Newspaper article The Canadian Press

Eldorado Gold Swings to Big Q4, Yearly Loss; Cites Massive Impairment Charge

Newspaper article The Canadian Press

Eldorado Gold Swings to Big Q4, Yearly Loss; Cites Massive Impairment Charge

Article excerpt

Eldorado Gold swings to big Q4, yearly loss

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VANCOUVER - Eldorado Gold Corp. (TSX:ELD) has swung to a big loss in the fourth quarter and for the year as a whole, citing huge impairment charges totalling more than $1.5 billion in 2015.

In the fourth-quarter, the Vancouver-based miner said the loss attributable to shareholders was $1.238 billion or $1.73 per share, as compared with a net profit of $13.9 million or two cents per share in the year-earlier quarter.

The adjusted loss was $19.3 million as compared with adjusted net earnings of $29.4 million in the 2014 period, the company said in a statement Wednesday after markets closed.

It said the main factors impacting earnings included an impairment charge net of taxes of almost $1. …

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