Eldorado Achieves Record 2014 Gold Production of 789,224 Ounces

Eldorado Gold Corp. (TSX:ELD,NYSE:EGO) announced its financial and operating results for 2014, noting that its gold production came to 789,224 ounces, a new record. Adjusted net earningswere $138.7 million, or $0.19 per share, slightly lower than 2013′s $192.9 million.

Other highlights include:

• Gold revenues were $980.9 million on sales of 774,522 ounces of gold at an average realized gold price of $1,266 per ounce.
• Liquidity of $876.3 million, including $501.3 million in cash, cash equivalents and term deposits, and $375.0 million in unused lines of credit.
• All-in sustaining cash costs averaged $779 per ounce; cash operating costs averaged $500 per ounce.
• Significant developments at Skouries: mechanical installation of the SAG and ball mills complete; construction of the tailings dam began in the fourth quarter.
• Feasibility Study at Certej underway with completion slated for the second quarter of 2015.

Paul Wright, CEO of Eldorado, commented:

This past year was another milestone for the Company and our employees. We achieved record total gold production of nearly 800,000 ounces of gold at industry leading cash costs of approximately$500 per ounce.  We made significant progress at Skouries, with the SAG and ball mill installations now complete and the tailings dam construction well underway.  All of our mines delivered solid operational results, and the same can be said for our employees who continue to work safer and smarter.  With approximately $875 million in total liquidity at year-end, our balance sheet remains one of the strongest in the industry, allowing us to internally fund our robust growth pipeline.

Click here to read the full Eldorado Gold Corp. (TSX:ELD,NYSE:EGO) press release.