05:25 PM EDT, 07/11/2024 (MT Newswires) -- Eldorado Gold ( EGO ) edged up in after-hours New York trade Thursday as it provided updates on the tax impacts in Turkiye for the second quarter.

According to a statement, the company's profits from mining operations in Turkiye are taxed at the enacted rate and the resulting current income tax expense can be further increased or reduced by other items. For the second quarter, the company expects the Turkish current income tax expense on mining profits at an enacted rate of 25%, to be further decreased by $3 to $5 million.

It said the estimated decrease is primarily attributable to investment tax credits relating to its Kisladag and Efemcukuru mines, and the effects of inflation accounting, partly offset by taxable unrealized foreign exchange gains due to the weakening of the Lira against the US dollar in the quarter.

Eldorado will release its second quarter results after the market closes on Thursday, July 25.

The company's shares were last seen up US$0.01 to US$16.60 after hours. They closed up $0.59 to $22.63 on the Toronto Stock Exchange.