eldorado gold corp (EGO) Key Developments
Eldorado Gold Corporation Declares Eligible Dividend for the Year of 2014, Payable on February 16, 2015; Reports Operating Results for the Fourth Quarter and Full Year of 2014; Provides Earnings and Production Guidance for 2015
Jan 20 15
Eldorado Gold Corporation declared that it will pay an eligible dividend of CAD 0.01 per common share on February 16, 2015 to the holders of the company's outstanding shares as of close of business on the record date of February 2, 2015.
The company reported operating results for the fourth quarter and full year of 2014. For the fourth quarter, the company produced total gold of 199,572 ounces.
For the full year of 2014, the company produced total gold of 789,224 ounces.
For the year 2015, the company expects to produce 640,000-700,000 ounces of gold. The company provides earnings guidance for 2015. Sustaining capital for gold mining operations in 2015 is estimated to be approximately $165 million, of which approximately $65 million is associated with sustaining production in years subsequent to 2015. Depreciation, depletion and amortization expense is expected to be approximately $260 per ounce of gold sold, subject to the company completing its year end 2014 reserve and resource calculation.
Eldorado Gold Corporation Presents at CIBC 18th Annual Institutional Investor Conference, Jan-22-2015 09:10 AM
Jan 9 15
Eldorado Gold Corporation Presents at CIBC 18th Annual Institutional Investor Conference, Jan-22-2015 09:10 AM. Venue: The Fairmont Chateau, 4599 Chateau Boulevard, Whistler, British Columbia, Canada. Speakers: Paul N. Wright, Chief Executive Officer and Director.
Eldorado Gold Seeks Buyer For China Mines
Nov 5 14
Eldorado Gold Corp. (TSX:ELD) is seeking a buyer for its mines in China, people with knowledge of the matter said. It is seeking CAD 1.5 billion. Zijin Mining Group Co. Ltd. (SEHK:2899), Zhaojin Mining Industry Co. Ltd. (SEHK:1818), Jiangxi Copper Company Limited (SEHK:358) and China National Gold Group Corp. have shown interest.
Eldorado Hires Bank of America For IPO
Nov 5 14
Eldorado Gold Corp. (TSX:ELD) hired Bank of America Corp. for an Hong Kong IPo of Chinese business. It plans to seek about CAD 250 million if the listing plans move forward, a person familiar with the matter said. It aims to submit an application to Hong Kong’s stock exchange in 2015, according to the person. At the same time its seeking buyer for sale of its China mines.
Eldorado Gold Corp. Reports Unaudited Consolidated Earnings and Operational Results for the Third Quarter and Nine Months Ended September 30, 2014
Oct 30 14
Eldorado Gold Corp. reported unaudited consolidated earnings and operational results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income attributable to shareholders of the company of USD 19.8 million or USD 0.03 per diluted share compared with USD 36.4 million or USD 0.05 per diluted share in the third quarter of 2013. Net income was impacted by a non-cash USD 7.6 million iron ore inventory write-down related to Vila Nova. Gold revenues of USD 241.2 million were 9% lower year over year due to lower gold prices and ounces sold. Adjusted net earnings were USD 36.1 million or USD 0.05 per share compared with USD 54.4 million or USD 0.08 per share in the third quarter of 2013. Metal sales were USD 263.51 million compared to USD 287.254 million for the same period of last year. Operating profit was USD 64.043 million compared to USD 98.061 million for the same period of last year. Profit before income tax was USD 60.435 million compared to USD 76.482 million for the same period of last year. Net cash provided by operating activities was USD 92.2 million compared to USD 120.26 million reported a year ago. Purchase of property, plant and equipment was USD 102.76 million compared to USD 119.05 million reported a year ago.
For the nine months, metal sales were USD 808.877 million compared to USD 892.251 million for the same period of last year. Operating profit was USD 209.529 million compared to USD 312.386 million for the same period of last year. Profit before income tax was USD 188.035 million compared to USD 272.547 million for the same period of last year. Profit attributable to shareholders of the company was USD 88.691 million compared to USD 34.221 million for the same period of last year. Diluted earnings per share were USD 0.12 compared to USD 0.05 for the same period of last year. Adjusted net earnings were USD 109.2 million compared with USD 186.0 million reported a year ago. Net cash provided by operating activities was USD 224.46 million compared to USD 308.81 million reported a year ago. Purchase of property, plant and equipment was USD 291.10 million compared to USD 336.82 million reported a year ago.
For the quarter, the company reported gold production of 192,578 ounces (including Olympias production from tailings retreatment) compared to 204,620 ounces reported a year ago.
For the nine months, the company reported gold production of 589,652 ounces compared to 552,359 ounces reported a year ago.