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

To: FRANK MANUEL who wrote (415)	2/24/1999 1:12:00 PM
From: KMTMAN	Respond to of 527

FRANK I thought this may interest you and the other ELD holders. T Eldorado - Outlook -2: Sees Sao Bento Output At 125,000 Oz VANCOUVER (Dow Jones)--Eldorado Gold Corp. (T.ELD) said it expects to produce 185,000 ounces of gold at an average cash cost of $215 an ounce in 1999. In a news release, the company said devaluation of the Brazilian currency, the real, will allow it to profit further from its investment in the Sao Bento Mine and from the enhancements it has made since 1996. It said it expects to see higher cash flow from the Sao Bento operation in 1999 together with attractive opportunities for further expansion in production and continued cost reduction. The company said gold production in 1999 at the Sao Bento Mine is estimated at 125,000 ounces at a cash cost of $200 an ounce, representing a 19% decrease in cash costs compared with 1998 figures. Eldorado Gold also said cash costs will fall from fourth-quarter 1998 levels of $227 an ounce to about $200 an ounce if the real stabilizes at 1.60 per U.S. dollar. At the La Colorada Mine in Mexico, gold production is projected at 60,000 ounces at a cash cost of $245 an ounce in 1999. This represents steady state production and cash costs when compared with 1998 figures, it said. Eldorado said that, in Turkey, it will continue to develop two key projects out of its portfolio of assets. At the 100%-owned, 1.2 million ounce WT/Efemcukuru gold deposit, it said it has started a development plan, which sees an underground mine and associated processing facility producing gold in the form of a saleable flotation and gravity concentrate. A preliminary feasibility report is expected to be completed by the end of February. At the 100%-owned Kisladag gold project, results from a phase one drill program indicate the presence of a major bulk tonnage gold discovery with drill intercepts of up to 250 meters grading 1.7 grams a ton of gold. Work is currently underway on plans for a follow-up drilling program aimed at detailing the discovery to the level of a confirmed resource. Eldorado is a gold mining company. (END) DOW JONES NEWS 02-15-99 11:29 AM

To: FRANK MANUEL who wrote (415)	2/24/1999 8:02:00 PM
From: KMTMAN	Read Replies (2) \| Respond to of 527

I thought the forum may also be interested in Kaplans predictions for 1999 and beyond; goldminingoutlook.com Spot gold in the third week of April 1999 will be $312, made February 22, 1999. Downside momentum has waned sharply. The target price represents a 10.7% rally from recently retested support. Spot gold August 1999 will be $343, made February 22, 1999. Spot gold July 2000 will be $415, made February 4, 1999. Spot gold May 2001 will be $500, made February 4, 1999. Spot gold February 2002 will be $380, made February 4, 1999. Spot gold in the year 2006 will be $700, made February 4, 1999. Spot gold in the year 2010 will be $1100 or higher, made February 4, 1999.