Eldorado Gold Corporation

The Eldorado Gold Corporation is a global gold producing company based in Vancouver, Canada. The corporation engages in mining and processing of gold and iron. As of 2008, its income stood at $155.84 million.

The company was established in 1992 under the name Eldorado Corporation Limited. In 1996, the name was changed to Eldorado Gold Corporation. The first mine of the company, the La Colorada Mine, was acquired in 1992. The mining site was depleted in seven years. By 1999, the mine was producing more than 0.065 million ounces per year. The production was subsequently moved to the Gran Central Pit.

The current operational sites are situated in China, Greece, and Turkey. The Kisladag mining site, the largest open pit mine in Turkey, is owned by a Turkish subsidiary of Eldorado Gold. At full capacity, the mine will deliver 0.24 million ounces of gold per year. The Sayacik site is adjacent to the volcanic complex of Kisladag. In 2008, the exploration teams identified four anomalies that will be explored by the end of 2009. The Tanjianshan mine in China contains two deposits, Qinlongtan and Jinlonggou. The total production has reached up to 0.14 million ounces of gold. Further explorations aim at extending the two deposits, together with limited drilling at Jinlonggou North. The drilling teams targeted units of sulphide mineralized phyllites. The Sao Bento Mine in Brazil has been recently sold to AngloGold Ashanti. In addition, the company has undertaken exploration activities at the Tocantizinho site in Brazil, the Tanjianshan site in China, and the Potide Volcanic Belt in Turkey. USA projects cover the Klondike North gold and silver deposits, the Green Monster carlin sediment, the Buffalo Canyon gold and mineralized porphyry, and the Hays Canyon gold mineralization. A ground magnetometer survey is taking place at the Klondike North property. Similar survey is planned for the Buffalo property. The initial geological mapping has identified quartz veins with gold values of 8 g/mt.

The shares of Eldorado Gold are listed under the symbol EGO at the New York Stock Exchange and under the symbol ELD on the Toronto Stock Exchange. At present, the company is a Tier II gold producer.



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