Eldorado Gold Operational and Financial Update
Future Cash Flow Opportunities
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.
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Retained Exposure to Tocantinzinho (TZ) Project
$
G Mining Ventures (Tocantinzinho)
~18% equity ownership of G Mining
GMIN-TSXV market cap is ~C$537M (Oct 26,
2023)
Deferred cash payment to Eldorado of $60M will be
paid on the first anniversary of TZ commercial
production
G Mining has the option to defer 50% (at a cost of
$5M), in which case $30M is payable on the 1st
anniversary of TZ commercial production, and
$35M is payable on the 2nd anniversary
Project remains on track and on budget for commercial
production in H2 2024
Total project is 51% complete (2)
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TZ Feasibility Study (1) Highlights
After-tax NPV 5% of $622 million and after-tax IRR
of 24% at $1,600/oz gold price
LOM of 10.5 years with average annual gold
production of 174,700 ounces at AISC of $681/oz
Initial capital cost of $458 million
Itaituba
Santarem
Tocantinzinho Project
Pará, Brazil
Tocantinzinho
Mining Claims Highway
Belem Braganca
Breves
Tucurui
Maraba
TOCANTINZINHO
PROJECT
Abaetetub
Jacareacanga
Construction is 46% complete (2)
Source: G Mining Ventures
VRIFY: LINK
eldorado gold
(1) G Mining Ventures Corp. published a Feasibility Study for the TZ Project on February 9, 2022 (LINK)
(2)
As per G Mining Ventures Corp. news release dated September 12, 2023
163)
Conceicao
do Araguaia
0
100 200 300
WGS 84, Mercator
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