Eldorado Gold FY Gold Production Declines

(RTTNews) - Canadian low-cost gold producer Eldorado Gold Corp. (ELD.TO, EGO) Monday announced Gold production of 169,732 ounce for the fourth quarter, while it realized $1,104 per ounce. Cash cost per ounce was $567 per ounce.

For the full year the company produced gold of 723,532 ounce at a cash cost of $552 per ounce. In the prior year, it has reported 789,224 ounces.

Looking ahead to 2016, Eldorado Gold expects gold production of 565,000-630,000 ounces of gold at an average cash cost ranging between $585-620 per ounce, and an all-in sustaining cash cost between $940-980 per ounce.

Paul Wright, president and chief executive officer said, "Looking at Eldorado's long-term plan, the Company remains committed to its portfolio of Greek assets and the realizable benefits to all of the stakeholders involved. Our operations in Turkey and China remain on track and on budget to continue operating for years to come. Finally, we will continue to slowly advance our development projects in Brazil and Romania, while remaining financially prudent in today's challenging metal price environment."