{"id":513379,"date":"2017-06-28T17:03:08","date_gmt":"2017-06-28T17:03:08","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=513379"},"modified":"2017-06-28T17:03:08","modified_gmt":"2017-06-28T17:03:08","slug":"eldorado-gold-risks-missing-2017-guidance-over-issues-with-turkish-mine-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=513379","title":{"rendered":"Eldorado Gold risks missing 2017 guidance over issues with Turkish mine"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Canada’s Eldorado Gold (TSX:ELD) (NYSE:EGO) may miss its 2017 guidance by as much as 25% due to leaching problems at its K\u0131\u015flada\u011f mine in Turkey, one of its largest operations.<\/p>\n

The Vancouver-based company said late Tuesday<\/a> that K\u0131\u015flada\u011f is now expected to produce 180,000-210,000 ounces of gold this year. Incorporating that revised guidance, the miner’s group expected output would be 315,000-365,000 ounces, down from the original 365,000-400,000 ounces forecast.<\/p>\n

It now expects to produce at least 180,000-210,000 ounces of gold this year at K\u0131\u015flada\u011f, down from the previous 2017 mine production guidance of 230,000-245,000.<\/p>\n

Shares in the company were hit hard by the news. They fell 4.9% Wednesday to Cdn$3.53 in mid-morning trading in Toronto and were last trading 3.9% lower in New York to $2.71. Other larger gold miners were also falling today.<\/p>\n

\u201cWhile Kisladag’s decrease in production for the year is disappointing, our team has implemented a strategy to return our cornerstone asset to normalized production levels,\u201d the company’s President and CEO, George Burns, said in a statement<\/a>.<\/p>\n

He noted that the ounces the company may miss in 2017 are expected to be produced in the first half of 2018.<\/p>\n

As a result, Eldorado Gold upped its outlook for next year and now expects to generate about 320,000 to 335,000 ounces at cash costs of $425 to 475 per ounce, compared to previous guidance of 285,000 ounces.<\/p>\n

The potential miss in the current fiscal year could have consequences on the company’s ongoing acquisition of Integra Gold <\/a>(TSX-V:ICG), as the fellow Canadian miner’s shareholders are set to vote next week whether they approve the takeover.<\/p>\n

Eldorado has gone through major shifts in the past year, including the sale of all its Chinese assets<\/a> in 2016 and a change of leadership<\/a> with the appointment of one of Goldcorp’s top executives as CEO.<\/p>\n

Early this year, the company announced it had indefinitely shelved expansion plans<\/a> for its K\u0131\u015flada\u011f mine, Turkey’s largest gold operation.<\/p>\n

It also deferred a decision on developing a project in Brazil, citing low gold prices.<\/p>\n

Eldorado is set to release results for the second quarter<\/a> at the end of July.<\/p>\n

The post Eldorado Gold risks missing 2017 guidance over issues with Turkish mine<\/a> appeared first on MINING.com<\/a>.<\/p>\n

\u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post <\/a>Eldorado Gold risks missing 2017 guidance over issues with Turkish mine<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Cecilia Jamasmie Canada’s Eldorado Gold (TSX:ELD) (NYSE:EGO) may miss its 2017 guidance by as much as 25% due to leaching problems at its K\u0131\u015flada\u011f mine in Turkey, one of its largest operations. The Vancouver-based company said late Tuesday that K\u0131\u015flada\u011f is now expected to produce 180,000-210,000 ounces of gold this year. Incorporating […]<\/p>\n","protected":false},"author":1,"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":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/513379"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=513379"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/513379\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=513379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=513379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=513379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}