{"id":1199203,"date":"2020-07-31T11:11:02","date_gmt":"2020-07-31T16:11:02","guid":{"rendered":"https:\/\/www.mining.com\/?p=1031428"},"modified":"2020-07-31T11:11:02","modified_gmt":"2020-07-31T16:11:02","slug":"eldorado-bumps-up-free-cash-flow-on-higher-gold-price","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1199203","title":{"rendered":"Eldorado bumps up free cash flow on higher gold price"},"content":{"rendered":"

Eldorado Gold (NYSE: EGO, TSX: ELD) reported<\/a> significant increase in free cash flow, with $63.4 million in Q2 2020, up 780% from $7.2 million in Q1 2020, as a result of higher sales volume and a higher gold price<\/a>.<\/p>\n

The company net earnings were $45.6 million or $0.27 per share, up compared to net earnings of $12.2 million, or $0.08 per share reported in the second quarter of 2019.<\/p>\n

Adjusted net earnings came in at $43.8 million, or $0.26 per share, up from an adjusted net loss of $3.5 million, or $0.02 loss per share reported last year.<\/p>\n

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\u201cWe see several positive catalysts on the horizon, including further success in Turkey and continued growth in Greece and Quebec.\u201d<\/p>\n

George Burns, eldorado President and CEO<\/cite><\/p><\/blockquote>\n<\/figure>\n

Eldorado reported gold production of 137,782 ounces in Q2 2020, an increase of 50% from Q2 2019, and a 19% increase over Q1 2020.\u00a0 <\/p>\n

The company is maintaining its 2020 annual guidance of 520,000-550,000 ounces of gold at an all-in sustaining cost of $850-950 per ounce sold.<\/p>\n

\u201cOur outstanding operational performance during the quarter positions us to continue to generate significant value for our stakeholders.\u00a0Even while managing covid-19, we achieved strong quarterly production while seeing lower all-in sustaining costs,\u201d said George Burns, President and CEO.<\/p>\n

\u201cWe see several positive catalysts on the horizon, including further success in Turkey and continued growth in Greece and Quebec.\u201d<\/p>\n

Midday Friday, Eldorado\u2019s stock was up 5.2% on the NYSE. The company has a $2.1 billion market capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"

Company reported significant increase in free cash flow, with $63.4 million in Q2, up 780% from $7.2 million in Q1 2020.<\/p>\n","protected":false},"author":110,"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 center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1199203"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1199203"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1199203\/revisions"}],"predecessor-version":[{"id":1199257,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1199203\/revisions\/1199257"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1199203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1199203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1199203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}