Eldorado Gold Corp 6-K, filed May 28, 2021
Eldorado Gold Corp (EGO)
About this 6-K
Eldorado Gold Corp filed this 6-K on May 28, 2021.
FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of May 28, 2021
Commission File Number 001-31522
| Eldorado Gold Corporation<br><br>(Translation of registrant's name into English) |
|---|
| 1188-550 Burrard Street<br><br><br>Bentall 5<br><br><br>Vancouver, B.C.<br><br><br>Canada V6C 2B5<br> (Address of<br>principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F [ ] Form 40-F [X]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ELDORADO GOLD CORPORATION | ||
|---|---|---|
| Date:<br>May 28, 2021 | By: | /s/ Karen Aram |
| Karen<br>Aram, Corporate Secretary |
Exhibits
| Exhibit<br>No. | Description |
|---|---|
| 99.1 | 2020 ESTMA<br>Report |
2
ego_ex991
Exhibit 99.1
| Extractive Sector Transparency Measures Act - Annual<br>Report | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Reporting Entity Name | Eldorado<br>Gold Corporation | ||||||||
| Reporting Year | From | 1/1/2020 | To: | 12/31/2020 | Date submitted | 5/26/2021 | |||
| Reporting Entity ESTMA Identification Number | E919377 | ||||||||
| Other Subsidiaries Included (optional field) | |||||||||
| For Consolidated Reports - Subsidiary Reporting Entities Included<br>in Report: | Eldorado<br>Gold (Quebec) Inc (ID: E558445) | ||||||||
| Not Substituted | |||||||||
| Attestation by Reporting Entity | |||||||||
| In accordance with the requirements of the ESTMA, and in particular<br>section 9 thereof, I attest I have reviewed the information<br>contained in the ESTMA report for the entity(ies) listed above.<br>Based on my knowledge, and having exercised reasonable diligence,<br>the information in the ESTMA report is true, accurate and complete<br>in all material respects for the purposes of the Act, for the<br>reporting year listed above. | |||||||||
| Full Name of Director or Officer of Reporting Entity | Philip Yee | Date | 5/25/2021 | ||||||
| Position Title | Executive VP and Chief Financial Officer | ||||||||
| Extractive Sector Transparency Measures Act -<br>Annual Report | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Reporting Year | From: | To: | 12/31/2020 | ||||||
| Reporting Entity Name | Eldorado<br>Gold Corporation | Currency of the Report | |||||||
| Reporting Entity ESTMA Identification Number | E919377 | ||||||||
| Subsidiary Reporting Entities (if necessary) | Eldorado<br>Gold (Quebec) Inc (ID: E558445) | ||||||||
| Payments by Payee | |||||||||
| Country | Payee Name | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes |
| Turkey | Federal Government of the Republic of Turkey | 42,600,000 | 7,120,000 | 7,290,000 | 57,010,000 | Payments to Kavaklidere Tax Office, General Directorate of Mining<br>and Oil Affairs, Ministry of Justice, Regional Directorate of<br>Forestry, Baskent Tax Office, Ulubey Tax Office, Yegenbey Tax<br>Office<br><br><br><br><br><br>Payments made in TRY, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>7.2. See also Note 1 below. | |||
| Turkey | Menderes Municipal Government | 160,000 | 160,000 | Payments made in TRY, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>7.2. | |||||
| Turkey | Ulubey Municipal Government | 190,000 | 190,000 | Payments made in TRY, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>7.2. | |||||
| Turkey | Usak Municipal Government | 190,000 | 190,000 | Payments made in TRY, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>7.2. | |||||
| Canada | Municipality of Val-d'Or | 200,000 | 200,000 | Payments made in CDN, converted to USD at the exchange rate at the<br>date of the individual payment. The average exchange rate for the<br>period was 1.34. | |||||
| Canada | Government of Quebec | 10,740,000 | 10,740,000 | Payments to Revenu Quebec and the Commission Scolaire de<br>l'Or-et-des-Bois.<br><br><br><br><br><br>Payments made in CDN, converted to USD at the exchange rate at the<br>date of the individual payment. The average exchange rate for the<br>period was 1.34. | |||||
| Greece | Federal Government of Greece | 5,070,000 | 2,340,000 | 7,410,000 | Payments made in EUR, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>1.13. See also Notes 2 and 3 below. | ||||
| Romania | Certej Municipal Government | 140,000 | 140,000 | Payments<br>made in RON, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>4.2. | |||||
| Romania | Federal Government of Romania | 480,000 | 480,000 | Payments to the Ministry of Public Finance, Ministry of Agriculture<br>and Rural Development and the National Agency for Mineral<br>Resources.<br><br><br><br><br><br>Payments made in RON, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>4.2. | |||||
| Brazil | Federal Government of Brazil | 230,000 | 230,000 | Payments to the National Historical and Archaeological Heritage<br>Institute and the Chico Mendes Institute for Biodiversity<br>Conservation. See also Note 4 below.<br><br><br><br><br><br>Payments made in BRL, converted to USD at the exchange rate of the<br>individual payment. The average exchange rate for the period was<br>5.2. | |||||
| Additional Notes: | 1.<br>Taxes of 73,880,000 were paid to the Federal Government of the<br>Republic of Turkey of which 31,280,000 were paid through offset of<br>VAT refundable and 42,600,000 was paid in cash.<br><br>2.<br>Taxes of 7,570,000 were paid to the Greek State of which<br>2,500,000 was paid through offset of VAT and other amounts<br>refundable and 5,070,000 was paid in cash. Taxes were paid<br>primarily to appeal tax audits and are refundable in the event<br>appeals are successful.<br><br>3.<br>Royalties of 4,250,000 were paid to the Greek State of which<br>1,910,000 was paid through offset of VAT and other amounts<br>refundable and 2,340,000 was paid in cash.<br><br>4. Fees<br>include a 31,000 vehicle purchased and donated<br>in-kind. |
All values are in US Dollars.
| Extractive Sector Transparency Measures Act - Annual<br>Report | ||||||||
|---|---|---|---|---|---|---|---|---|
| Reporting Year | From: | To: | 12/31/2020 | |||||
| Reporting Entity Name | Eldorado<br>Gold Corporation | Currency of the Report | ||||||
| Reporting Entity ESTMA Identification Number | E919377 | |||||||
| Subsidiary Reporting Entities (if necessary) | Eldorado<br>Gold (Quebec) Inc (ID: E558445) | |||||||
| Payments by Project | ||||||||
| Country | Project Name | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Total Amount paid by Project | Notes |
| Turkey | Kisladag | 3,770,000 | 5,840,000 | 9,760,000 | Note 1 | |||
| Turkey | Efemcukuru | 3,510,000 | 1,270,000 | 4,840,000 | Note 1 | |||
| Turkey | Ankara Office | 560,000 | 42,950,000 | Note 1 | ||||
| Canada | Lamaque Operations | 10,940,000 | Note 2 | |||||
| Greece | Olympias | 1,490,000 | 1,490,000 | Note 3 | ||||
| Greece | Stratoni | 770,000 | 770,000 | Note 3 | ||||
| Greece | Skouries | 60,000 | 60,000 | Note 3 | ||||
| Greece | Perama Hill | 20,000 | 30,000 | Note 3 | ||||
| Greece | Kassandra Mines | 5,060,000 | Note 3 | |||||
| Romania | Certej | 140,000 | 620,000 | Note 4 | ||||
| Brazil | Tocantinzinho | 200,000 | 200,000 | Note 5 | ||||
| Brazil | Vila Nova | 30,000 | 30,000 | A $31,000 vehicle was purchased and donated in-kind. | ||||
| Additional Notes: | 1. Payments made in TRY, converted to at the exchange rate at<br>the date of the individual payment. The average exchange rate for<br>the period was 7.2.<br><br><br>2. Payments made in CDN, converted to at the exchange rate at<br>the date of the individual payment. The average exchange rate for<br>the period was 1.34.<br><br><br>3. Payments made in , converted to at the exchange rate at<br>the date of the individual payment. The average exchange rate for<br>the period was 1.13.<br><br><br>4. Payments made in RON, converted to at the exchange rate at<br>the date of the individual payment. The average exchange rate for<br>the period was 4.2.<br><br><br>5. Payments made in BRL, converted to at the exchange rate at<br>the date of the individual payment. The average exchange rate for<br>the period was 5.2. |
All values are in US Dollars.
Reporting Principles
1.
Basis of Accounting
The Schedule of Payments by Payee and the Schedule of Payments by Project (collectively, the “Schedules") prepared by Eldorado Gold Corporation (the “Company”) for the year ended December 31, 2020 has been prepared in accordance with the financial reporting provisions in Section 9 of the Extractive Sector Transparency Measures Act, Section 2.3 of the Extractive Sector Transparency Measures Act – Technical Reporting Specifications and Section 3 of the Extractor Sector Transparency Measures Act – Guidance Version 2 (collectively the “financial reporting framework”).
The Schedules are prepared to provide information to the Board of Directors of Eldorado Gold Corporation and the Minister of Natural Resources Canada to assist in meeting the requirements of the Extractive Sector Transparency Measures Act. As a result, the Schedules may not be suitable for another purpose.
2.
Basis of Presentation
The Schedules have been prepared using the cash basis of accounting, as required by the financial reporting framework, and therefore exclude any accruals related to payments due to governments.
The Schedules include all cash payments made, without inclusion of cash inflows from a government. Where the Company makes a payment to a government that is net of credits from that government, the net payment amount has been presented.
3.
Reporting Currency
All payments are reported in U.S. dollars which is the reporting currency of the Company. When the Company has made payments in currencies other than its reporting currency, it translates the payments using the exchange rate on the date of the individual payment.
4.
Rounding
All figures have been rounded to the nearest $10,000 U.S. dollars.
5.
Control
As required by the financial reporting framework, the Company has reported payments made by entities controlled by the Company. The Company has determined whether it controls an entity in accordance with International Financial Reporting Standards.