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Eldorado Gold Corporation (EGO)

NYSE - NYSE Delayed Price. Currency in USD
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12.98-0.28 (-2.11%)
At close: 4:00PM EDT
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  • c
    charles
    Phenomenal Q3 production is up 35% from last year and up 41% YTD. Very few gold miners have done so well and kept guidance. For the next few months and years Eldorado Gold remains a safe and very profitable investment and should double in the foreseeable future.
    Bullish
  • W
    Warren
    Reread the 2020 Q2 Conference Call transcripts; A few comments to keep in mind with Q3 report planned for Thursday after market close. Keep a copy of this post for when reviewing Q3 resuts:

    - Repaid 58.6m @ 9.5% annual interest in debt in Q2 to reduce interest expenses. This is their highest cost debt.

    - Construction began in Q2 for the Lamaque decline 3km tunnel - anticipating an update to Lamaque mining plans in Q4, including updating reserves and increasing production.

    - Resumed Skouries renegotiations (potential news any day now).

    - Generated $63.4m free cash flow in Q2, earnings of $0.27/ share. Q3 has roughly the same production, and a $210 average higher gold price. ($27m additional revenue potential Q3, earnings should be over $0.35/ share.)

    - Given Q3 production, Elderado appears to be slightly behind the pace for making their year end target of 520,000 to 550,000 oz of gold. Lets see if they revise the Q4 / 2020 YE target, or if they anticipate a stronger Q4 production. I believe they are relying on Kisladag for the catchup in production.

    - Perma Hill study should be released sometime in Q4 as well updating reserves and mining plan - Elderado intends to make the mine slightly larger, reoptimizing, and making modest improvements.

    - Finished Q2 with $440m cash equiv. (Should be over $500m in Q3, depending on debt repayments however)

    - Future expenditures (spread out over the years of the work), using the discussed high-side range (why the company is raising its cash position) include $700m for Skouries, $250m for Perama Hill, $25m for Lamaque Decline, $50m for Lamaque throughput improvements, $150m for Crushing/ Conveying improvements, $50m for Olympias Expansion = $1.225B required.

    - Eldorado reconfirmed in this conference call that they are looking for a JV partner to fund Skouries, and the Olympias Expansion, so those large expenditures may not completely deplete our cash position. The healthy and growing cash position will strengthen Eldorado's position going in to negotiations with a JV.

    - Elderado did NOT confirm that the ATM program was complete. As per my previous comments on the board I expect the ATM to have closed sometime in October 2020 due to the pace they were on. I will look for a ATM program update in the Q3 results and conference call. Major seller potentially off the board!
    Bullish
  • W
    Warren
    Nobody jumped off a bridge today? Great.

    Let me remind the group that a market sell off is how the last gold rally started as well. When markets sell off, all assets sell. When markets reposition, they reposition to safety. Stimulus will come eventually to save the markets

    Patience will be rewarded. The fundamentals for gold miners is extremely strong, and results rolling in from gold miners everywhere will show that.
  • P
    Pospe
    Anyone who has not yet recognized after Q2 and Q3 that the value of EGO and the share price is increasing from quarter to quarter must be blind. I don't think EGO will be available for less than $ 12 again. If it contrary to expectations happens before Q4, I will increase my large volume again.
    Everyone has to make their own choice for their money. I stay long an wait for 30$ an so on....
    MO to Skouries: It is a advanced project. There are two very ore rich zones totaling 3.6 million ounces of gold and 736,000 tons of copper. One zone is near the surface where the ore is first extracted in an open pit. Since construction began in 2013, EGO has invested several hundred million dollars. Although most of the permits were already in place in 2016, the mine had to be scaled back to maintenance and servicing in 2017 due to ongoing approval delays by the left government. The value of Skouries was no longer used to evaluate EGO in recent years, which is why the share price had also fallen sharply. If the permits are now finally granted, the value of EGO would again increase massively. I estimate that gold production will start no later than 2022. Lifespan 23 years. Opencast mining will start first. We will see...
    Bullish
  • K
    Ken
    Gold has held remarkably well today. The market is starting to look to gold as a safe haven from market sell off. The dollar was firm today and gold was still flat - positive. Getting ready to jump and run
  • r
    ron
    CIBC analyst Cosmos Chiu was impressed with what he saw, noting, “Eldorado Gold is one of the few companies that has been able to maintain its original guidance throughout 2020, and it has once again re-affirmed its target of 520k-550koz at AISC (all-in sustaining costs) of $850-$900 per ounce. The analyst added, “Eldorado Gold continues to be one of our preferred names to gain exposure and leverage to higher gold prices.”
    Based on the above, Chiu has a Buy rating on EGO along with a $14.50 price target. This figure suggests a potential increase of 35%.
    Bullish
  • A
    Active
    I surmise that with the release of earnings on October 29, the company will announce not only a debt reduction plan and initiation of a small dividend.
  • M
    Mark
    Better accumulate $EGO slowly earnings out this Thursday excellent margins higher cash position they have already had in Q2
    Bullish
  • n
    nicholas
    Overall, most of the drivers remain supportive of higher gold prices into the next year, Cooper added, noting that Standard Chartered is projecting $2,000 an ounce level by the end of the year and $2,100 an ounce during Q1 2021.
    Bullish
  • M
    Mark
    Gold, silver, and mining stocks are the biggest no brainer trade I have ever seen!
    Bullish
  • M
    Mark
    Everyone piled on the dip this is very predictable since quarterly production was excellent over 35% same quarter last year and gold sales definitively over $1920s.
    Bullish
  • j
    john
    Im very excited about Lamaque PEA will be released November 15 along with reserve and resource update, in addition the new Ormaque discovery only included 44% of drilling results, once PEA is out we will see the full potential of Ormaque and Triangle Deposit.
    Bullish
  • A
    Active
    Wall St and main street have a disconnect. Dow Jones Industrial average does not mean economy is good, Prosperity with borrowed money is not prosperity. It only makes the 1% richer than ever before. Gold will go up. EGO will go up.
  • c
    charles
    Only 3 market days for Quarter 3 Earnings Results. Amazing Quarter with record high revenue, debt reduction, and profitable over 0.37 EPS. The bounce will be larger than most expect since this company has been forgotten.
    Bullish
  • c
    charles
    Eldorado Gold will exceed $16.00 on Friday 10/30 as result of record breaking revenue and overall financial turn around, cash on hand over $500 million, debt reduced showing both financial and operational discipline.
    Bullish
  • c
    carlos
    $EGO Preliminary production released was phenomenal
    137K ounces of gold, a 35% increase over Q3 2019.
    This would get them close to US $280M revenue and generate FCF $80M
    Bullish
  • j
    john
    This is officially gold miners earnings week most companies will post record high revenue, come back Friday watch EGO coil up to $15-$16
    Bullish
  • M
    Mark
    After 10/14 only with production numbers EGO hit $14.23 so with actual financial results this Thursday we will easily blast through that price. EGO is safe predictable bet.
    Bullish
  • c
    charles
    You will regret not adding Eldorado Gold to your core positions Q3 results are Thursday and Press Release tomorrow is very possible.
    Bullish
  • c
    charles
    The whole gold mining sector reports this week, if you are light on Eldorado Gold you must get in now Q3 Earnings Results are Thursday.
    Bullish