The following is a summary of the Eldorado Gold Corporation (EGO) Q1 2024 Earnings Call Transcript:
Financial Performance:
Eldorado Gold Corporation reported net earnings attributable to shareholders from continuing operations of $35.2 million, or $0.17 per share in Q1 2024.
The adjusted net earnings reached $55.2 million, or $0.27 per share.
The company revealed a decrease in current tax expense from $20.5 million to $12.4 million, when compared to the same period in 2023.
The company faces inflationary pressure due to increased fuel and labor costs across its operations.
Business Progress:
The company remains on track with its guidance to produce between 505,000 and 555,000 ounces of gold for 2024.
Skouries copper-gold project's detailed engineering has reached 67% completion, with initial commissioning expected in early 2025.
The company is implementing measures to mitigate labor shortages at Lamaque mine and plans to launch initiatives to attract more diverse talent, including women and young graduates from Latin America.
The company is working with local communities in Quebec to solve housing challenges to attract more workforce.
More details: Eldorado Gold IR
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