Eldorado Gold Corporation Q2 2009 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2009-07-31 11:32:15.0

Tags: Concentrate, Call Transcript, Earnings, Credit Suisse Group AG, Eldorado Gold Corp., Financial Accounting, Finance, Seeking Alpha

Question-and-Answer Session

Operator

Certainly, sir. (Operator instructions). And the first question is from Anita Soni at Credit Suisse. Please go ahead.

Anita Soni – Credit Suisse

Hi, good morning. Congratulations on a really solid quarter. My question is with respect to the bottlenecks that you referred to at Kisladag. Could you comment on those, Norm and let me know what those are about?

Norm Pitcher

Bottlenecks at Tanjianshan probably?

Anita Soni – Credit Suisse

Yes, sorry, at Tanjianshan.

Norm Pitcher

Yes. Well, it's really – it's concentrate dewatering is the main one. I mean, there is two areas that we need to improve as I alluded to. One is floatation recovery, which we are working on and the other is concentrate dewatering. And on the dewatering side, we are actually putting in a new filter system there to allow us to get more concentrate – to get the concentrate better dewatering were loaded into the roaster basically. The roaster itself is working very well and it's operating just as it should. It's really we just need to get the feed more consistent into it.

Anita Soni – Credit Suisse

Okay. That's it for my questions.

Operator

Thank you. (Operator instructions). And the next question is from David Haughton at BMO Capital Markets. Please go ahead.

David Haughton – BMO Capital Markets

Good morning and thank you. I have a question for you with regards to Efemcukuru. The capital spend was somewhat lighter than expected in the first half and obviously, the rain delays were a part of it. Do you plan to have a significant catch-up in that spend and in the program in the balance of the year?

Norm Pitcher

Yes, we will. Yes, we will catch up to where we thought we'd be.

David Haughton – BMO Capital Markets

And the kind of CapEx figure that I had been assuming, I think, provided on the previous call was about $80 million for the year. Is that still your target?

Paul Wright

Yes, I think we are going to be a bit light on that. I mean, we are just – we were delayed in the first quarter because of rains and in the second quarter, we are finding – I mean two things we are finding. Frankly, there is more cut and fill associated with the – with establishing where the plant is going to go. And the other thing that we are finding, it's such a small footprint that its productivity just is not as high as we would like it to be in that region and so, that's sort of backing things up a little bit. Well, certainly we are going as Norm described. We are going into a higher spend period now.

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement