Name of the Project
Lamaque Complex.

Location
Val-d’Or, Québec, Canada.

Project Owner/s
Gold and base minerals mine developer and explorer Eldorado Gold.

Project Description
The Lamaque Complex includes the Triangle, Ormaque, Parallel and Plug No 4 deposits, and the Sigma mill.

A technical report, published in January 2025, highlights a reserve case and a preliminary economic assessment (PEA) case for the complex. The reserve case outlines gold production of 1.2-million ounces over an eight-year mine life until 2032, with average gold production estimated at 175 000 oz/y until 2028.

The PEA case proposes incremental gold production of 1.5-million ounces, showing the potential to extend mine life by a further nine years to 17 years until 2041. The PEA case maintains average gold production at about 
185 000 oz/y until 2036.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The reserve case estimates an after-tax net present value (NPV), at a 5% discount rate, of $555-million at a gold price of $2 000/oz and an after-tax NPV of $1.1-billion at a gold price of $2 600/oz. The PEA case estimates an after-tax NPV, at a 5% discount rate, of $623-million at a gold price of $2 000/oz. When combined with the reserve case, the project has an NPV of $1.2-billion. At a gold price of $2 600/oz, the project has an after-tax NPV of $1.1-billion. When combined with the reserve case, the project has an NPV of $2.1-billion.

The internal rate of return of the PEA case at a gold price of $2 000/oz is estimated at 43.5%, and at 68.2% at a gold price of $2 600/oz.

Capital Expenditure
Capital costs in the reserve case are estimated at $227-million and in the PEA case at $33-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None disclosed.

Contact Details for Project Information
Eldorado Gold, tel +1 888 353 8166.