Eldorado Gold Corp 6-K, filed Jul 25, 2024

Eldorado Gold Corp (EGO)

6-K 2024-07-25 For: 2024-06-30

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Added on April 10, 2026

About this 6-K

Eldorado Gold Corp filed this 6-K on July 25, 2024.

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99.1			Unaudited Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2024 and 2023
99.2			Management's Discussion and Analysis for the three and six months ended June 30, 2024
99.3			CEO Certification
99.4			CFO Certification
99.5			Consent of Simon Hille
99.6			Consent of Jessy Thelland


As at	Note	June 30, 2024		December 31, 2023
ASSETS
Current assets
Cash and cash equivalents		$	595,052	$	540,473
Term deposits		—		1,136


Accounts receivable and other	5	107,741		122,778
Inventories	6	269,042		235,890
Current derivative assets	18	979		2,502
Assets held for sale	4	27,058		27,627
		999,872		930,406
Restricted cash		2,336		2,085
Deferred tax assets		14,748		14,748
Other assets	7	253,233		185,209
Non-current derivative assets	18	—		7,036
Property, plant and equipment		3,917,785		3,755,559
Goodwill		92,591		92,591
		$	5,280,565	$	4,987,634
LIABILITIES & EQUITY
Current liabilities
Accounts payable and accrued liabilities		$	250,167	$	254,030
Current portion of lease liabilities		4,614		5,020

Current portion of asset retirement obligation		2,881		4,019
Current derivative liabilities	18	7,174		279
Liabilities associated with assets held for sale	4	11,119		10,867
		275,955		274,215
Debt	8	748,033		636,059
Lease liabilities		11,207		12,092
Employee benefit plan obligations		11,127		10,261
Asset retirement obligations		127,288		125,090
Non-current derivative liabilities	18	32,254		18,843
Deferred income tax liabilities		410,963		399,109
		1,616,827		1,475,669
Equity
Share capital	14	3,431,267		3,413,365
Treasury stock		(12,157)		(19,263)
Contributed surplus		2,607,572		2,617,216
Accumulated other comprehensive income (loss)		42,469		(4,751)
Deficit		(2,399,335)		(2,488,420)
Total equity attributable to shareholders of the Company		3,669,816		3,518,147
Attributable to non-controlling interests		(6,078)		(6,182)
		3,663,738		3,511,965
		$	5,280,565	$	4,987,634


		Three months ended				Six months ended
		June 30,				June 30,
	Note	2024		2023		2024		2023
Revenue
Metal sales	9	$	297,141	$	228,993	$	555,108	$	456,808

Cost of sales
Production costs		127,809		116,134		250,815		225,845

Depreciation and amortization		59,438		64,086		113,917		126,439
		187,247		180,220		364,732		352,284

Earnings from mine operations		109,894		48,773		190,376		104,524

Exploration and evaluation expenses		3,386		4,634		7,819		10,470
Mine standby costs	10	1,937		5,113		4,623		8,617

General and administrative expenses		10,265		9,365		19,759		19,965
Employee benefit plan expense		864		706		2,038		2,219
Share-based payments expense	15	3,676		2,676		5,725		3,528

Write-down of assets		688		1,886		1,410		2,048
Foreign exchange gain		(1,376)		(14,681)		(1,548)		(13,754)
Earnings from operations		90,454		39,074		150,550		71,431

Other (expense) income	11	(5,286)		10,580		(14,220)		19,088
Finance costs	12	(7,085)		(9,350)		(7,053)		(18,143)
Earnings from continuing operations before income tax		78,083		40,304		129,277		72,376
Income tax expense	13	21,711		38,866		37,763		51,597
Net earnings from continuing operations		56,372		1,438		91,514		20,779
Net loss from discontinued operations, net of tax	4	(1,117)		(942)		(2,498)		(2,066)
Net earnings for the period		$	55,255	$	496	$	89,016	$	18,713

Net earnings (loss) attributable to:
Shareholders of the Company		55,480		885		89,085		20,205
Non-controlling interests		(225)		(389)		(69)		(1,492)
Net earnings for the period		$	55,255	$	496	$	89,016	$	18,713

Net earnings (loss) attributable to shareholders of the Company:
Continuing operations		56,384		1,537		91,578		20,918
Discontinued operations		(904)		(652)		(2,493)		(713)
		$	55,480	$	885	$	89,085	$	20,205

Net loss attributable to non-controlling Interests:
Continuing operations		(12)		(99)		(64)		(139)
Discontinued operations		(213)		(290)		(5)		(1,353)
		$	(225)	$	(389)	$	(69)	$	(1,492)

Weighted average number of shares outstanding:
Basic	14	204,075,131		188,803,605		203,390,674		186,354,723
Diluted	14	205,490,897		189,680,430		204,712,604		187,136,303

Net earnings per share attributable to shareholders of the Company:
Basic earnings per share		$	0.27	$	0.00	$	0.44	$	0.11
Diluted earnings per share		$	0.27	$	0.00	$	0.44	$	0.11

Net earnings per share attributable to shareholders of the Company - Continuing operations:
Basic earnings per share		$	0.28	$	0.01	$	0.45	$	0.11
Diluted earnings per share		$	0.27	$	0.01	$	0.45	$	0.11


	Three months ended				Six months ended
	June 30,				June 30,
	2024		2023		2024		2023

Net earnings for the period	$	55,255	$	496	$	89,016	$	18,713
Other comprehensive income (loss):
Items that will not be reclassified to earnings or loss:
Change in fair value of investments in marketable securities	20,372		4,055		55,245		27,497
Income tax expense on change in fair value of investments in marketable securities	(2,745)		(546)		(7,448)		(1,181)
Actuarial losses on employee benefit plans	(838)		(1,831)		(755)		(3,665)
Income tax recovery on actuarial losses on employee benefit plans	200		243		178		696
Total other comprehensive income for the period	16,989		1,921		47,220		23,347
Total comprehensive income for the period	$	72,244	$	2,417	$	136,236	$	42,060

Attributable to:
Shareholders of the Company	72,469		2,806		136,305		43,552
Non-controlling interests	(225)		(389)		(69)		(1,492)
	$	72,244	$	2,417	$	136,236	$	42,060


		Three months ended				Six months ended
		June 30,				June 30,
	Note	2024		2023		2024		2023
Cash flows generated from (used in):
Operating activities
Net earnings from continuing operations		$	56,372	$	1,438	$	91,514	$	20,779
Adjustments for:
Depreciation and amortization		60,320		64,893		115,664		128,014
Finance costs	12	7,085		9,350		7,053		18,143
Interest income	11	(6,235)		(2,719)		(11,286)		(6,450)
Unrealized foreign exchange (gain) loss		(325)		(11,738)		1,337		(12,225)
Income tax expense	13	21,711		38,866		37,763		51,597

Loss on disposal of assets		375		682		557		767
Unrealized loss (gain) on derivative contracts	11	11,966		(8,397)		28,853		(9,022)

Realized (gain) loss on derivative contracts	11	(462)		5		(462)		5
Write-down of assets		688		1,886		1,410		2,048

Share-based payments expense	15	3,676		2,676		5,725		3,528
Employee benefit plan expense		864		706		2,038		2,219

		156,035		97,648		280,166		199,403
Property reclamation payments		(658)		(1,044)		(1,493)		(1,956)
Employee benefit plan payments		(326)		(1,783)		(920)		(4,111)
Settlement of derivative contracts		462		(5)		462		(5)
Income taxes paid		(29,567)		(15,101)		(49,041)		(24,137)
Interest received		6,235		2,719		11,286		6,450
Changes in non-cash working capital	16	(19,936)		(7,129)		(32,960)		(60,032)
Net cash generated from operating activities of continuing operations		112,245		75,305		207,500		115,612
Net cash (used in) generated from operating activities of discontinued operations	4	(328)		(247)		(218)		69

Investing activities
Additions to property, plant and equipment		(133,092)		(86,233)		(253,780)		(158,504)
Capitalized interest paid		(5,180)		(527)		(14,088)		(527)

Proceeds from the sale of property, plant and equipment		4		1,185		16		1,185


Value added taxes related to mineral property expenditures, net		(6,021)		(11,441)		(2,625)		(14,502)
Purchase of marketable securities and investment in debt securities		—		—		(11,130)		(633)
Decrease in term deposits		—		—		1,136		35,000


Net cash used in investing activities of continuing operations		(144,289)		(97,016)		(280,471)		(137,981)


Financing activities
Issuance of common shares for cash, net of share issuance costs		7,703		166,375		12,319		166,809
Contributions from non-controlling interests		—		—		173		265
Proceeds from Term Facility - commercial loans and RRF loans	8	111,291		71,208		126,603		71,208
Proceeds from Term Facility - VAT facility	8	13,789		535		19,306		535
Repayments of Term Facility - VAT facility	8	(15,489)		—		(15,489)		—
Term Facility loan financing costs		—		(17,172)		—		(17,172)
Term Facility commitment fees		(2,201)		(2,529)		(2,201)		(2,529)
Senior Secured Credit Facility refinancing costs		(150)		—		(150)		—
Interest paid		(1,542)		(885)		(9,889)		(17,699)

Principal portion of lease liabilities		(1,052)		(844)		(2,164)		(1,845)
Purchase of treasury stock		—		—		(958)		—
Net cash generated from financing activities of continuing operations		112,349		216,688		127,550		199,572


Net increase in cash and cash equivalents		79,977		194,730		54,361		177,272
Cash and cash equivalents - beginning of period		514,747		262,277		540,473		279,735
Change in cash in disposal group held for sale	4	328		(424)		218		(424)
Cash and cash equivalents - end of period		$	595,052	$	456,583	$	595,052	$	456,583


Eldorado Gold Corporation
(Translation of registrant’s name into English)


1188-550 Burrard Street, Bentall 5 Vancouver, B.C. Canada V6C 2B5
(Address of principal executive offices)


Date: July 25, 2024			/s/ Karen Aram Karen Aram Corporate Secretary


	June 30, 2024		December 31, 2023

Cash	$	552	$	770
Accounts receivable and other	1,146		1,276
Inventories	1,621		1,586
Property, plant, and equipment	23,739		23,995
Assets held for sale	$	27,058	$	27,627

Accounts payable and accrued liabilities	$	(256)	$	(228)
Asset retirement obligations	(10,863)		(10,639)
Liabilities associated with assets held for sale	$	(11,119)	$	(10,867)


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023

Expenses	$	(1,117)	$	(942)	$	(2,498)	$	(2,066)


Loss from operations	(1,117)		(942)		(2,498)		(2,066)
Income tax expense	—		—		—		—
Loss from discontinued operations, net of tax	$	(1,117)	$	(942)	$	(2,498)	$	(2,066)
Loss from discontinued operations attributable to shareholders of the Company	$	(904)	$	(652)	$	(2,493)	$	(713)
Loss from discontinued operations attributable to non-controlling interest	$	(213)	$	(290)	$	(5)	$	(1,353)

Basic and diluted loss per share attributable to shareholders of the Company	$	0.00	$	0.00	$	(0.01)	$	0.00


	June 30, 2024		December 31, 2023

Trade receivables	$	46,458	$	49,387
Value added tax and other taxes recoverable	16,775		29,465
Other receivables and advances	22,878		21,097
Prepaid expenses and deposits	20,503		19,997
Investment in marketable securities and debt securities	1,127		2,832
	$	107,741	$	122,778


	June 30, 2024		December 31, 2023

Ore stockpiles	$	11,203	$	9,856
In-process inventory and finished goods	138,286		102,884
Materials and supplies	119,553		123,150
	$	269,042	$	235,890


	June 30, 2024		December 31, 2023

Investments in marketable securities and debt securities	$	168,091	$	105,966
Long-term value added tax and other taxes recoverable	79,974		74,495
Prepaid loan costs	4,183		3,175
Prepaid forestry fees	982		1,403
Other	3		170
	$	253,233	$	185,209


	June 30, 2024		December 31, 2023

Senior Notes, net of unamortized transaction fees of $4,931 (2023 – $5,325) and initial redemption option of $3,382	$	498,450	$	498,326
Redemption option derivative asset	(7,664)		(5,635)
Term Facility commercial loans, net of unamortized transaction fees of $20,900	178,733		100,890
Term Facility RRF loans, net of unamortized transaction fees of $5,785	72,207		39,209
Term Facility revolving VAT facility, net of unamortized transaction fees of $671	6,307		3,269



	$	748,033	$	636,059


	Turkiye		Canada		Greece		Total

Gold revenue - doré	$	93,059	$	102,388	$	—	$	195,447
Gold revenue - concentrate	52,586		—		31,304		83,890
Silver revenue - doré	918		452		—		1,370
Silver revenue - concentrate	1,709		—		5,915		7,624
Lead concentrate	—		—		4,172		4,172
Zinc concentrate	—		—		3,805		3,805
Revenue from contracts with customers	$	148,272	$	102,840	$	45,196	$	296,308
Gain (loss) on revaluation of derivatives in trade receivables - gold	1,054		—		(1,107)		(53)
Gain on revaluation of derivatives in trade receivables - other metals	—		—		886		886
	$	149,326	$	102,840	$	44,975	$	297,141


			ELDORADO GOLD CORPORATION
			(Registrant)


	2024			2023
Voting common shares	Number of Shares	Total		Number of Shares	Total

Balance at January 1,	203,138,351	$	3,413,365	184,800,571	$	3,241,644
Shares issued upon exercise of share options	1,595,053	12,319		700,134	5,140
Shares issued on redemption of performance share units	27,874	499		—	—
Estimated fair value of share options exercised transferred from contributed surplus	—	5,084		—	2,168



Shares issued for private placement with EBRD, net of issuance costs	—	—		6,269,231	60,142
Shares issued for bought deal offering, net of issuance costs	—	—		10,400,000	94,881
Flow-through shares issued, net of issuance costs and premium	—	—		680,900	6,634
Balance at June 30,	204,761,278	$	3,431,267	202,850,836	$	3,410,609


	Within 1 Year		2 Years		3 Years		4 Years		5 Years		Over 5 Years		Total


Debt - Term Facility*	$	—	$	43,395	$	72,837	$	72,837	$	72,837	$	35,527	$	297,433
Purchase obligations and other commitments	$	20,863	$	83	$	—	$	—	$	—	$	—	$	20,946


	June 30, 2024		December 31, 2023

Liabilities
Foreign currency collars	$	97	$	—
Euro forward contracts	1,932		35
Gold collars	13,727		3,026
Gold commodity swaps	10,739		2,966
Copper commodity swaps	7,227		1,032
Interest rate swaps	4,948		12,063
Foreign currency forward contracts	758		—
Total derivative liabilities	$	39,428	$	19,122


Classified as:	June 30, 2024		December 31, 2023

Current	$	979	$	2,502
Non-current	—		7,036
	$	979	$	9,538


			2024
Canadian dollar collars
Canadian dollar contracts			US$54,000
Weighted average put strike price (USD:CDN)			1.30
Weighted average call strike price (USD:CDN)			1.44

Euro collars
Euro contracts			€39,000
Weighted average put strike price (EUR:USD)			1.14
Weighted average call strike price (EUR:USD)			1.03


	2024	2025

Gold ounces	100,002	200,004
Weighted average put strike price per ounce	US$1,800	US$1,900
Weighted average call strike price per ounce	US$2,765	US$2,667


	June 30, 2024						December 31, 2023
	Carrying amount				Fair value		Carrying amount				Fair value
	Level 1(13)		Level 2				Level 1(13)		Level 2

Marketable securities (1)	162,857		—		162,857		100,794		—		100,794
Investments in debt securities (2)	6,361		—		6,361		8,004		—		8,004
Settlement receivables (3)	—		46,458		46,458		—		49,387		49,387
Redemption option derivative asset (4)	—		7,664		7,664		—		5,635		5,635
Senior Notes, excluding derivative asset (5)	—		(498,450)		(479,600)		—		(498,326)		(471,600)
Term Facility - commercial loans (6)	—		(178,733)		(178,733)		—		(100,890)		(100,890)
Term Facility - RRF loans (6)	—		(72,207)		(72,207)		—		(39,209)		(39,209)
Term Facility - revolving VAT facility (6)	—		(6,307)		(6,307)		—		(3,269)		(3,269)

Foreign currency collars - assets (7)	—		—		—		—		1,338		1,338
Foreign currency collars - liabilities (7)	—		(97)		(97)		—		—		—
Euro forward contracts - assets (8)	—		91		91		—		1,513		1,513
Euro forward contracts - liabilities (8)	—		(1,932)		(1,932)		—		(35)		(35)

Gold collars - liabilities (9)	—		(13,727)		(13,727)		—		(3,026)		(3,026)

Gold commodity swaps - liabilities (10)	—		(10,739)		(10,739)		—		(2,966)		(2,966)

Copper commodity swaps - liabilities (10)	—		(7,227)		(7,227)		—		(1,032)		(1,032)
Interest rate swaps - assets (11)	—		888		888		—		458		458
Interest rate swaps - liabilities (11)	—		(4,948)		(4,948)		—		(12,063)		(12,063)
Foreign currency forward contracts - assets (12)	—		—		—		—		6,229		6,229
Foreign currency forward contracts - liabilities (12)	—		(758)		(758)		—		—		—
Net financial assets (liabilities)	$	169,218	$	(740,024)	$	(551,956)	$	108,798	$	(596,256)	$	(460,732)


As at and for the three months ended June 30, 2024	Turkiye		Canada		Greece		Romania*		Other		Total

Earnings and loss information
Revenue	$	149,326	$	102,840	$	44,975	$	—	$	—	$	297,141
Production costs	63,002		33,574		31,233		—		—		127,809

Depreciation and amortization	30,769		16,636		12,033		—		—		59,438
Earnings from mine operations	$	55,555	$	52,630	$	1,709	$	—	$	—	$	109,894

Other significant items of income and expense

Write-down of assets	$	688	$	—	$	—	$	—	$	—	$	688
Exploration and evaluation expenses	1,642		961		119		—		664		3,386
Mine standby costs	—		356		1,581		—		—		1,937
Income tax expense (recovery)	10,461		15,608		(1,613)		—		(2,745)		21,711
Loss from discontinued operations, net of tax attributable to shareholders of the Company	—		—		—		(904)		—		(904)

Capital expenditure information
Additions to property, plant and equipment during the period**	$	40,325	$	27,798	$	97,944	$	—	$	(400)	$	165,667
Capitalized interest	—		—		6,706		—		—		6,706


As at and for the six months ended June 30, 2024	Turkiye		Canada		Greece		Romania*		Other		Total

Earnings and loss information
Revenue	$	267,680	$	196,293	$	91,135	$	—	$	—	$	555,108
Production costs	115,784		68,775		66,256		—		—		250,815

Depreciation and amortization	53,587		35,287		25,043		—		—		113,917
Earnings (loss) from mine operations	$	98,309	$	92,231	$	(164)	$	—	$	—	$	190,376

Other significant items of income and expense

Write-down (recovery) of assets	$	1,752	$	—	$	(342)	$	—	$	—	$	1,410
Exploration and evaluation expenses	2,813		3,491		260		—		1,255		7,819
Mine standby costs	—		633		3,990		—		—		4,623
Income tax expense (recovery)	13,983		28,448		2,780		—		(7,448)		37,763
Loss from discontinued operations, net of tax attributable to shareholders of the Company	—		—		—		(2,493)		—		(2,493)

Capital expenditure information
Additions to property, plant and equipment during the period**	$	71,586	$	54,320	$	155,101	$	—	$	6,662	$	287,669
Capitalized interest	—		—		14,655		—		—		14,655

Information about assets and liabilities
Property, plant and equipment	$	834,590	$	747,305	$	2,322,063	$	—	$	13,827	$	3,917,785
Goodwill	—		92,591		—		—		—		92,591
	$	834,590	$	839,896	$	2,322,063	$	—	$	13,827	$	4,010,376

Debt	$	—	$	—	$	257,247	$	—	$	490,786	$	748,033


For the year ended December 31, 2023	Turkiye		Canada		Greece		Romania*		Other		Total

Information about assets and liabilities
Property, plant and equipment	$	831,756	$	729,685	$	2,179,782	$	—	$	14,336	$	3,755,559
Goodwill	—		92,591		—		—		—		92,591
	$	831,756	$	822,276	$	2,179,782	$	—	$	14,336	$	3,848,150

Debt	$	—	$	—	$	143,368	$	—	$	492,691	$	636,059


Management's Discussion and Analysis

For the three and six months ended June 30, 2024


MANAGEMENT'S DISCUSSION and ANALYSIS For the three and six months ended June 30, 2024


Section			Page

About Eldorado			4

Consolidated Financial and Operational Highlights			5

Key Business Developments			6

Review of Financial and Operating Performance			7

Quarterly Operations Update			10

Development Projects			16

Exploration and Evaluation			20

Financial Condition and Liquidity			21

Quarterly Results			24

Outstanding Share Information			25

Non-IFRS and Other Financial Measures and Ratios			26

Managing Risk			36

Other Information and Advisories			37


	3 months ended June 30,		6 months ended June 30,
	2024	2023	2024	2023
Revenue	$297.1	$229.0	$555.1	$456.8
Gold produced (oz)	122,319	109,435	239,430	220,944
Gold sold (oz)	121,226	110,134	237,234	219,951
Average realized gold price ($/oz sold) (2)	$2,336	$1,953	$2,214	$1,943
Production costs	127.8	116.1	250.8	225.8
Total cash costs ($/oz sold) (2,3)	940	928	931	893
All-in sustaining costs ($/oz sold) (2,3)	1,331	1,296	1,297	1,252
Net earnings for the period (1)	55.5	0.9	89.1	20.2
Net earnings per share – basic ($/share) (1)	0.27	—	0.44	0.11
Net earnings per share – diluted ($/share) (1)	0.27	—	0.44	0.11
Net earnings for the period continuing operations (1,4)	56.4	1.5	91.6	20.9
Net earnings per share continuing operations – basic ($/share)(1,4)	0.28	0.01	0.45	0.11
Net earnings per share continuing operations – diluted ($/share)(1,4)	0.27	0.01	0.45	0.11
Adjusted net earnings continuing operations – basic (1,2,4)	66.6	9.7	121.8	26.4
Adjusted net earnings per share continuing operations ($/share)(1,2,4)	0.33	0.05	0.60	0.14
Net cash generated from operating activities (4)	112.2	75.3	207.5	115.6
Cash flow from operating activities before changes in working capital (2,4)	132.2	82.4	240.5	175.6
Free cash flow (2,4)	(32.0)	(21.7)	(63.0)	(56.7)
Free cash flow excluding Skouries (2,4)	33.9	13.7	67.6	(6.2)
Cash, cash equivalents and term deposits (4)	595.1	456.6	595.1	456.6
Total assets	5,280.6	4,742.1	5,280.6	4,742.1
Debt (4)	748.0	546.0	748.0	546.0


	3 months ended June 30,		6 months ended June 30,
Operating Data	2024	2023	2024	2023
Tonnes placed on pad	3,415,604	3,029,900	6,177,378	6,164,613
Ounces placed on pad (2)	53,521	44,811	90,944	84,681
Head grade (g/t gold)	0.92	0.76	0.85	0.73
Gold ounces produced	38,990	34,180	76,513	71,340
Gold ounces sold	39,646	32,280	76,344	69,673
Average realized gold price ($/oz sold) (1)	$2,347	$1,980	$2,217	$1,939
Total cash costs ($/oz sold) (1)	$941	$827	$883	$809
All-in sustaining costs ($/oz sold) (1)	$1,055	$937	$988	$904
Financial Data
Revenue	$94.0	$64.7	$171.0	$136.8
Production costs	38.2	27.5	69.2	58.0
Depreciation and depletion	22.2	18.1	40.5	38.9
Earnings from mine operations	33.6	19.1	61.4	39.8
Growth capital investment (1)	32.3	18.7	57.7	37.3
Sustaining capital expenditures (1)	$3.1	$2.8	$5.2	$5.0


Segment	2024 Target / Projects	Exploration Expenditure
		Q2 2024	Q2 2023	YTD 2024	YTD 2023
Canada	Sigma-Lamaque proximal targets, Bourlamaque targets, Uniake-Perestroika, Montgolfier, Kirkland Lake targets	$1.0	$1.6	$3.5	$4.9
Turkiye	Efemcukuru West Vein targets, Atalan, Mayislar, Kurak	1.6	2.2	2.8	4.0
Other		0.8	0.8	1.5	1.6
Total Expensed		$3.4	$4.6	$7.8	$10.5
Canada	Lamaque: Triangle Deep, Ormaque resource conversion and expansion	$4.4	$3.0	$8.0	$5.3
Turkiye	Efemcukuru: Kestanebeleni, Kokarpinar, resource conversion and expansion	0.6	1.6	1.1	3.5
Other		—	0.4	0.4	0.7
Total Capitalized		$5.0	$5.0	$9.5	$9.5


Summary of Capital Expenditures	Q2 2024	Q2 2023	YTD 2024	YTD 2023
Kisladag	$32.3	$18.7	$57.7	$37.3
Lamaque	7.4	4.7	12.5	7.1
Efemcukuru	1.1	1.6	2.2	3.5
Olympias	1.6	3.7	2.6	3.5
Growth capital investment at operating mines (1)	$42.3	$28.8	$75.0	$51.4

Kisladag	$3.1	$2.8	$5.2	$5.0
Lamaque	20.5	16.5	41.9	34.6
Efemcukuru	4.2	3.7	7.1	5.9
Olympias	4.1	3.4	7.6	7.2
Sustaining capital expenditures at operating mines (1,2)	$31.9	$26.4	$61.9	$52.7


Skouries (3)	$91.9	$42.6	$144.4	$74.0
Other projects	(0.5)	1.7	6.4	4.8
Total capital expenditures	$165.7	$99.4	$287.7	$182.8

Reconciliation to cash capital expenditures:
Change in accounts payable and accruals related to capital additions	($31.1)	($13.2)	($32.3)	($24.0)
Lease and other non-monetary additions	(1.5)	—	(1.5)	(0.3)
Total cash capital expenditures (4)	$133.1	$86.2	$253.8	$158.6


Common Shares Outstanding (1)
- as of June 30, 2024			204,761,278
- as of July 25, 2024			204,761,278
Share purchase options - as of July 25, 2024 (Weighted average exercise price per share: C$14.31)			2,801,530
Performance share units (2) - as of July 25, 2024			965,493


	Direct operating costs	By-product credits	Refining and selling costs	Inventory change (1)	Royalty expense	Total cash costs	Gold oz sold	Total cash cost/oz sold
Kisladag	$33.6	($0.9)	$0.2	($3.1)	$7.5	$37.3	39,646	$941
Lamaque	33.8	(0.5)	0.1	(1.5)	1.2	33.1	43,625	759
Efemcukuru	17.6	(1.7)	4.0	(0.5)	5.0	24.4	22,462	1,087
Olympias	27.3	(14.8)	4.4	(1.9)	4.1	19.1	15,493	1,231
Total consolidated	$112.3	($17.9)	$8.6	($7.0)	$17.8	$113.9	121,226	$940


	Total cash costs	Corporate & allocated G&A	Exploration costs	Reclamation costs and amortization	Sustaining capital	Total AISC	Gold oz sold	Total AISC/ oz sold
Kisladag	$37.3	$—	$—	$1.5	$3.1	$41.8	39,646	$1,055
Lamaque	33.1	—	0.5	0.1	20.1	53.8	43,625	1,233
Efemcukuru	24.4	0.1	0.6	0.2	3.6	28.9	22,462	1,288
Olympias	19.1	—	—	0.4	4.1	23.6	15,493	1,522
Corporate (1)	—	13.2	—	—	—	13.2	—	109
Total consolidated	$113.9	$13.3	$1.1	$2.1	$30.9	$161.3	121,226	$1,331


	Revenue	Concentrate deductions (1)	Less non-gold revenue	Gold revenue (2)	Gold oz sold	Average realized gold price per ounce sold
Kisladag	$94.0	$—	($0.9)	$93.1	39,646	$2,347
Lamaque	102.8	—	(0.5)	102.4	43,625	2,347
Efemcukuru	55.3	1.4	(1.7)	55.0	22,462	2,448
Olympias	45.0	2.6	(14.8)	32.8	15,493	2,115
Total consolidated	$297.1	$3.9	($17.9)	$283.2	121,226	$2,336


			By:			/s/ Simon Hille
						Simon Hille, FAusIMM
						Eldorado Gold Corporation
						EVP Technical Services & Operations


			By:			/s/ Jessy Thelland
						Jessy Thelland, géo
						Eldorado Gold Corporation
						Directeur Services Techniques