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Eldorado Gold Publishes 2024 Sustainability Report; Sustainability From the Ground Up
GlobeNewswire News Room· 2025-05-13 21:00
Core Viewpoint - Eldorado Gold Corporation has published its 2024 Sustainability Report, highlighting its commitment to environmental, social, and governance (ESG) performance over the past year [1][2]. Sustainability Framework - The company integrates sustainable practices across all operations, from exploration to post-closure, supported by its Sustainability Integrated Management System (SIMS) [3]. - In 2024, Eldorado completed SIMS compliance verifications at its Kisladag and Efemcukuru sites in Turkiye, marking a significant achievement in sustainability verification [3]. Report Highlights and Achievements Safe, Inclusive and Innovative Operations - The company has achieved a 30% reduction in total recordable injury frequency rate, decreasing from 4.65 in 2023 to 3.24 in 2024 [7]. - Eldorado has maintained zero fatalities across its global sites for seven consecutive years, emphasizing its commitment to a safety-first culture [7]. Engaged and Prosperous Communities - The company achieved 98% employment from the countries in which it operates, with 82% of employees sourced from local communities [7]. - Eldorado invested over $4.4 million in community initiatives, focusing on education, health, and economic development [7]. Healthy Environments Now and for the Future - The company has successfully reclaimed 288,000 tonnes of historical tailings and contaminated materials as part of its environmental commitment [13]. - Eldorado has planted over 118,000 indigenous plants, contributing to local reforestation efforts [13]. Responsibly Produced Products - The metals produced by Eldorado are essential for modern economies and contribute to financial systems [9]. Governance and Diversity - As of December 31, 2024, 50% of the Board of Directors and 40% of the senior management team are women, reflecting the company's commitment to diversity [7]. External Recognition - Eldorado was recognized as one of 30 companies in the Globe & Mail's 'Road to Net Zero', highlighting its efforts towards achieving net-zero emissions [13].
Eldorado Gold Announces Amended Normal Course Issuer Bid
GlobeNewswire News Room· 2025-05-01 21:41
Core Viewpoint - Eldorado Gold Corporation has announced an amendment to its normal course issuer bid (NCIB), increasing the maximum number of common shares that may be repurchased from 350,000 to 10,245,474, which is approximately 5% of the total shares outstanding as of October 31, 2024 [2][4]. Summary by Sections NCIB Details - The NCIB purchases began on November 8, 2024, and will conclude by July 31, 2025. As of April 30, 2025, the company has repurchased 224,000 shares at an average price of $22.60 per share [3]. - Daily repurchases on the TSX will not exceed 83,123 shares, which is 25% of the average daily trading volume for the six months ended October 31, 2024 [5]. Rationale for Repurchase - The company believes that the market price of its shares may not fully reflect their long-term value, making the repurchase an attractive use of available funds given the strong balance sheet and ongoing cash generation in a high gold price environment [4]. Share Management - Up to 9,895,474 shares repurchased under the NCIB will be cancelled, while up to 350,000 shares will remain outstanding and held in trust for the company's restricted share unit plan [5]. - The company has entered into an amended automatic repurchase plan with its designated broker to facilitate purchases during certain pre-determined black-out periods [6]. Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece, and is committed to enhancing shareholder returns through programs like the NCIB [8].