Proactiveinvestors recommends
Additional Information
Market: TSX NYSE
Sector: Gold Mining
EPIC: ELD
Latest Price: 11.12  (1.14% Ascending)
52-week High: 21.50
52-week Low: 10.38
Market Cap: 7,910.50M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Eldorado Gold
www.eldoradogold.com

Eldorado Gold Corporation is a gold mining company actively growing businesses in Brazil, China, Turkey, Greece, and surrounding regions. Eldorado Gold is one of the lowest cost pure gold producers, and anticipates production of 700,000 ounces of gold per annum by 2013.

Full Eldorado Gold profile here
Pdf

Eldorado Gold's fourth quarter profits rise on strong gold sales

18th Feb 2011, 10:30 am by Deborah Sterescu
Eldorado's gold output to increase further in 2011, as Efemcukuru and Eastern Dragon mines begin production Eldorado's gold output to increase further in 2011, as Efemcukuru and Eastern Dragon mines begin production

Gold producer Eldorado Gold Corp (TSE: ELD)(NYSE: EGO)(ASX: EAU) reported Friday that it increased its fourth quarter earnings by 31% on higher gold sales and prices.

For the fourth quarter, the company, with operations in Turkey, China, Brazil and Greece, posted net income of $43.6 million, or $0.08 per share, compared to $33.3 million, or $0.08 per share, in the prior year period.

Total revenue jumped 47% year-over-year to $212.9 million. Eldorado sold 149,022 ounces of gold  at an average price of $1,373 per ounce, up from 131,068 ounces at an average price of $1,103 per ounce in the fourth quarter of 2009.

The company increased gold production by 15% year-over-year to 148,374 ounces of gold in the fourth quarter of 2010,  at a total cash cost of $460 per ounce.

Eldorado said that it anticipates first production from both its Efemcukuru and Eastern Dragon mines, located in Turkey and China, respectively, in 2011.

The company generated $83.0 million of cash, or $0.15 per share from operating activities in the fourth quarter - an increase of 40% from the prior year period.

Eldorado was up more than 1.3% on the New York Stock Exchange on Friday, trading at $17.32 as of 10:29am EST.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.