ego 20231231 d2

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# ego 20231231 d2

Source: https://www.sec.gov/Archives/edgar/data/918608/000091860824000006/ego-20231231_d2.htm
Published: 2023-12-31T00:00:00+00:00
Fetched: 2026-05-05T09:28:22.688+00:00
Source artifact: 4c0372d9-4a3d-4bea-a72b-6a0631406ca0
Normalizer input: text

## Content

# ego 20231231 d2
ego-20231231_d2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 40-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 þ ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2023 Commission file number: 001-31522 ELDORADO GOLD CORPORATION (Exact Name of Registrant as Specified in its Charter) CANADA (Province or other jurisdiction of incorporation or organization) 1040 (Primary Standard Industrial Classification Code Number (if applicable)) N/A (I.R.S. Employer Identification Number (if Applicable)) 1188 – 550 Burrard Street Bentall 5 Vancouver , British Columbia Canada V6C 2B5 604 - 687-4018 (Address and Telephone Number of Registrant’s Principal Executive Offices) CT Corporation System 28 Liberty Street, 42nd Floor New York , New York 10005 ( 212 ) 894-8940 (Name, Address (Including Zip Code) and Telephone Number (Including Area Code) of Agent For Service in the United States) Copies to: James B. Guttman Dorsey & Whitney LLP 161 Bay Street, Suite 4310 Toronto, Ontario M5J 2S1 (416) 367-7376 Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of each class Common Shares, no par value Trading Symbol(s) EGO Name of each exchange on which registered NYSE Securities registered or to be registered pursuant to Section 12(g) of the Act: N/A Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: N/A For annual reports, indicate by check mark the information filed with this form: x Annual Information Form    x Audited Annual Financial Statements Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: As at December 31, 2023, 203,138,351 common shares of the Registrant were issued and outstanding. Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. x Yes      ¨ No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x Yes      ¨ No Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act. Emerging growth company ¨ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.           ¨ † The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. x If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ¨ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-(b). ¨ EXPLANATORY NOTE Eldorado Gold Corporation (the “Company” or the “Registrant”) is a Canadian issuer eligible to file its annual report pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on Form 40-F pursuant to the multi-jurisdictional disclosure system of the Exchange Act. The Company is a “foreign private issuer” as defined in Rule 3b-4 under the Exchange Act. The equity securities of the Company are accordingly exempt from Sections 14(a), 14(b), 14(c), 14(f) and 16 of the Exchange Act pursuant to Rule 3a12-3 of the Exchange Act. FORWARD-LOOKING STATEMENTS Certain of the statements made and information provided in this annual report on Form 40-F are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates,” “believes,” “budgets,” “continue,” “commitment”, “confident,” “estimates,” “expects,” “forecasts,” “foresee,” “future,” “goal,” “guidance,” “intends,” “opportunity,” “outlook,” “plans,” “potential,” “project,” “prospective,” “scheduled,” “strive,” or “target” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “can,” “could,” “likely,” “may,” “might,” “will” or “would” be taken, occur or be achieved. Forward-looking statements or information contained in this annual report on Form 40-F include, but are not limited to, statements or information with respect to: • Eldorado Gold’s beliefs for future value and stakeholder returns, strategic priorities, business objectives, and anticipated advancements across its assets; • Eldorado Gold’s guidance and outlook, including expected production, timing of production, cost guidance, sustaining and growth capital expenditures, expected flotation, carbon-in-leach and heap leach recoveries of ore (both tonnes and expected grade); • Our Kışladağ operations, including: expected heap leach tonnes of ore and production resulting from optimization of the crushing roll and fine ore-in plant agglomeration circuit that was installed in 2023, the expectation for construction and commissioning of the North ADR Facility in 2024, and the expectation that the NWRD will provide sufficient capacity to hold the waste rock the Company expects will be generated based on the current mine plan; • Our Efemçukuru operations, including: plans for a north mine rock storage facility, the development and infrastructure for expansion towards the Kokaripinar and Bati vein systems and the anticipated management of site water; • Our Olympias operations, including: the planned expansion to 650 ktpa of ore and timing and specific activities to achieve such throughput, the ability to meet future backfill requirements, planned extension of the second decline and development of the third decline, the commissioning of an underground maintenance workshop and the Company’s expectations of related time savings, and the extent to which the existing workshop and fuel storage at Olympias, as well as additional planned power generation will be adequate to support future production increases; • Our Skouries Project, including statements regarding construction and development of the Skouries Project, expected recovery methods and estimates on capital costs; • Our Lamaque Complex, including: plans to mine and process ore, expected resource conversion and resource expansion drilling at the Ormaque deposit, planned capital spend on tailings management and electric underground trucks, planned exploration programs and the site’s compliance with Towards Sustainable Mining guidelines, and the need for new low-profile mining equipment in connection with the proposed mining of the Ormaque deposit; • Eldorado Gold’s strategy and expectations with respect to currency holdings, hedging and inflation; • the Company’s sustainability practices generally, its compliance with the Sustainability Integrated Management System (“SIMS”), the expectation that Kışladağ and Efemçukuru will be verified in 2024, and that further sustainability assessments are expected to occur in 2025; • the filing of a new report under the Modern Slavery Act; • the addition of primary equipment to our fleet in the future, including jumbos, bolters, trucks, and loaders; • the anticipated economic and social impacts of our projects, including the expected benefits of the Kassandra Mines to the Halkidiki Prefecture; • the Company’s pursuit of operational improvements at its tailings facilities, which it expects will lead to a lower risk profile for the facilities; • the Company’s strategy with respect to human rights impact assessments at its Greek and Turkish operations, including the timing thereof; • the Company’s intentions with respect to its response to the Carbon Disclosure Project’s Climate Change and Water surveys, including the timing and frequency thereof; • the Company’s strategy with respect to the Voluntary Principles on Security and Human Rights; • favourable economics for the Company’s heap leaching plan and the ability to extend mine life at Eldorado’s projects; • sales from the Olympias project, including the imposition of the value-added tax thereon; • future changes in law and tax rates; • the intervention filed by Hellas Gold related to a challenge to the Kassandra Mines Environmental Impact Assessment and the upcoming hearing related thereto; • the Company’s strategy with respect to the Kassandra Mines, including the anticipated results therefrom; • the potential sale of any of our non-core assets, including the Certej project; • planned capital and exploration expenditures; • conversion of mineral resources to mineral reserves; • Eldorado Gold’s expectation as to its future financial and operating performance, including expectations around generating free cash flow, estimated cash costs, expected metallurgical recoveries and gold (and by-product) price outlook; • improved concentrate grade and quality; • intentions and expectations regarding non-IFRS financial measures and ratios; • gold price outlook and the global concentrate market; • Eldorado’s targets, intentions and expectations related to mitigating greenhouse gas emissions, including the timing thereof and operations related thereto; • Eldorado’s strategy, plans and goals, including its proposed exploration, development, construction, permitting and operating plans and priorities and related timelines and

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