It is a gold-copper porphyry deposit designed to be mined using a combination of conventional open pit and underground mining techniques. The Skouries project, is part of the Kassandra Mines Complex, and located within the Halkidiki Peninsula of Northern Greece. The technical report for the Skouries FS will be filed on SEDAR and EDGAR in accordance with the requirements under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Note: Skouries 2021 Feasibility Study assumes a gold price of $1,500/oz, copper price of $3.85/lb, $US/Euro exchange rate of 1., 1., 1., 1.2 thereafter See the section 'Non-IFRS Measures” below. (1) These financial measures or ratios are non-IFRS financial measures or ratios. Summary of Skouries Feasibility Study Skouries Feasibility Summary With timely completion of construction in two and a half years, Skouries would provide significant upside to our five-year production profile.” Subject to financing and Board approval, target re-start of construction at Skouries is mid-2022. “Completion of the Skouries Feasibility Study is a critical milestone and will allow the company to advance financing alternatives for the project. Skouries remains a very attractive and executable project that will have a lasting, positive impact, and create additional economic and social value for our shareholders and all stakeholders.” “The project has been significantly de-risked through the infrastructure built to date, the Amended Investment Agreement ratified by the Greek government in March 2021, and today, the Feasibility Study which reflects a more resilient project. “Eldorado is looking forward to expanding our production profile at the Kassandra Mines and developing this region as a cornerstone for the Company.” The results of the study reflect the robust economics of this world-class asset that will support our growth strategy,” said George Burns, Eldorado’s President and CEO. “The completion of the Skouries FS is an important milestone for the Company. (1) PFS filed as a technical report in March 2018 titled “Technical Report, Skouries Project, Greece” with an effective date of January 1, 2018. Initial capital costs to complete the Skouries project of $845 million, an increase of 23% over the March 2018 Pre-Feasibility Study 1 (“PFS”), primarily related to increased input prices, scope change related to water management and an enhanced execution plan.Negative All-In Sustaining Costs (“AISC”) of $(17) per oz sold over the LOM.Negative cash operating cost of $(368) per oz sold over the LOM.Average annual gold production of 182,000 oz in the first 5 years of production.Average annual production of 140,000 oz of gold and 67 million pounds of copper (approximately 312,000 oz gold equivalent) over a 20-year mine life.
2.9 million ounce Life of Mine (“LOM”) gold production.IRR of 24% and NPV (5%) of $1.8 billion using approximate spot prices of $1,800 per oz gold and $4.25 per pound copper.19% after-tax Internal Rate of Return (“IRR”) and $1.3 billion after-tax Net Present Value (“NPV”) (5%), based on long-term prices of $1,500 per ounce (“oz”) gold and $3.85 per pound copper.The call details are at the end of this news release. As previously announced, the Company will host a conference call, later today, on Wednesday, December 15, 2021, at 6:00 PM ET (3:00 PM PT). 15, 2021 (GLOBE NEWSWIRE) - Eldorado Gold Corporation (“Eldorado”, the “Company” or “We”) announces the completion of a Feasibility Study (“FS”) on the wholly-owned Skouries project, located in northern Greece.