Can you give an overview of Eldorado Gold and highlight the company’s recent activities and milestones achieved?

Eldorado Gold has a diversified portfolio of assets across Canada, Greece, and Turkey, with a strong pipeline of strategic growth projects. In addition to gold, we have silver, lead, and zinc as byproducts, and will be adding copper to our portfolio with our Skouries project in Greece.

We continue to advance the assets in our portfolio and are particularly excited about developments at the Skouries project, where we have raised the capital to complete the construction of this transformational asset.

In Canada, we have great upside potential at the Lamaque mine in Québec, where we started commercial production in April 2019. For the remainder of 2023, we are focusing on the completion of detailed in-fill drilling at the Ormaque deposit at Lamaque, with the expectation of announcing a maiden reserve in 2024.

What is Eldorado’s growth strategy moving forward?

While the Skouries project is our major focus internationally, we’re excited about the potential we’re seeing in Canada and Québec as well. The new results at the Ormaque deposit continues to demonstrate the potential to increase resources, supporting future development plans in Québec. We are also seeing significant interest from junior miners in using our Sigma mill to process their ore, as the Lamaque operation is surrounded by many neighbors who have made some good discoveries. We currently have a recovery rate of more than 97%, which is quite attractive to juniors. We are in many discussions on how we could potentially partner or collaborate to continue building a safe, sustainable, and high-quality gold mining sector in Québec.

Can you elaborate on Eldorado’s approach to sustainability and the company’s relationship with the First Nations in Val-d'Or?

I’m pleased to say that since Eldorado started production at Lamaque in 2019, we have been able to build solid relationships with stakeholders, First Nations, and authorities in Québec. We recognize we have a responsibility to meaningfully consult First Nations and communities, and provide equitable access to employment, training and educational opportunities.

We have set a target to mitigate our Scope 1 and Scope 2 GHG emissions company-wide by 30% from 2020 levels by 2030, which is equal to approximately 65,000 tonnes of carbon dioxide equivalent. The Sandvik electric vehicles are the next step in working towards that goal, and we look forward to incorporating more BEVs into our fleets.

How do you see underground mining trends shaping in the coming years?

To achieve better grades, mines continue to go deeper underground. We are excited about what we continue to see at depth at Lamaque, and Eldorado has invested CAD$24 million in a declining project, connecting the Sigma mill and the 405 m level of the Triangle mine. This decline eliminates surface re-handling of ore and does away with an approximate 26 km roundtrip to haul ore from the Triangle mine to the Sigma mill. This improves both energy efficiency and productivity. We have also conducted alternative materials handling trade-off studies at a PEA level which indicate a potential for reducing costs, equipment, and ventilation requirements, while at the same time reducing greenhouse gas emissions.

What makes Québec unique as a mining jurisdiction?

Québec is a mature mining jurisdiction that offers great expertise. There is a great supplier base, including the likes of Sandvik and Caterpillar, and there is excellent government support in recognition of the economic benefits of the mining sector. Sustainable mining practices are made easier by the availability of hydropower in Québec. There is also the opportunity to empower communities and continue building a strong workforce through engaging and collaborating with the First Nations.

What are Eldorado’s key objectives in Québec in 2023 and heading into 2024?

As Québec is a favorable mining jurisdiction, many companies are competing for limited talent. Eldorado is focused on not only retaining the great talent we have but also developing this talent so people can step up in the organization. We will hire graduates and train them so that they can grow within the company.