BUZZ-Eldorado Gold Corp: Cuts forecast for 2014 production costs

Fri Aug 1, 2014 10:45am EDT
 
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** Gold miner's shares up 6.4 pct at $7.89

** Lowers 2014 average cash costs for production forecast to $495 per ounce from $550-$590 per ounce

** Forecasts 2014 gold production of 790,000 ounces, above midpoint of previous forecast range of 730,000-800,000 ounces

** Reports Q2 profit of 5 cents per share, in line with average analyst estimate

** Up to Thursday's close, shares had risen 28 percent this year