January 9, 2013 / 12:51 PM / in 5 years

UPDATE 1-Eldorado sees higher gold output in 2013

Jan 9 (Reuters) - Eldorado Gold Corp said on Wednesday it will boost gold output by 7 percent to 10 percent in 2013, as it ramps up production at its Efemcukuru mine in Turkey.

The Vancouver-based miner also said full-year 2012 gold output was in line with its forecast, through cash costs were higher due to start-up issues at Efemcukuru.

Eldorado produced 659,369 ounces of gold in 2012, just short of its mid-year forecast of 660,000 ounces. Cash costs climbed to $489 per ounce, above its $465 per ounce estimate.

The higher costs were attributed to one-time start-up issues at Efemcukuru. The company projects lower costs at the Turkish mine in 2013.

Eldorado plans to produce 705,000 to 760,000 ounces in 2013, on cash costs of $510-$503 per ounce.

The company also declared a dividend of 7 Canadian cents a share, to be paid on Feb. 14.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below