Eldorado Gold Corporation (“Eldorado” or “the Company”) announces
the restart of operations at Lamaque as a result of the Quebec
government’s confirmation that mines in the Province are allowed to
resume operations.
Effective April 15, 2020, the Company will begin
to ramp up Lamaque. The Company has safety protocols in place
to address COVID-19 at all its sites, including Lamaque, such as
temperature screening, compliance with additional hygiene measures
and task observation to ensure that all work is performed
respecting physical distancing and the use of appropriate personal
protective equipment. The Company also has isolation
procedures in place should an employee fall ill while at
work. All personnel have been trained in these updated
protocols.
Operations at Lamaque were moved to care and
maintenance on March 23rd, 2020 to comply with the Quebec
provincial government-mandated restrictions to address the COVID-19
situation in the province.
George Burns, President and CEO said, “We are
pleased to resume operations at Lamaque. Keeping our people
safe is our priority each and every day. With the safety measures
we have put in place at all our sites, we are confident that we can
adapt our business and continue to create long term value for our
stakeholders.”
Global Preventative Measures and
Operational Protocols
- Video on Temperature Checks at Lamaque:
https://youtu.be/3isXXY2gjA4
- Further detail on global preventative measures and operational
protocols put in place:
https://www.eldoradogold.com/responsibility/health-and-safety/Global-COVID-19-Response/default.aspx
About Eldorado Gold
Eldorado is a gold and base metals producer with
mining, development and exploration operations in Turkey, Canada,
Greece, Romania, and Brazil. The Company has a highly skilled and
dedicated workforce, safe and responsible operations, a portfolio
of high-quality assets, and long-term partnerships with local
communities. Eldorado's common shares trade on the Toronto Stock
Exchange (TSX: ELD) and the New York Stock Exchange (NYSE:
EGO).
Cautionary Note about Forward-looking
Statements and Information
Certain of the statements made and information
provided in this press release are forward-looking statements or
information within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. Often, these forward-looking statements and
forward-looking information can be identified by the use of words
such as "plans", "expects", "is expected", "budget", “continue”,
“projected”, "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "believes" or the negatives thereof or variations
of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved.
Forward-looking statements or information
contained in this release include, but are not limited to,
statements or information with respect to: the resumption of
our operations at Lamaque, and the effect that any such resumption
will have on our operations and our financial and operational
results; the ability of the Company to continue with any operations
at Lamaque or our other operations, or to restart or ramp-up these
operations efficiently or economically, or at all, the impact of
COVID-19 on our workforce, suppliers and other essential resources
and what effect those impacts, if they occur, would have on our
business, our planned capital and exploration expenditures; our
expectation as to our future financial and operating performance,
gold price outlook and the global concentrate market; and our
strategy, plans and goals, including our proposed exploration,
development, construction, permitting and operating plans and
priorities and related timelines and schedules.
Forward-looking statements and forward-looking
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information.
We have made certain assumptions about the
forward-looking statements and information, including assumptions
about how the world-wide economic and social impact of COVID-19 is
managed and the duration and extent of the COVID 19 pandemic, the
tonnage of ore to be mined and processed; ore grades and
recoveries; mineral reserves and resources and metallurgical
recoveries, the geopolitical, economic, permitting and legal
climate that we operate in; the future price of gold and other
commodities; exchange rates; anticipated costs and expenses; and
actual production. In particular, except where otherwise
stated, we have assumed a continuation of existing business
operations on substantially the same basis as exists at the time of
this release.
Even though our management believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that the forward-looking statement or information will prove to be
accurate. Many assumptions may be difficult to predict and are
beyond our control.
Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or
information. These risks, uncertainties and other factors
include, among others, the following: the duration and effects of
COVID-19, and any other pandemics on our operations and workforce,
and the effects on global economies and society; geopolitical and
economic climate (global and local), mineral tenure and permits;
gold and other commodity price volatility; recoveries of gold and
other metals; results of test work; revised guidance; mining
operational and development risk; discrepancies between actual and
estimated production, mineral reserves and resources and
metallurgical testing and recoveries; additional funding
requirements; currency fluctuations; speculative nature of gold
exploration; competition; loss of key employees; and defective
title to mineral claims or properties, as well as those risk
factors discussed in the sections titled “Forward-Looking
Statements” and "Risk factors in our business" in the Company's
most recent Annual Information Form & Form 40-F. The reader is
directed to carefully review the detailed risk discussion in our
most recent Annual Information Form filed on SEDAR under our
Company name, which discussion is incorporated by reference in this
release, for a fuller understanding of the risks and uncertainties
that affect the Company’s business and operations.
Forward-looking statements and information is
designed to help you understand management’s current views of our
near and longer term prospects, and it may not be appropriate for
other purposes.
There can be no assurance that forward-looking
statements or information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, you should not
place undue reliance on the forward-looking statements or
information contained herein. Except as required by law, we
do not expect to update forward-looking statements and information
continually as conditions change and you are referred to the full
discussion of the Company's business contained in the Company's
reports filed with the securities regulatory authorities in Canada
and the U.S.
Mineral resources which are not mineral reserves
do not have demonstrated economic viability. With respect to
“indicated mineral resource” and “inferred mineral resource”, there
is a great amount of uncertainty as to their existence and a great
uncertainty as to their economic and legal feasibility. It cannot
be assumed that all or any part of a “measured mineral resource”,
“indicated mineral resource” or “inferred mineral resource” will
ever be upgraded to a higher category.
Except as otherwise noted, scientific and
technical information contained in this press release was reviewed
and approved by Paul Skayman, FAusIMM, Special Advisor to the Chief
Operating Officer for the Company, and a "qualified person" under
NI 43-101.
Contact
Investor RelationsPeter Lekich,
Manager Investor Relations604.687.4018 or
1.888.353.8166 peter.lekich@eldoradogold.com
MediaLouise Burgess, Director
Communications and Government Relations604.601.6679 or
1.888.363.8166louise.burgess@eldoradogold.com
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