Eldorado Gold Operational and Financial Update
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Hedge Portfolio
Managing gold and copper downside price exposure over the next 3-years
Skouries Project Finance Related Hedges
Limited forward sales for delivery on June 30, 2026,
as follows:
•
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Gold: 32,000 ounces of gold at a forward price
of US$2,160 per ounce; and
Copper: 6,160 tonnes of copper at a forward
price of US$8,525 per tonne
Foreign exchange hedging arrangements to fix the
US dollar to Euro exchange rate for a portion of the
Facility repayments.
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Gold Hedges Zero Cost Collar
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Mitigate volatility risk of the gold price during a period
of elevated investment in the Skouries project
As of Nov. 1, 2023: 16,667 ounces settle monthly with
a weighted average put strike price of $1,838 per
ounce and a weighted average call strike price of
$2,718 per ounce
Hedge Tenor
Ounces
(Au)
Put Strike
Price ($/oz)
Call Strike
Price ($/oz)
•
Interest rate swap covering 70% of the variable
interest rate exposure.
Jun.-Dec. 2023
116,699
1,700
2,736
Jan.-Dec. 2024
200,004
1,800
2,765
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For details, please see news release dated April 5,
2023
Jan.-Dec. 2025
200,004
1,900
2,667
Total Gold Hedges: June 2023 - Dec. 2025
516,677 oz
eldorado gold
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