Eldorado Gold still a buy
After a 97% drop from 2012 highs any gains now are still minuscule in that context, so don't think it can't continue higher.
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.
