PRECIOUS METALS

Eldorado declares commercial production at Lamaque

Vancouver-based miner Eldorado Gold has declared commercial production ahead of schedule at the Lamaque mine in Quebec, marking the first gold production in Canada for the company.

Staff Reporter
Eldorado Gold's Lamaque mine in Quebec has declared commercial production

Eldorado Gold's Lamaque mine in Quebec has declared commercial production

Eldorado gained control of the mine through its acquisition of Integra Gold in July 2017.

The initial mine plan covers seven years, with 100,000-110,000oz gold expected for Eldorado's account this year. That will increase to between 125,000-135,000oz in 2020 and 2021.

"We are proud to announce the achievement of this important milestone just over 18 months after acquiring this asset," COO Paul Skayman said.

Eldorado believes there is significant exploration upside present at Lamaque and it has budgeted to undertake 37,000m of drilling in 2019 as it looks to fill the excess capacity of the associated refurbished Sigma mill.

Eldorado, with a market capitalisation of C$929 million, plans to release its March-quarter results after the market closes on May 2.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.