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UPDATE: Eldorado Gold Slips 2% on Lower Income, Revenues in Q2; Revises 2012 Production Guidance

Eldorado Gold Corporation (ELD.TO) reported net income of $46.6 million (or $0.07 per share) for the second quarter of 2012 on revenues of $214.2 million.

In the same period last year, net income was $74.9 million (or $0.14 per share) on revenues of $30.7 million.

The company has also revised its 2012 production guidance to 660,000 ounces of gold at average cash operating costs of $465 per ounce, due to delayed treatment of Efemcukuru concentrate at the Kisladag mine and the delayed completion of construction of the Eastern Dragon project.

ELD slipped by 2% to $10.30 in early trade on volumes of over 1.5 million. Day range is $10.10 - $10.45.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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