lamaque operation.<\/p>\n<p><em>(This story first appeared at the <a href=\"http:\/\/www.canadianminingjournal.com\/news\/gold-eldorado-revamps-kisladag-circuit-expects-over-450000-oz-annually\/\">Canadian Mining Journal<\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This year, the company expects to produce 520,000 ounces to 550,000 ounces.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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