Eldorado Gold (TSE:ELD) Increases Gold Production Guidance

Eldorado Gold (TSE:ELD) (NYSE:EGO) quarterly production results encouraged the company to increase its gold production guidance of 550,000 to 600,000 ounces to 575,000 to 625,000 ounces for 2010.

The gold mining company generated record production in the quarter of 164,928 ounces of gold at a cost of $371 an ounce, with all mines doing well.

For the first quarter Eldorado also sold 57,459 ounces of gold, with cash operating costs of $296 an ounce.

Eldorado will continue to look for expansion through exploration, committing $35 million of their budget to it.