Eldorado Gold Corporation

Eldorado Gold Corporation

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 40-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 þ ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission file number: 001-31522 ELDORADO GOLD CORPORATION (Exact Name of Registrant as Specified in its Charter) CANADA (Province or other jurisdiction of incorporation or organization) Canada 1040 N/A (Province or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code Number (if applicable)) Identification Number (if Applicable)) 1188 – 550 Burrard Street Bentall 5 Vancouver, British Columbia Canada V6C2B5 (Address and Telephone Number of Registrant’s Principal Executive Offices) CT Corporation System 28 Liberty Street, 42nd Floor New York, New York 10005 (212) 894-8940 (Name, Address (Including Zip Code) and Telephone Number (Including Area Code) of Agent For Service in the United States) Copies to: Kenneth G. Sam Dorsey & Whitney LLP 1400 Wewatta Street, Suite 400 Denver, Colorado 80202 (303) 629-3400 Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, no par value EGO NYSE Securities registered or to be registered pursuant to Section 12(g) of the Act: N/A Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: N/A For annual reports, indicate by check mark the information filed with this form: x Annual Information Form x Audited Annual Financial Statements Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: As at December 31, 2019, 164,963,324 common shares of the Registrant were issued and outstanding. Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. x Yes ¨ No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x Yes ¨ No Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act. Emerging growth company ¨ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ EXPLANATORY NOTE Eldorado Gold Corporation (the “Company” or the “Registrant”) is a Canadian issuer eligible to file its annual report pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on Form 40-F pursuant to the multi-jurisdictional disclosure system of the Exchange Act. The Company is a “foreign private issuer” as defined in Rule 3b-4 under the Exchange Act. The equity securities of the Company are accordingly exempt from Sections 14(a), 14(b), 14(c), 14(f) and 16 of the Exchange Act pursuant to Rule 3a12-3 of the Exchange Act. FORWARD-LOOKING STATEMENTS This annual report on Form 40-F and the exhibits attached hereto contain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", “continue”, “projected”, "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements include, but are not limited to, statements or information with respect to: • the duration, extent and other implications of the coronavirus (“COVID 19”) and any restrictions and suspensions with respect to our operations; • our capital resources and business objectives; • our guidance and outlook, including expected production, cost guidance and recoveries of gold, including higher heap leach recoveries at Kışladağ; • favorable economics for the Kışladağ heap leaching plan and the ability to extend mine life at our projects, including at Kışladağ through further metallurgical tests on deeper material; • expansion plans at our Lamaque project; • planned capital and exploration expenditures; • conversion of mineral resources to mineral reserves; • our expectations as to our future financial and operating performance, including expectations around generating significant free cash flow; • expected metallurgical recoveries; • gold price outlook and the gold concentrate market; and • our strategy, plans and goals, including our proposed exploration, development, construction, permitting and operating plans and priorities and related timelines and schedules. Forward-looking statements are based on a number of assumptions, that management considers reasonable, however, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements. These assumptions include assumptions concerning: the geopolitical, economic, permitting and legal climate that we operate in; the future price of gold and other commodities; exchange rates; anticipated costs and expenses; production and metallurgical recoveries; mineral reserves and resources; and the impact of acquisitions, dispositions, suspensions or delays in our business. In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this annual report on Form 40-F. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements. The reader is directed to the discussion set out under the heading “Risk factors in our business”, which includes a discussion of material and other risks that could cause actual results to differ significantly from our current expectations, including risks relating to: • global outbreaks of infectious diseases, including COVID 19; • the geopolitical climate in jurisdictions in which we operate in; • community relations and social license; • natural phenomena, including climate change, health and social effects; • liquidity and financing risks; • costs of development projects; • indebtedness and financing, including current and future operating restrictions and implications of a change in control; • environmental; • the global economic environment; • government regulation; • commodity price risk; • resource nationalism and foreign operations; • mineral tenure and permits; • unavailability of capital and inadequate income, including limited access to equity markets, dilutive equity financings and credit ratings; • non-governmental organizations (NGOs); • corruption and bribery; • litigation and contracts; • estimation of mineral reserves and mineral resources; • occurrence of unpredictable geological and metallurgical factors; • production and cost estimates; • credit risk, debt service obligations and default; • actions of activist shareholders; • our information technology systems; • our share price and volume fluctuations; • infrastructure, including power and water, and commodities/consumables; • our pre-stripping/stripping and underground development, extraction, processing and exploration activities; • currency and interest rates, cost estimates and tax matters; • repatriation of funds and dividends; • compensation; • financial reporting, including relating to the carrying value of our assets and changes in reporting standards; • labor, including employee relations, employee misconduct, key personnel and skilled workforce; • reclamation and other long term obligations; • the use and transport of regulated substances, including waste disposal; • necessary equipment; • co-ownership of our properties; • the use of contractors; • acquisitions and dispositions; • human rights matters; • the unavailability of required insurance; • conflicts of interest; • compliance with privacy legislation; • reputational issues; • competition; and • security. Forward-looking statements and forward-looking information are designed to help you understand management’s current views of our near and longer term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements and forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking

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