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Gold/Mining/Energy : Eldorado -- Ignore unavailable to you. Want to Upgrade?

To: Martin Wormser who wrote (466)	10/5/1999 3:56:00 PM
From: Don Dalrymple	Read Replies (1) \| Respond to of 527

yes it is a nice thought of this stock going up especially when i grabbed some at .29 a while back

To: Martin Wormser who wrote (466)	10/13/1999 2:36:00 PM
From: Alex	Respond to of 527

Eldorado Gold Kisladag reserves (Full text of press release from BCE Emergis E-News) Eldorado Announces Interim Kisladag Resource Of 3.4 Million Ounces Eldorado Gold Corporation (the "Company" or "Eldorado") (TSE,VSE: "ELD") has completed the 1999 Drilling Program at its 100% owned Kisladag gold project located in western Turkey. The Company is pleased to announce the results of an initial resource calculation for the deposit, which has estimated 3.4 million ounces of contained gold. The Company has also carried out preliminary metallurgical testwork on Kisladag material to evaluate the metallurgical response, with encouraging results. The results from the first 12 drill holes in this program were reported on August 19, 1999. These confirmed the presence of a large porphyry gold system containing a higher-grade core zone. The balance of the program has further defined this system while exploring the deposit at depth, providing Eldorado with the information necessary to prepare a resource estimate. Resource Estimate A resource estimate has been prepared by Micon International Ltd. in conjunction with Eldorado. Data from earlier trenching, short hole percussion drilling and the 1998 and 1999 core drilling programs have been compiled into a resource model using Gemcom software. Resource classification and estimation has been prepared according to the Australian JORC Code at a cut off grade of 0.8g/t. The results are presented in Table 1 below: Table 1 Kisladag Resource Estimate -------------------------------------------------------------- Classification Tonnes Grade (g/t) Contained oz. Au -------------------------------------------------------------- Measured 2,510,000 1.70 137,200 -------------------------------------------------------------- Indicated 40,300,000 1.48 1,917,800 -------------------------------------------------------------- -------------------------------------------------------------- Measured & Indicated 42,810,000 1.49 2,055,000 -------------------------------------------------------------- -------------------------------------------------------------- Inferred 31,100,000 1.35 1,350,000 -------------------------------------------------------------- -------------------------------------------------------------- Total MI&I 73,910,000 1.43 3,405,000 -------------------------------------------------------------- Approximately 17% of the estimated 73,910,000 tonne Resource is oxide with the balance a mixture of transitional and sulphide material. Geology The principal host rock for the mineralization is a medium grained andesitic crystal tuff. This has been intruded by a weakly mineralized micro-diorite stock, approximately 250m in diameter. The highest grades in the deposit are found in structurally controlled zones (E-W and WNW-ESE) around the margins of the intrusive. A northeast trending post mineral fault has been identified that down faults the main mineralized zone on the East Side of the deposit. Drill Results The drill program carried out at Kisladag during July and August 1999 consisted of 5,000 meters of HQ core drilling over a total of 22 drill holes. Figure 1 illustrates the location of the drill holes completed during this program relative to the overall mineralized zone as currently defined. Results from the first 12 drill holes (GC 39-GC 53) previously reported on August 21, 1999 have been included in the following table (Table 2) with significant intercepts for the balance of the program (GC 54 to GC61). Table 2 Kisladag Drill Hole Intercepts --------------------------------------------------------------- Hole - ID Total Location Location Azimuth Dip Length Easting Northing Degrees Degrees Meters --------------------------------------------------------------- Previously Announced --------------------------------------------------------------- GC-39 162.0 687625 4261650 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- Including --------------------------------------------------------------- Including --------------------------------------------------------------- GC-40 249.1 687527 4261585 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- Including --------------------------------------------------------------- GC-41 153.8 687522 4261710 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- GC-42 216.7 687418 4261770 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- GC-43 152.2 687317 4261807 360 -60 --------------------------------------------------------------- GC-44 156.3 686371 4262382 360 -60 --------------------------------------------------------------- GC-45 250.3 686565 4261485 360 -60 --------------------------------------------------------------- GC-46 243.0 687325 4261665 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- Including --------------------------------------------------------------- GC-47 201.0 687623 4261415 360 -60 --------------------------------------------------------------- GC-48 150.0 687533 4261501 180 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- GC-49 250.0 687427 4261627 180 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- GC-51 150.0 687125 4261550 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- GC-52 223.5 687232 4261644 360 -60 --------------------------------------------------------------- GC-53 300.0 687521 4261776 180 -64 --------------------------------------------------------------- Including --------------------------------------------------------------- Including --------------------------------------------------------------- Recent Results --------------------------------------------------------------- GC-54 220.5 687773 4261667 180 -60 --------------------------------------------------------------- GC-55 180.0 687779 4261511 180 -60 --------------------------------------------------------------- GC-56 200.0 687234 4261541 180 -60 --------------------------------------------------------------- GC-57 270.0 687328 4261603 180 -50 --------------------------------------------------------------- GC-58 202.1 687632 4261551 360 -60 --------------------------------------------------------------- Including --------------------------------------------------------------- GC-59 270.0 687421 4261888 180 -55 --------------------------------------------------------------- GC-60 223.4 687320 4261907 180 -60 --------------------------------------------------------------- GC-61 420.0 687521 4261780 180 -80 --------------------------------------------------------------- Including --------------------------------------------------------------- Including --------------------------------------------------------------- --------------------------------------------------------------- Hole - ID Intercept Gold Grade --------------------------- From To Length Grams/Tonne Meters Meters Meters --------------------------------------------------------------- Previously Announced --------------------------------------------------------------- GC-39 2.0 162.0 160.0 1.54 --------------------------------------------------------------- 13.8 26.3 22.5 1.90 --------------------------------------------------------------- 51.3 79.6 28.3 2.24 --------------------------------------------------------------- 109.6 131.3 21.5 1.82 --------------------------------------------------------------- GC-40 1.9 249.0 247.1 3.23 --------------------------------------------------------------- 191.0 249.0 58.0 4.27 --------------------------------------------------------------- 223.3 249.0 26.0 5.39 --------------------------------------------------------------- GC-41 4.0 153.8 149.8 0.90 --------------------------------------------------------------- 110.2 144.7 34.5 1.62 --------------------------------------------------------------- GC-42 1.5 216.7 215.2 0.88 --------------------------------------------------------------- 97.0 162.0 65.0 1.22 --------------------------------------------------------------- GC-43 2.0 152.2 150.2 0.51 --------------------------------------------------------------- GC-44 Exploration hole N/S --------------------------------------------------------------- GC-45 Exploration hole N/S --------------------------------------------------------------- GC-46 4.0 243.0 239.0 0.68 --------------------------------------------------------------- 107.0 134.7 27.7 1.79 --------------------------------------------------------------- 198.6 224.5 28.4 1.35 --------------------------------------------------------------- GC-47 2.0 201.0 199.0 0.29 --------------------------------------------------------------- GC-48 1.6 150.0 148.4 1.68 --------------------------------------------------------------- 9.1 64.1 55.0 2.30 --------------------------------------------------------------- GC-49 2.0 249.4 247.4 0.41 --------------------------------------------------------------- 2.0 32.0 30.0 0.85 --------------------------------------------------------------- GC-51 0.5 150.0 149.5 0.66 --------------------------------------------------------------- 17.7 80.0 62.3 0.90 --------------------------------------------------------------- GC-52 2.0 183.5 181.5 0.57 --------------------------------------------------------------- GC-53 2.5 300.0 297.5 1.99 --------------------------------------------------------------- 125.7 274.9 154.2 3.31 --------------------------------------------------------------- 168.1 274.9 106.8 4.21 --------------------------------------------------------------- Recent Results --------------------------------------------------------------- GC-54 119.0 220.5 101.5 1.15 --------------------------------------------------------------- GC-55 5.1 151.0 145.9 0.67 --------------------------------------------------------------- GC-56 0.0 198.0 198.0 1.31 --------------------------------------------------------------- GC-57 156.6 270.0 113.4 1.20 --------------------------------------------------------------- GC-58 6.0 202.1 196.1 0.80 --------------------------------------------------------------- 155.5 202.1 46.6 1.36 --------------------------------------------------------------- GC-59 47.5 284.6 237.1 1.55 --------------------------------------------------------------- GC-60 102.6 223.4 120.8 0.43 --------------------------------------------------------------- GC-61 2.0 124.9 122.9 0.58 --------------------------------------------------------------- 124.9 360.0 235.1 1.93 --------------------------------------------------------------- 124.9 220.0 95.1 3.30 --------------------------------------------------------------- A cross section of the higher-grade portion of the deposit is shown in Figure 2. This previously reported section 7525E shows the higher-grade core zone, which has been tested at depth by hole GC 61, drilled to 420 meters. This hole intersected 95 meters of 3.3 g/t beginning at 125 meters depth. It confirms the presence of the higher-grade zone and indicates its possible extension to the north. A biotite-rich altered intrusive zone encountered in the bottom of the hole is considered to be associated with the deflection of the higher-grade mineralization towards the north, at depth. Cross section 7325E (Figure 3) illustrates the weakly mineralized micro-diorite stock that splits the mineralized ore zone into north and south limbs. The southern limb of the deposit is open to the south at depth, shown by the drill results on sections 7525E and 7325E. Quality Control Sampling and logging procedures continue to follow guidelines established by the Company and endorsed by Micon International Ltd. Core is logged by Eldorado prior to splitting and sample preparation at its facilities in Turkey. Sample pulps including standards, duplicates and blanks are then transported to Chemex Labs in Vancouver for analysis by fire assaying methods. Chemex Labs is registered to ISO 9002 standard, and employs quality control programs throughout the analysis procedure. Additional check assays are carried out at ITS-Bondar Clegg Ltd. in Vancouver. Confirmatory data from the assay checks is incorporated into the geostatistical analysis used by Micon International Ltd. in the resource estimation. Metallurgical Testing Preliminary metallurgical test work on Kisladag material is being carried out by Lakefield Research Ltd. Metallurgical samples have been selected from drill core, composited into representative samples of oxide and sulphide materials, then shipped to Lakefield for analysis. Analysis to date has focused on characterizing the mineralogy and gold association of the Kisladag material. Laboratory testwork has concentrated on preliminary evaluations of alternative process options, encompassing both milling and leaching technology. Kisladag materials have been subjected to conventional cyanide leach tests and flotation trials. Oxide material has responded very well to leaching, achieving gold recovery in excess of 95%. Leaching of the sulphide material has produced gold recoveries in the range of 78% - 87%. Initial flotation response has been encouraging and work continues to develop alternative approaches to concentrate and tailing treatment. Work Plan Upon completion of the first phase of metallurgical testwork in November, scoping studies will be initiated to develop and assess alternative development concepts appropriate for the Kisladag project. In conjunction with these engineering studies, a technical program will be developed which presently envisions further fieldwork in 2000. Commenting on the 1999 Drill Program and accompanying resource estimate, Paul Wright, President and Chief Executive Officer said, "These results have satisfied our objectives of the work program, in providing a well defined, initial resource base to expand from. The Company is confident in its belief that further drilling, designed to define the limits of Kisladag, provides opportunity for significant resource enhancement." ON BEHALF OF ELDORADO GOLD CORPORATION "Paul N. Wright" Paul N. Wright President and Chief Executive Officer * Graphic attachments are available at the Company's website or upon request after 10:00 a.m. Pacific Standard Time. Eldorado Gold Corporation's shares (Symbol: ELD) trade on the Toronto Stock Exchange ("TSE") and the Vancouver Stock Exchange ("VSE"). Neither the TSE, nor the VSE have approved or disapproved the form or content of this release. Investor Relations Contacts: Tel: (604) 687-4018 and 1-888-ELD-8166 Fax: (604) 687-4026 www.eldoradogold.com Suite 920 - 1055 West Hastings Street, Vancouver, British Columbia, Canada V6E 2E9 For related news, double click on one of the following codes: [ISD] [CA] [LEN] [ELD.TO\c] For related price quotes, double click on one of the following codes: (Toronto:ELD.TO - news) Wednesday, 13 October 1999 08:33:48

To: Martin Wormser who wrote (466)	11/4/1999 10:29:00 PM
From: Alex	Respond to of 527

Eldorado Gold Corporation - Second Quarter Operating Results / Record Quarterly Production at a Cash Cost of $199/Oz VANCOUVER, BRITISH COLUMBIA (all figures in United States dollars)Eldorado Gold Corporation (the ``Company' or ``Eldorado') today announced its production and cost statistics for the second quarter of 1999 (see attached Production Highlights). In the quarter, 52,442 ounces of gold were produced at a cash cost of $199/oz. This compares with 50,647 ounces at a cash cost of $251/oz in the second quarter of 1998. The Company's operating cash cost rose by 11%, or $20/oz, from $179/oz in the first quarter of 1999, and over the same period the total cash cost increased by $21/oz, from $185 to $206/oz. Eldorado's hedge position provided an average gold price of $312/oz in the second quarter resulting in a contribution margin, the difference between revenue and total cash cost, of $106/oz, or $5.6 million.In Brazil, at the Sao Bento Mine, gold production during the second quarter was 32,801 ounces compared to 29,748 ounces in the first quarter of 1999. Operating cash costs for the second quarter of 1999 were maintained at $178/oz, compared to $255/oz in the second quarter of 1998. In Mexico, at the La Colorada Mine, gold production during the second quarter was 19,641 ounces compared to 16,363 ounces in the first quarter of 1999. Operating cash costs increased to $233/oz, compared with $180/oz in the first quarter of 1999 but were lower compared to a cost of $235/oz in the second quarter of 1998. The Sao Bento Mine's performance compared favourably with the previous quarter as a result of slightly higher grade and improved plant throughput. Increased production at La Colorada largely reflected the high rate of gold placement in the first quarter, while unit costs were adversely affected predominantly by an increase in material movement associated with developing Gran Central and La Colorada pits.The second quarter operating performance remains consistent with the Company's 1999 plan to produce 190,000 ounces at a cash cost of $202/oz.ON BEHALF OF ELDORADO GOLD CORPORATION``Hugh C. Morris' Hugh C. Morris Chief Executive OfficerEldorado Gold Corporation's shares (Symbol: ELD) trade on the Toronto Stock Exchange (``TSE') and the Vancouver Stock Exchange (``VSE'). Neither the TSE, nor the VSE have approved or disapproved the form or content of this release. Investor Relations Contacts: Tel: (604) 687-4018 and 1-888-ELD-8166 Fax: (604) 687-4026 www.eldoradogold.com Suite 920 - 1055 West Hastings Street, Vancouver, British Columbia, Canada V6E 2E9 PRODUCTION HIGHLIGHTS --------------------------------------------------------------- First Second Second First First Quarter Quarter Quarter Six Six 1999 1999 1998 Months Months 1999 1998 --------------------------------------------------------------- Gold Production Ounces 46,111 52,442 50,647 98,553 94,172 Cash Operating Cost ($/oz) 179 199 251 190 253 Total Cash Cost ($/oz)1 185 206 260 197 262 Total Production Cost ($/oz)2 266 273 323 268 328 Realized Price ($/oz) 321 312 352 316 350 --------------------------------------------------------------- Sao Bento Mine, Brazil Ounces 29,748 32,801 28,678 62,549 53,970 Tonnes to Mill 120,109 144,524 131,636 264,633 244,138 Grade (grams / tonne) 8.19 8.34 7.09 8.28 7.34 Cash Operating Cost ($/oz) 178 178 255 179 263 Total Cash Cost ($/oz)1 184 186 264 185 271 Total Production Cost ($/oz)2 262 245 328 251 336 --------------------------------------------------------------- La Colorada Mine, Mexico Ounces 16,363 19,641 16,596 36,004 28,466 Tonnes to Leach Pad 488,775 722,531 728,583 1,211,306 1,396,829 Grade (grams / tonne) 1.54 0.88 0.83 1.14 0.93 Cash Operating Cost ($/oz) 180 233 235 209 236 Total Cash Cost ($/oz)1 187 241 245 216 246 Total Production Cost ($/oz)2 272 320 302 298 311 --------------------------------------------------------------- La Trinidad Mine, Mexico3 Ounces - - 5,373 - 11,736 Tonnes to Leach Pad - - 167,810 - 353,136 Grade (grams / tonne) - - 1.02 - 1.32 Cash Operating Cost ($/oz) - - 273 - 247 Total Cash Cost ($/oz)1 - - 280 - 254 Total Production Cost ($/oz)2 - - 348 - 332 ---------------------------------------------------------------- 1 Cash Operating Costs plus royalties and the cost of off-site administration. 2 Total Cash Cost plus depreciation, amortization and reclamation. 3 La Trinidad mine was placed in a care and maintenance mode in the third quarter of 1998 the result of low gold prices and severe weather conditions. SOURCE: ELDORADO GOLD CORPORATION

To: Martin Wormser who wrote (466)	12/20/1999 12:48:00 PM
From: Alex	Respond to of 527

Eldorado Gold Corporation - Milestones Reached At Kisladag Vancouver, British Columbia-- Eldorado Gold Corporation (TSE / CDNX : ELD) is pleased to announce that it has achieved two significant milestones in the development of the 100% owned Kisladag gold project located in Usak province in western Turkey. The receipt of a Site Selection Permit and the signing of a Letter of Intent with representatives of Usak province are viewed as major steps forward in the process of developing Kisladag. Site Selection Permit A Site Selection Permit has been approved and issued by the Province of Usak for the Kisladag gold project. The Site Selection Permit process established the legal basis on which changes to land use policies, reflecting the needs of a mining project, can be made. Designated Provincial and Federal government agencies reviewed the application and approved of the proposed changes. The Kisladag permit defines an area of sufficient size to accommodate open pit mining and the infrastructure required for CIL and heap leach recovery processes. Now that the Site Selection Permit has been received, Eldorado will initiate environmental baseline studies leading to an environmental impact study. Receipt of a positive Environmental Impact Assessment Certificate will constitute the next significant milestone in the permitting process. Local Participation A Letter of Intent has been signed between Tuprag Madencilik (100% owned subsidiary of Eldorado) and representatives of the province of Usak, to establish a Provincial Foundation, which will participate in the development of the Kisladag gold project. The Foundation will actively support the efforts of Eldorado to bring Kisladag into production, thus generating the opportunity for the people of Usak province to participate in the project. Financial benefit to the Province will be derived from a net profits interest, the level of which will be established after completion of a positive feasibility study. Signatories from the Province of Usak include the Provincial Governor, Federal Deputy and local Mayors. Eldorado believes achievement of these milestones demonstrates a high level of support for the Kisladag project. It also demonstrates the importance the people of Usak place on development of their resource industry and the renewed efforts within Turkey to encourage investment in the mining sector. The Company released details of the resource estimate for Kisladag on October 12 1999, which defined a total gold resource of 3.4 million ounces. Work will continue in 2000 to further define and expand the resource with additional drilling, to support initiation of a prefeasibility study later in the year. Eldorado Gold Corporation is a Vancouver based gold mining company that trades on the Toronto Stock Exchange. The Company expects to produce 190,000 ounces of gold in 1999 from its mines in Brazil and Mexico. Eldorado is committed to expansion through ongoing development of its advanced stage projects, in particular the Efemcukuru and Kisladag properties, in Turkey. Paul Wright, President and Chief Executive Officer, commenting on the Kisladag Project said, "The Company is extremely pleased with the significant progress made in advancing the Kisladag project. The enthusiastic support evidenced in the Province of Usak and the resultant co-operative relationships being developed augur well for the continued timely development of this major project." ON BEHALF OF ELDORADO GOLD CORPORATION "Paul Wright" Paul N. Wright President and Chief Executive Officer This and other news releases complete with graphic attachments are available at the Company's website or may be acquired by fax or mail upon request Eldorado Gold Corporation's shares (Symbol: ELD) trade on the Toronto Stock Exchange ("TSE") and the Canadian Venture Exchange ("CDNX"). Neither the TSE, nor the CDNX have approved or disapproved the form or content of this release. Investor Relations Contacts: Tel: (604) 687-4018 and 1-888-ELD-8166 and e-mail info@eldoradogold.com Fax: (604) 687-4026 Website Address: www.eldoradogold.com Suite 920 - 1055 West Hastings Street, Vancouver, British Columbia, Canada V6E 2E9 fin-info.com

To: Martin Wormser who wrote (466)	2/7/2000 1:25:00 PM
From: Alex	Read Replies (1) \| Respond to of 527

ELD rec............ Funds bet on brighter days for gold miners By Brian Spoors LONDON, Feb 7 (Reuters) - Long-suffering investors in gold mining funds could be about to enjoy the benefits of a sustained bullion price rally, fund managers said on Monday. Gold prices leapt $23 per ounce to their highest level in three months at $316.60 at Monday's official fixing amid rumours of strife in the bond market, hints of higher inflation and signs of strong global growth. ``There is going to be a very good recovery in a lot of the stocks, especially medium and smaller producers,' said Kjeld Thygesen, director of fund manager Lion Resource Management Ltd. Specialist gold investors suffered through a long decline in the precious metel to a 20-year low of $251.70 last September. Significantly the impetus for higher prices came from within the industry, investors said. Late on Friday, the world's fifth largest gold miner Canada's Placer Dome Inc (Toronto:PDG.TO - news) said it was abandoning hedging its production in anticipation of higher gold prices and urged other producers to do the same. On Monday, the world's largest gold miner AngloGold announced it was cutting its hedge book and North America's second largest gold miner Barrick Gold Corp (Toronto:ABX.TO - news) was expected to follow suit. ``The industry itself now seems to be taking a more positive view on the gold prices which was always missing in the past,' said Neil Gregson a gold fund manager at Credit Suisse First Boston Asset Management. ``I think Barrick really does have to say something that is positive for the gold price becasue if they come out and say they are going to continue to hedge as normal, then you will see a pretty big move in investors selling Barrack shares for (others) that have got some more leverage,' he added. Hedging allows a company to guard against a fall in gold prices by selling future production at a fixed price. It can pay handsome dividends when confidence in gold is declining. But it backfires when prices rise and its critics say it depresses spot prices by increasing the gold flow to the market. SECOND-LINE PRODUCERS FAVOURED Now, investors are positioning to take advantage of gold price could holding above $300 per ounce. Thygesen advocated exposure to medium sized and newer mines like Kinross Gold (Toronto:K.TO - news) in canda and El Dorando (Toronto:ELD.TO - news) which operates mainly in South America. ``The majors lead the way because when the general funds want a bit of exposure, they have got the liquidity to get reasonably sizable amounts of money into,' he added. Also putting pressure on gold prices recently were the eclipse of its role as a safe haven against world crises and inflation and central banks selling bullion from reserves. But last September, gold stuttered back to life when the European central banks agreed a disposal programme of their surplus bullion reserves. Gold has traded in wild swings in the past year, soaring to a high of $326.25 and a low of $251.70. ``If people are brave enough to have money in these volatile funds then the last thing they want is to see the gold price go up and them not to be participating,' said Graham Birch who runs the Mercury Asset Management natural resources funds. Credit Suisse First Boston's Gregson saw the bullion rally typically taking time to spead through equities. ``The big liquid stocks will perform very well and some of the selected, well known names around the world that are bombed out will be marked up fairly sharply,' he said. ``I imagine it will be some time before the junior end of the markets picks up. Investors would be taking much less risk investing with the larger market cap companies,' he said. On Monday afternoon, AngloGold shares were up 13 percent at 355 South African rand and in early trading in Toronto, Placer Dome had gained six percent at Can$16.60 and Barrick Gold was up nearly five percent at Can$27.70. -------------------------------------------------------------------------------- biz.yahoo.com