- Eldorado Gold announced last week it produced 109,435 ounces of gold in Q2 2023, down 4% compared to Q2 2022 as a result of lower throughput at Lamaque due to the wildfires in the region and lower average gold grade and recoveries at Olympias.
Eldorado also reported revenue of $229.9 million in Q2 2023, an increase of 8% from $213.4 million in Q2 2022, primarily due to higher sales volumes, and higher average realized gold price. The company explained that higher net earnings in Q2 2023, compared to Q2 2022, is primarily a result of higher gold sales, higher average realized gold prices, foreign exchange gain and lower finance costs.
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