Eldorado Gold Corp 6-K, filed May 28, 2024
Eldorado Gold Corp (EGO)
About this 6-K
Eldorado Gold Corp filed this 6-K on May 28, 2024.
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 2024
Commission File Number 001-31522
| Eldorado Gold Corporation |
| (Translation of registrant’s name into English) |
11th Floor-550 Burrard Street
Bentall 5
Vancouver, B.C.
Canada V6C 2B5
(Address of 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 ☒
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 | |||
| By: | /s/ Karen Aram | ||
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| Karen Aram, Corporate Secretary | |
| Date: May 28, 2024 | |||
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Exhibits
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| Description |
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EXHIBIT 99.1
| Extractive Sector Transparency Measures Act - Annual Report |
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| Reporting Entity Name | Eldorado Gold Corporation | ||||||
| Reporting Year | From | 1/1/2023 | To: | 12/31/2023 | Date submitted | 5/27/2024 | |
| Reporting Entity ESTMA Identification Number | E919377 |
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| Other Subsidiaries Included (optional field) |
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| For Consolidated Reports - Subsidiary Reporting Entities Included in Report: |
| Eldorado Gold (Quebec) Inc (ID: E558445) |
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| Not Substituted |
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| Attestation by Reporting Entity |
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| In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above. |
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| Full Name of Director or Officer of Reporting Entity | Paul Ferneyhough |
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| Date | 5/27/2024 |
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| Position Title | Executive VP and Chief Financial Officer |
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Original Submission
Amended Report
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Extractive Sector Transparency Measures Act - Annual Report
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| Reporting Year | From: | 1/1/2023 | To: | 12/31/2023 |
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| Reporting Entity Name | Eldorado Gold Corporation | Currency of the Report | USD | ||||||||
| Reporting Entity ESTMA Identification Number | E919377 |
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| Subsidiary Reporting Entities (if necessary) | Eldorado Gold (Quebec) Inc (ID: E558445) |
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| Payments by Payee | |||||||||||
| Country | Payee Name | Departments, Agency, etc… within Payee that Received Payments | Taxes1 | Royalties | Fees2 | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes |
| Turkey | Federal Government of the Republic of Turkey |
| 11,110,000 | 17,000,000 | 4,910,000 |
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| 33,020,000 | Payments to Regional Directorate of Forestry, General Directorate of Mining and Oil Affairs, Ankara Kurumlar Tax Office, Ankara Tax Office Directorate, Ankara Ihtisas Tax Office, Canakkale Tax Office, Energy Market Regulatory Authority, General Directorate of Land Registry, Inheritance Tax Office, Menderes Land Registry Office, Ministry of Justice, and Hayriye Ozcelik Ankara 9th Notary .
Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 23.91. See note 1 & 2 below. |
| Turkey | Menderes Municipal Government |
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| 200,000 |
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| 200,000 | Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 23.91. |
| Canada | Government of Quebec |
| 14,390,000 |
| 80,000 |
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| 14,470,000 | Payments to Revenu Quebec, Ministre des finances du Québec, and Ministère de la Faune Québec.
Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.35. |
| Canada | Municipality of Val-d'Or |
| 480,000 |
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| 480,000 | Payments to Centre Service Scolaire de l'Or et des Bois, Commission scolaire Western Quebec, and Ville de Val d'Or.
Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.35. |
| Greece | Federal Government of Greece |
| 210,000 | 12,520,000 |
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| 12,730,000 | Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.92. |
| Greece | Municipality of Polygyros |
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| 130,000 | 130,000 | Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.92. |
| Greece | Municipality of Aristoteles |
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| 970,000 | 970,000 | Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.92. |
| Romania | Certej Municipal Government |
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| 140,000 |
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| 140,000 | Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.53. |
| Romania | Federal Government of Romania |
| 320,000 |
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| 320,000 | Payments to the Ministry of Public Finance, and National Agency for Mineral Resources.
Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.53. |
| Additional Notes: | 1. Taxes of $48,180,000 were remitted to the Federal Government of the Republic of Turkey of which $11,110,000 was paid in cash after applying refunds of sales taxes previously paid. 2. Of the total fees of $4,910,000 paid to the Federal Government of the Repubic of Turkey in cash, the company received a refund of $2,240,000 for refundable VAT in cash. 3. Royalties of $15,670,000 were remitted to the Federal Government of Greece of which $12,520,000 was paid in cash after applying VAT refunds. | ||||||||||
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Extractive Sector Transparency Measures Act - Annual Report
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| Reporting Year | From: | 1/1/2023 | To: | 12/31/2023 |
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| Reporting Entity Name | Eldorado Gold Corporation |
| Currency of the Report | USD |
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| Reporting Entity ESTMA Identification Number | E919377 |
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| Subsidiary Reporting Entities (if necessary) | Eldorado Gold (Quebec) Inc (ID: E558445) |
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| Payments by Project | ||||||||||
| Country | Project Name | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid by Project | Notes |
| Turkey | Kisladag | - | 8,910,000 | 3,870,000 |
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| 12,780,000 | Note 1 |
| Turkey | Efemcukuru | - | 8,290,000 | 570,000 |
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| 8,860,000 | Note 1 |
| Turkey | Ankara Office | 11,110,000 | - | 470,000 |
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| 11,580,000 | Note 1 |
| Canada | Lamaque Complex | 14,870,000 |
| 80,000 |
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| 14,950,000 | Note 2 |
| Greece | Skouries |
| 60,000 |
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| 60,000 | Note 3 |
| Greece | Perama Hill |
| 20,000 |
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| 20,000 | Note 3 |
| Greece | Kassandra Mines | 210,000 | 12,440,000 |
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| 1,100,000 | 13,750,000 | Note 3 |
| Romania | Certej | 320,000 |
| 140,000 |
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| 460,000 | Note 4 |
| Additional Notes: | 1. Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 23.91 2. Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.35. 3. Payments made in EUR, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 0.92. 4. Payments made in RON, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 4.53. | |||||||||
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| Reporting Principles |
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| 1. | Basis of Accounting |
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| 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, 2023 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”). |
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| 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. |
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| 2. | Basis of Presentation |
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| 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. |
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| 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. |
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| 3. | Reporting Currency |
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| 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. |
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| 4. | Rounding |
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| All figures have been rounded to the nearest $10,000 U.S. dollars. |
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| 5. | Control |
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| 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. |
EXHIBIT 99.2
