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.
- Tweet this
- Share this
- Digg this