Eldorado Gold Corp (USA) (NYSE:EGO) Presents At Scotiabank Mining Conference


Dallas, Texas 12/31/2013 (FINANCIALSTRENDS) – Sales Pitch By Its President

Norman Pitcher, President of  Eldorado Gold Corp (USA) (NYSE:EGO), while presenting to investors in the first week of December painted a very bright picture about the company’s progress over the past few years in these words quoted below, “We are a low cost operator; with a experienced management team. We got a solid resource and reserve base, about 28 million ounces development in apparent reserves right now. We also boast of a transparent dividend policy. We are up over 700,000 ounces production this year. Over the past five years, we have doubled production. We have increased production from sort of plus 300,000 ounces in 2009 to where we are today up over 700,000 estimated for 2013”. These and other attempt by the management of the firm to talk up their company’s performance has been a familiar sight amongst the various investor’s meet they have been attending in the past six months.

Stock Market Performance

The executive team has been forced to get on the road with their sales pitch because the stock of Eldorado Gold Corp (USA) (NYSE:EGO) has been struggling to enter the green territory at the stock markets in the past 52 weeks. In fact in the trailing 12 months, the stock has posted net loss of 55.4 percent. Even in the medium term, over the past six months, the stock has shed close to 11.4


percent and this haemorrhage continues even in the past one month time frame when it has lost close to 6.28 percent. When trading was stopped for the day yesterday, it was trading at $5.52 per share which meant a 3.16 percent dip from its previous day close. At these depreciated price points, the stock is trading just 3.1 percent above its prior 52 week price points. The stock has been range bound between $5.35 and $13.19 per share over the past one year. Investors in the stock would be hoping that the efforts being put in by the management of the stock would help attract some of the institutional investors, thereby help the share price of the stock get back on road to reach the analyst predicted price target of $9.11 per share.

Global Spread and Reach

Eldorado Gold Corp (USA) (NYSE:EGO) mining operations are spread right across the globe. Starting with its huge and still growing investments in China, it has operations spread across Europe and South America. In China, it operates the Tanjianshan mine and also finished acquiring a new mine called Jinfeng from another mining firm Sino Gold. It also has been operating the White Mountain underground mine along with Eastern Dragon development project in northern China.


In Europe, it has its mining operations in Turkey where it owns the open pit mine Kişladağ along with the Efemçukuru property which lies across the Western coast of Turkey. It also owns mines in Greece  and Romania. A clear indication of Eldorado Gold Corp (USA) (NYSE:EGO) determination to go where the good mining properties are located is also expounded by the fact that it has extensive operations in Brazil. From these operations, Eldorado Gold Corp (USA) (NYSE:EGO) has managed to post net sales of $1.24 billion over the past 12 months and garnered net income of $188 million in the same period.

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