Sports Betting Sheet Rollout – This Stock Could Fly
Pfizer Vaccine Ready – 90% EFFECTIVE  – Covid Stocks Soar
 Biden Covid Plan On Track – On Time  – Covid Stocks Soar

Gold has been on a strong rally for most of the year and that has also proven to be a major factor behind the impressive performance of many gold stocks. One of the gold stocks to have rallied strongly in recent days is that of Eldorado Gold (NYSE:EGO) and since the end of October, it has gained as much as 10%. In such a situation, it could be a good idea for investors to perhaps get a better idea about the company.

Why Gold’n Futures Mineral Corp. is Becoming a Big Player in the Gold Industry

Quarter 3 Performance

The primary trigger behind the strong rally in the Eldorado stock came about from the company’s third-quarter financial results, which were published towards the end of October.

Gold production rose by as much as 35% year on year to hit 136922 ounces and Eldorado also stated that it is on track to hit its annual production projection of 520000 ounces to 550000 ounces of gold. On the other hand, Eldorado managed to generate $165.4 million in net cash in the quarter, which is significantly higher than the $51.2 million generated in the prior-year period.

Why Gold’n Futures Mineral Corp. is Becoming a Big Player in the Gold Industry

The company also managed to boost its free cash flow considerably. Free cash flow for the quarter stood at $117.2 million, which reflects a significant rise from the $16.7 million generated in the year-ago period. Revenues stood at $287.6 million, which was significantly higher than $172.3 million generated in Q3 2019.

Costs and Financial Liquidity

Another major factor that might have come as a cause for optimism among investors is the drop in all-in sustaining costs from $1031 an ounce in Q3 2019 to $918 per ounce.

However, that is not all. Eldorado has also managed to maintain a strong cash position despite the current troubles caused by the coronavirus pandemic.

At the end of Q3 2020, it had cash, term deposits, and cash equivalents to the tune of $504 million. On top of that, the company also enjoys a revolving credit facility worth $32 million.

Why Gold’n Futures Mineral Corp. is Becoming a Big Player in the Gold Industry


Eldorado is one of the bigger companies in the mining sector and in addition to gold; it is also involved in base metals. The company has mining and development interests in Brazil, Turkey, Canada, Romania, and Greece.

It has struck up long term local partnerships and boasts of control over high-quality properties. In addition to that, Eldorado is also known for having a capable management team. In such a situation, investors could consider keeping the stock on their watch lists.

Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.