Eldorado Gold Targets 40% Gold Production Growth by 2027; Skouries Project Faces Q3 2026 Production Delay
EGO has more than doubled off its 52-week low of $13.29.
Summary
Eldorado Gold announced a three-year outlook targeting 40% gold production growth by 2027, despite a near-term delay and cost increase for its key Skouries Project.
Key Events · Earnings and Guidance · EGO
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Three-Year Production Outlook Targets 40% Growth
The company projects a significant 40% increase in gold production by 2027 (620,000 – 720,000 ounces) compared to 2025, with further growth to 640,000 – 740,000 ounces by 2028. This outlook also includes the addition of 50 – 70 million pounds of copper production by 2027.
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Skouries Project Production Delayed
First concentrate production at the Skouries Project is now expected in early Q3 2026, delayed by approximately one quarter, with commercial production anticipated in Q4 2026. This delay adds an estimated $50 million to construction project capital.
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Strong Future Cash Flow Generation Expected
The three-year outlook reflects an inflection to significant cash generation in the second half of 2026, with substantial free cash flow growth expected from 2027, driven by higher production volumes and improved margins from Skouries.
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2026 Guidance Provided
Total gold production for 2026 is guided at 490,000 to 590,000 ounces, an 11% increase from 2025. All-in sustaining costs (AISC) for operations are projected between $1,670 and $1,870 per ounce sold, with Skouries AISC expected to be very low at ($100) to $200 per ounce sold.
Analysis · EGO · Energy & Transportation
Eldorado Gold has provided a robust three-year production outlook, projecting a significant 40% increase in gold production by 2027 compared to 2025, alongside substantial free cash flow generation. This long-term growth is a strong positive signal for the company's future operational and financial profile. While the Skouries Project's first concentrate production is delayed by approximately one quarter to early Q3 2026, with an additional $50 million in construction capital, the company reiterates the project's excellent fundamentals and its expected contribution to low-cost production and cash flow from late 2026. Investors should monitor the progress of the Skouries ramp-up and the company's ability to achieve its ambitious production targets.
At the time of this filing, EGO was trading at $43.64 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $9.5B. The 52-week trading range was $13.29 to $51.16. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.