GoldMinerPulse Report: Eldorado Gold Corporation Metal Value



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Eldorado Gold Corporation (ELD) NI 43-101 Metal Value Report

The Eldorado Gold Corporation website is at www.eldoradogold.com.

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GoldMinerPulse Metrics Summary

This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-05-12.

The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.

Eldorado Gold Corporation Metric Summary
General MetricValue on 2012-02-03
In Situ Metal Value per Share (MVpSh)US$97.12
Average Ore Value per TonneUS$51.43
Metal Value Leverage (MVL)6.59
Market Capitalization as a Percentage of Metal Value15.2%
Recent Closing Stock PriceC$14.64
[note 1]
Fully Diluted Share Count560.45 M
[note 2]
Percentage In Situ Proven + Probable Reserve0%
Percentage In Situ Measured + Indicated Resource76%
Percentage In Situ Inferred Resource24%
Gold Specific Metrics
MetricValue on 2012-02-03
Gold Reserves + Resources30.44 M oz
Average Gold Ore Grade0.9 g/t
Market Capitalization per oz of Gold In SituUS$271.36
( C$269.52 )
Gold Equivalent Ounces Estimate31.54 M oz
Market Capitalization per oz of Gold EquivalentUS$261.94
( C$260.17 )
 

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE)

All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.

Metal Summary Based on Closing Prices on 2012-02-03
Metric / MetalGoldSilverIron
Total Counts (reserves + resources)30.44 M oz8.21 M oz7.31 M t
Metal Prices in US$ (from 2012-02-03)$1,725.90 / oz$33.63 / oz$200.00 / ton
Metal Value per Share (MVpSh)
Shown in US$. Based on fully diluted share count
$93.75$0.49$2.88
Percentage of Total Metal Value96.53%0.51%2.96%
Metal Value Percentage Proven + Probable0%0%0%
Metal Value Percentage Measured + Indicated76%100%83%
Metal Value Percentage Inferred24%0%17%

The above metal value totals derive from the following projects.

Project/Deposit/Mine Summary Based on Closing Prices on 2012-02-03
Project Location Metal Value per
share (% total)
Average
Ore Value
US$/t
GoldSilverIronPP%MI%I%
KisladagUsak, Turkey$51.31 ( 52.8% )US$32.6716.66 M oz 073%27%
JinfengGuizhou, China$11.25 ( 11.6% )US$201.313.65 M oz 072%28%
TZPara, Brazil$7.83 ( 8.1% )US$56.822.54 M oz 0100%0
EfemcukuruIzmir, Turkey$6.32 ( 6.5% )US$489.212.05 M oz 083%17%
Perama HillThrace, Greece$5.96 ( 6.1% )US$157.581.94 M oz 071%29%
TanjianshanQinghan, China$3.95 ( 4.1% )US$171.551.28 M oz 061%39%
White MountainJilin, China$3.95 ( 4.1% )US$203.671.28 M oz 074%26%
Eastern DragonHeilongjiang, China$3.67 ( 3.8% )US$361.191.03 M oz8.21 M oz 084%16%
Vila NovaAmapa, Brazil$2.88 ( 3.0% )US$135.47 7.31 M t083%17%

 

Eastern Dragon

Updates: Eastern Dragon webpage viewd October, 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Heilongjiang, China.

Average Ore Value (all estimate types): US$361.19

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$2.60843.96 K oz7.500 g/t3.68 M t
Silver$0.498.21 M oz73.000 g/t3.68 M t

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$0.58188.85 K oz2.670 g/t2.32 M t

Estimate notes:
Resource quantities adjusted for ownership percentage of 95.0%.


 

Efemcukuru

Latest NI43-101 Report: Technical Report on the Efemçukuru Project
2007-09-17 (327 pages).

Updates: 2010 Annual Report, p. 6 of 105

Project Location: Izmir, Turkey. View Efemchkuru gold deposit on a Google Map.

Average Ore Value (all estimate types): US$489.21

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$5.241.70 M oz9.550 g/t5.54 M t

Estimate notes: project webpage viewed October 2011 (Measured + Indicated are inclusive of reserves).

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$1.08352.06 K oz6.430 g/t1.70 M t

Estimate notes:


 

Jinfeng

Updates: Jinfeng project webpage, viewed October, 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Guizhou, China.

Average Ore Value (all estimate types): US$201.31

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$8.152.65 M oz3.550 g/t28.26 M t

Estimate notes: 2010 Annual Report, p. 6 of 105
Resource quantities adjusted for ownership percentage of 82.0%.

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$3.101.01 M oz3.850 g/t9.93 M t

Estimate notes:
Resource quantities adjusted for ownership percentage of 82.0%.


 

Kisladag

Latest NI43-101 Report: Technical Report for the Kışladağ Gold Mine, Turkey
2010-01 (120 pages).

Updates: Kisladag webpage viewed October, 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Usak, Turkey. View project on a Google Map.

Average Ore Value (all estimate types): US$32.67

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$37.6512.22 M oz0.680 g/t559.16 M t

Estimate notes: 2010 Annual Report, p. 6 of 105

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$13.664.44 M oz0.430 g/t320.87 M t

Estimate notes:


 

Perama Hill

Latest NI43-101 Report: Technical Report Perama Hill Project Thrace, Greece
2010-01 (0 pages).

Updates: Perama Hill project webpage, viewed October, 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Thrace, Greece.

Average Ore Value (all estimate types): US$157.58

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$4.261.38 M oz3.460 g/t12.44 M t

Estimate notes: 2010 Annual Report, p. 6 of 105

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$1.70552.39 K oz1.960 g/t8.77 M t

Estimate notes:


 

TZ

Latest NI43-101 Report: Technical Report for the Tocantinzinho Gold Project, Brazil
2011-05 (165 pages).

Updates: TZ project webpage viewed October, 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Para, Brazil.

Average Ore Value (all estimate types): US$56.82

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$7.372.39 M oz1.060 g/t70.23 M t

Estimate notes: 2010 Annual Report, p. 6 of 105

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$0.45147.48 K oz0.660 g/t6.95 M t

Estimate notes:


 

Tanjianshan

Latest NI43-101 Report: TECHNICAL REPORT Tanjianshan Gold Project, China
2005-09 (226 pages).

Updates: project webpage viewed October 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Qinghan, China. View Tanjianshan gold mine on a Google Map.

Average Ore Value (all estimate types): US$171.55

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$2.39777.40 K oz2.980 g/t9.02 M t

Estimate notes: 2010 Annual Report, p. 6 of 105
Resource quantities adjusted for ownership percentage of 90.0%.

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$1.56506.81 K oz3.280 g/t5.34 M t

Estimate notes:
Resource quantities adjusted for ownership percentage of 90.0%.


 

Vila Nova

Updates: Vila Nova project webpage viewed October 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Amapa, Brazil.

Average Ore Value (all estimate types): US$135.47

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Iron$2.396.08 M t  615,000.000 g/t9.88 M t

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Iron$0.491.24 M t  612,000.000 g/t2.02 M t

Estimate notes:


 

White Mountain

Updates: White Mountain webpage viewed October, 2011 (Measured + Indicated are inclusive of reserves).

Project Location: Jilin, China.

Average Ore Value (all estimate types): US$203.67

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$2.91945.48 K oz3.700 g/t8.37 M t

Estimate notes: 2010 Annual Report, p. 6 of 105
Resource quantities adjusted for ownership percentage of 95.0%.

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$1.04337.03 K oz3.590 g/t3.07 M t

Estimate notes: 2010 Annual Report, p. 6 of 105
Resource quantities adjusted for ownership percentage of 95.0%.

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