Eldorado Gold Nears Skouries Production, Advances Greek Growth Projects

summarizeSummary

Eldorado Gold provided a positive update on its Greek growth projects, with the Skouries project nearing first concentrate production and the Olympias expansion progressing with improved concentrate terms, positioning the company for significant future production and cash flow growth.

check_boxKey Events

• Skouries Project Nearing Production

  First concentrate production is expected towards the end of Q1 2026, with commercial production by mid-2026. Overall project progress has reached 90%, and open pit mining is ahead of schedule with significant ore stockpiles established.

• Olympias Expansion Progresses

  Construction completion for the Olympias expansion is expected in Q3 2026, with ramp-up in Q4 2026. New concentrate contracts for 2026 feature substantially improved payability and treatment terms, providing a significant uplift to cash flow.

• Perama Hill Advances Towards Development

  The Environmental Impact Assessment (EIA) for the Perama Hill project was submitted in December 2025, marking an important step towards developing this high-grade, low-cost gold-silver project.

• Project Funding Confirmed

  The Skouries project remains fully funded, with a revised capital cost estimate of $1.06 billion and cumulative project capital invested towards phase 2 totaling $980 million as of December 31, 2025.

auto_awesomeAnalysis

This 6-K filing details substantial operational progress across Eldorado Gold's key Greek assets, which are central to its long-term growth strategy. The Skouries project, a cornerstone asset, is on track for first concentrate production by late Q1 2026 and commercial production by mid-year, significantly de-risking this major copper-gold porphyry. The Olympias expansion is also advancing, with new concentrate contracts expected to materially boost cash flow through improved terms. Additionally, the Perama Hill project is moving forward with its EIA submission. These developments collectively indicate a strong trajectory for increased production, improved margins, and enhanced shareholder value, reinforcing the company's position as it trades near its 52-week high. Investors should monitor the successful commissioning and ramp-up of Skouries and the financial impact of the new Olympias concentrate terms.