GoldMinerPulse Report on Eldorado Gold Corporation: (NI) 43-101 Metal Valuation Report

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Eldorado Gold Corporation (ELD)

Company Web Site: www.eldoradogold.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2010-07-21. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.

External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading

More External Links: Knobias  |  Q1 2010 Earnings Call

Recent Production

  • 2009 : Forecast: Production of approximately 330,000 ounces of gold. 145,998 oz produced for first 6 months.
Source(s): Production forecast is from Eldorado Gold Corporation Presentation August 10, 2009.

Hedge Notes:

Eldorado Gold holds no hedge positions, slide 23 of 24.

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02

Project/Deposit CC MVpSh  PP%  MI%  I% Gold
    KisladagTR$45.5434%52%15%20.05 M oz    
    JinfengCN$15.3539%53%8%6.76 M oz    
    EfemcukuruTR$8.0842%48%10%3.56 M oz    
    Perama HillGR$6.5434%47%19%2.88 M oz    
    TZBR$5.63084%16%2.48 M oz    
    White MountainCN$4.2340%54%6%1.86 M oz    
    BeyinharCN$4.0631%59%10%1.79 M oz    
    TanjianshanCN$4.0336%46%18%1.78 M oz    
    Eastern DragonCN$2.8541%44%15%1.25 M oz    
    Vila NovaBR$0.00000     
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / MetalGold
    Metal Totals42.39 M oz    
    Metal Prices in US$ (from 2010-09-02)$1,251.30 per oz    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)
$96.29    
    Percentage of Total Metal Value100.00%    
    PP% | MI% | I%34% | 53% | 13%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)   US$96.29
    Average Ore Value per Tonne   US$47.7
    Metal Value Leverage (MVL)    4.94
    Market Capitalization as % of Metal Value   20.2%
    Recent Stock Price   C$20.53   (TSX/TSXV close on 2010-09-02.)
  Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count   550.90 M    ( Fully diluted share count taken from Share Structure web page (viewed July 2010). )
    PP% | MI% | I%   34% | 53% | 13%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade   1.186 g/t
    Market Capitalization
    per oz of Gold In Ground
   $253.24   US$  |   266.78   C$
    Gold Eq Oz Estimate   42.39 M oz   ( 42.39 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent
   $253.24   US$  |   266.78   C$
 
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Vila Nova Iron Mine Valuation Is NOT Calculated by GoldMinerPulse

GoldMinerPulse does not value iron ore deposits and as result GoldMinerPulse does not assign a value to Vila Nova project in Amapa State Brazil. 

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of Eldorado Gold Corporation is complete pending a final internal review.


Beyinhar    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: x, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.26    554.15 K oz     0.620 g/t     27.80 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.39    1.05 M oz     0.530 g/t     61.70 M t    
Estimate notes: See Proven + Probable note.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.41    180.85 K oz     0.750 g/t     7.50 M t    
Estimate notes: See Proven + Probable note.


Eastern Dragon    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Heilongjiang, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.17    513.13 K oz     8.400 g/t     2.00 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.27    557.72 K oz     8.300 g/t     2.20 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.42    183.26 K oz     5.000 g/t     1.20 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.


Efemcukuru    -  ^top^

(NI) 43-101 Report:

Title: Technical Report on the Efemçukuru Project
Date: 2007-09-17 (327 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Izmir, Turkey

Map View: View Efemchkuru gold deposit on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$3.41    1.50 M oz     9.100 g/t     5.14 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$3.86    1.70 M oz     9.550 g/t     5.54 M t    
Estimate notes: See notes above.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.80    352.06 K oz     6.430 g/t     1.70 M t    
Estimate notes: See notes above.


Jinfeng    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: x, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$6.01    2.65 M oz     5.200 g/t     19.30 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 82.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$8.08    3.56 M oz     4.650 g/t     29.00 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 82.0%.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.26    556.64 K oz     3.910 g/t     5.40 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 82.0%.


Kisladag    -  ^top^

(NI) 43-101 Report:

Title: Technical Report for the Kışladağ Gold Mine, Turkey
Date: 2010-01 (120 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Usak, Turkey

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$15.40    6.78 M oz     0.970 g/t     217.47 M t    
Estimate notes: Kişladağ mine, Resources And Reserves (Gold) as of December 31, 2008 web page, viewed August 2009.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$23.48    10.34 M oz     0.780 g/t     412.25 M t    
Estimate notes: Significant Mineral Resource Increase at Kisladag M+I Resources increase by 2.5 million oz. to 10.4 million oz., October 27, 2009 Press Release.
Threshold gold grades equal to 0.20 g/t.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$6.65    2.93 M oz     0.500 g/t     182.08 M t    
Estimate notes: See Measured + Indicated notes.


Perama Hill    -  ^top^

(NI) 43-101 Report:

Title: Technical Report Perama Hill Project Thrace, Greece
Date: 2010-01 (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Thrace, Greece

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.19    964.83 K oz     3.200 g/t     9.38 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$3.10    1.36 M oz     3.620 g/t     11.71 M t    
Estimate notes: See Proven + Probable note.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.25    550.31 K oz     1.960 g/t     8.73 M t    
Estimate notes: See Proven + Probable note.


TZ    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Announces Initial Resource Estimate and Plans to Move Forward at TZ Project in Brazil, July 21, 2010.

Project Location: Para, Brazil

Most Optimistic Resource Estimates (MORE):

   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$4.70    2.07 M oz     1.100 g/t     58.56 M t    
Estimate notes: Eldorado Announces Initial Resource Estimate and Plans to Move Forward at TZ Project in Brazil, July 21, 2010.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.93    407.56 K oz     0.670 g/t     18.92 M t    
Estimate notes: See Measured + Indicated note.


Tanjianshan    -  ^top^

(NI) 43-101 Report:

Title: TECHNICAL REPORT Tanjianshan Gold Project, China
Date: 2005-09 (226 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Qinghan, China

Map View: View Tanjianshan gold mine on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.45    638.34 K oz     3.590 g/t     6.15 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 90.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.87    823.74 K oz     3.070 g/t     9.27 M t    
Estimate notes: See Proven + Probable above.
Resource quantities adjusted for ownership percentage of 90.0%.
See Proven + Probable notes above.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.71    313.55 K oz     3.540 g/t     3.06 M t    
Estimate notes: See Proven + Probable above.
Resource quantities adjusted for ownership percentage of 90.0%.


Vila Nova    -  ^top^

(NI) 43-101 Report:

Title: Technical Report on the Vila Nova Iron Ore Project
Date: 2007-07-31 (89 pages)

Project Location: Amapa State, Brazil


White Mountain    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Jilin, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.69    745.87 K oz     3.700 g/t     6.60 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.30    1.01 M oz     3.100 g/t     10.70 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.23    102.63 K oz     2.100 g/t     1.60 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.

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