The gold producer announced it expects the project to produce 135,000 ounces of gold and 800,000 ounces of silver per year, assaying about 15% gold and 85% silver. Overall recovery of the precious metals from the Certej ore via the pressure oxidation process will be 87.4% for gold and 80% for silver.
Eldorago Gold believes it can exploit other resources in the region and use Certej as a platform to develop more business in Romania and Eastern Europe.
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TheStreet Ratings team rates ELDORADO GOLD CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: