EX-99.1 2 ego_ex991.htm EX-99.1 ego_ex991.htm

EXHIBIT 99.1 

 

 

 
 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report

 

Reporting Year

From:

2024-01-01

To:

2024-12-31

 

 

 

 

 

Reporting Entity Name

Eldorado Gold Corporation

Currency of the Report

USD

 

Reporting Entity ESTMA Identification Number

E919377

 

 

Subsidiary Reporting Entities (if necessary)

Eldorado Gold (Quebec) Inc (ID: E558445)

 

 

 

 

 

Payments by Payee

Country

Payee Name1

Departments, Agency, etc… within Payee that Received Payments2

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Infrastructure Improvement Payments

Total Amount paid to Payee

Notes34

Turkey

Federal Government of the Republic of Turkey

 

 44,140,000

 24,790,000

 8,520,000

 

 

 

 

77,450,000

Payments to Regional Directorate of Forestry, General Directorate of Mining and Oil Affairs, Ankara Kurumlar Tax Office, Ankara Ihtisas Tax Office, Canakkale Tax Office, Kavaklidere Tax Office, Energy Market Regulatory Authority, Menderes Land Registry Office, Fees Tax Office, Ulubey Tax Office, Usak Land Registry Office, Union of Turkish Bar Association, Usak 3rd Notary, Menders Tax Office, Ulubey Notary, Ministry of Justice, Regional Directorate of Forestry, and Hayriye Ozcelik Ankara 9th Notary .

 

Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 32.85. See note 1 & 2 below.

Turkey

Menderes Municipality

 

 20,000

 210,000

 

 

 

 

 

230,000

Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 32.85.

Turkey

Ulubey Municipality

 

 70,000

 

 

 

 

 

 

70,000

Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 32.85.

Turkey

Sivasli Municipality

 

 10,000

 

 

 

 

 

 

10,000

Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 32.85.

Canada

Government of Quebec

 

 30,840,000

 

 

 

 

 

 

30,840,000

Payments to Revenu Quebec and Quebec Ministry of Environment

 

Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.36.

Canada

Municipality of Val-d'Or

 

 540,000

 

 

 

 

 

 

540,000

Payments to Centre Service Scolaire de l'Or et des Bois, Commission scolaire Western Quebec, and Ville de Val d'Or.

 

Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.36.

Greece

Federal Government of Greece

 

 660,000

 130,000

 

 

 

 

 

790,000

Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.93.

Greece

Municipality of Aristoteles

 

 

 

 

 

 

 

 1,520,000

1,520,000

Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.93.

Romania

Certej Municipal Government

 

 

 

 140,000

 

 

 

 

140,000

Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.54.

Additional Notes:

1. Taxes of $49,790,000 were remitted to the Federal Government of the Republic of Turkey of which $44,140,000 was paid in cash after applying refunds of sales taxes previously paid.

2. Fees of $8,950,000 were remitted to the Federal Government of the Republic of Turkey of which $8,520,000 was paid in cash.

 

 
 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report

 

Reporting Year

From:

2024-01-01

To:

2024-12-31

 

 

 

 

Reporting Entity Name

Eldorado Gold Corporation

Currency of the Report

USD

 

 

Reporting Entity ESTMA Identification Number

E919377

 

 

 

 

Subsidiary Reporting Entities (if necessary)

Eldorado Gold (Quebec) Inc (ID: E558445)

 

 

 

 

Payments by Project

Country

Project Name1

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Infrastructure Improvement Payments

Total Amount paid by Project

Notes23

Turkey

Kisladag

 80,000

 14,400,000

 6,350,000

 

 

 

 

20,830,000

Note 1

Turkey

Efemcukuru

 20,000

 10,600,000

 1,320,000

 

 

 

 

11,940,000

Note 1

Turkey

Ankara Office

 44,140,000

 

 850,000

 

 

 

 

44,990,000

Note 1

Canada

Lamaque Complex

 31,380,000

 

 

 

 

 

 

31,380,000

Note 2

Greece

Skouries

 490,000

 50,000

 

 

 

 

 

540,000

Note 3

Greece

Perama Hill

 

 20,000

 

 

 

 

 

20,000

Note 3

Greece

Kassandra Mines

 170,000

 60,000

 

 

 

 

 1,520,000

1,750,000

Note 3

Romania

Certej

 

 

 140,000

 

 

 

 

140,000

Note 4

Additional Notes3:

1. Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 32.85.

2. Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.36.

3. Payments made in EUR, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 0.93.

4. Payments made in RON, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 4.54.

 

 
 

 

   

Reporting Principles

 

1.

Basis of Accounting

 

 

 

The Schedule of Payments by Payee and the Schedule of Payments by Project (collectively, the “Schedules") prepared by Eldorado Gold Corporation (the “Company”) for the year ended December 31, 2024 has been prepared in accordance with the financial reporting provisions in Section 9 of the Extractive Sector Transparency Measures Act, Section 2 of the Extractive Sector Transparency Measures Act – Technical Reporting Specifications and Section 3 of the Extractive Sector Transparency Measures Act – Guidance Version 2.1 (collectively the “financial reporting framework”).

 

 

 

The Schedules are prepared to provide information to the Board of Directors of Eldorado Gold Corporation and the Minister of Natural Resources Canada to assist in meeting the requirements of the Extractive Sector Transparency Measures Act. As a result, the Schedules may not be suitable for another purpose.

 

 

2.

Basis of Presentation

 

 

 

The Schedules have been prepared using the cash basis of accounting, as required by the financial reporting framework, and therefore exclude any accruals related to payments due to governments.

 

 

 

The Schedules include all cash payments made, without inclusion of cash inflows from a government. Where the Company makes a payment to a government that is net of credits from that government, the net payment amount has been presented.

 

 

3.

Reporting Currency

 

 

 

All payments are reported in U.S. dollars which is the reporting currency of the Company. When the Company has made payments in currencies other than its reporting currency, it translates the payments using the exchange rate on the date of the individual payment.

 

 

4.

Rounding

 

 

 

All figures have been rounded to the nearest $10,000 U.S. dollars.

 

 

5.

Control

 

 

 

As required by the financial reporting framework, the Company has reported payments made by entities controlled by the Company. The Company has determined whether it controls an entity in accordance with International Financial Reporting Standards.