Alert set for cross above 200ma (blue line)
Fibonacci upside targets highlighted.
GLD looks set to move much higher , this may be the start of a new cycle.
Company earnings highlights - Source seeking alpha
Eldorado Gold (NYSE:EGO) +8.2% pre-market after narrowly missing Q4 earnings expectations while revenues more than doubled to $192M, and announces a mine life extension for its Kisladag mine in Turkey.
Eldorado says completed long-cycle heap leach testwork indicates increased heap leach life of mine recovery at Kisladag to ~56% and extends mine life by 15 years through 2034.
On an unadjusted basis, Q4 net earnings swung to a $91.2 M profit, mainly attributable to the net $85.2M Kisladag impairment reversal, compared with a $218.2M loss in the year-ago quarter.
Eldorado says 118.9K oz. of gold production in Q4 was the highest quarterly result in nearly four years, and all-in sustaining costs fell to $1,110/oz. from $1,200/oz. sold in the prior-year period.
For the full year, gold production rose 13% Y/Y to 395,331 oz., the company's highest result in three years, at AISC of $1,033/oz. from $994/oz. sold for 2018.
For 2020, the company sets gold production guidance at 520K-550K oz., a 35% Y/Y increase at the midpoint, at AISC of $850-$950/oz. sold.