Eldorado Gold (TSX: ELD) last night reported its preliminary production results for the second quarter of 2022. The company appears to remain on track for its previously issued 2022 production guidance of 460,000 to 490,000 ounces.
Gold production for the quarter amounted to 113,462 ounces on a preliminary basis, versus 93,209 ounces in the first quarter. Production was however down slightly on a year over year basis from 116,066 ounces in 2021.
Year to date the company has produced 206,671 ounces of gold across its four mining operations, indicating that production will need to scale in the second half of the year to meet the annual guidance figure. Production is expected to pickup at its Kisladag operation, where performance is expected to be “weighted to the second half of the year,” while the firms Greek mine, Olympias, is expected to continue to ramp up productivity as well.
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Full financial results for the second quarter are expected to be released after the close of markets on July 28.
Eldorado Gold last traded at $7.40 on the TSX.
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