(AGENPARL) - Roma, 5 Dicembre 2022 - (AGENPARL) – lun 05 dicembre 2022 [Eldorado Logo]
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Eldorado Gold Corporation has added a new press release to its web site. For full details please visit the Eldorado Gold Corporation web site at:
VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) — Eldorado Gold Corporation (“Eldorado” or “the Company”) today releases its updated Mineral Reserve and Mineral Resource (“MRMR”) estimates as of September 30, 2022.
The Company’s total MRMR is adjusted for the planned divestment of its non-core Romanian asset (Certej), which is consistent with the Company’s strategy of focusing on core jurisdictions in its portfolio.
Mineral Reserves Update
Net of divestitures, the Company’s Proven and Probable gold Reserves (“2P Reserves”), totalled 12.3 million ounces as of September 30, 2022(1), a decrease of approximately 4% from the previous MRMR statement as of September 30, 2021. Excluding depletion, the 2P Reserves year over year remained relatively flat. The complete table of Mineral Resources and Mineral Reserves can be found at the end of this release.
() See “Mineral Reserve Notes” below.
Total 2P Reserves
(Gold Ounces x 1,000)
Proven and Probable in-situ gold ounces as of September 30, 2021 15,264
Depletion(1) -597
Adjustments for metal prices, cut-off value and mine plan optimization 46
Net Proven and probable in-situ gold ounces as of September 30, 2022 14,714
Certej Divestment(2) -2,402
Proven and probable in-situ gold ounces as of September 30, 2022 12,312
NOTE: Numbers may not down-add due to rounding.
(1) Depletion declared here are in-situ ounces. Depletion includes Q4 2021 and Q1-Q3 2022.
(2) In October 2022, Eldorado entered into an agreement to sell the Certej project, a non-core asset. The transaction is expected to close in Q1 2023.
Net of divestitures, and excluding depletion, the small change in Proven and Probable Reserves is attributable to conversion of Resources to Reserves in the Kokarpinar zone at Efemcukuru and infill drilling in the Upper Triangle zone at Lamaque. These gains were mostly offset by adjustments for cut-off value, metal prices and mine plan optimization at Olympias.
The following table summarizes the year-over-year changes to the Company’s gold Reserves:
Proven and Probable Reserves
Change excluding depletion
Contained Au Oz (x1,000)
Efemcukuru 620 542 -13 % 4 %
Kisladag 4,282 4,069 -5 % 0 %
Lamaque 1,091 985 -10 % 7 %
Olympias 1,990 1,836 -8 % -3 %
Perama Hill 1,250 1,250 – –
Skouries 3,630 3,630 – –
Certej 2,402 0 -100 % –
Total 15,264 12,312 -19 % -15 %
Less divestitures:(2)
Certej 2,402 –
Gross Total 12,862 12,312 -4 %