The following is a summary of the Eldorado Gold Corporation (EGO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Eldorado Gold reported Q2 2024 net earnings of approximately $56 million or $0.28 per share, highlighting a positive impact from higher gold prices.

• Adjusted net earnings for Q2 2024 were $66.6 million or $0.33 per share, considering non-recurring items.

• Operating activities generated around $132 million in cash flow, a significant increase from the previous year.

• Total cash costs and all-in sustaining costs were $940 per ounce and $1,331 per ounce sold respectively, reflecting increases primarily due to higher labor, contractor costs, and fuel prices.

Business Progress:

• Eldorado is on track with the Skouries Copper Gold Project, expecting first production in Q3 2025, with a current completion rate of 76% for the first phase.

• Continuous improvements and expansions are underway at Kisladag and other operational sites.

• Recent awards in health, safety, sustainability, and finance acknowledge Eldorado's operational excellence and commitment to sustainability.

Opportunities:

• Increased gold prices contributed to Eldorado's revenue and are expected to continue benefiting cash flow generation.

• Strategic investments in growth projects and infrastructure, including the Skouries development, are poised to bolster operational capacity and future output.

Risks:

• Eldorado faced operational disruptions due to labor strikes at Olympias, impacting production.

• Increased royalty expenses due to higher gold prices and inflation adjustments affected the all-in sustaining costs.

• Delay in finalizing labor contracts and the potential for further disruptions may pose risks to seamless operations.

More details: Eldorado Gold IR

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