Skouries Achieves First Ore Crush; First Concentrate on Track for Q3 2026
EGO sits 45% above its 52-week low of $19.7 on light trading volume (0.3× avg).
Summary
Eldorado Gold has crushed first ore at its Skouries copper-gold project in Greece, a major commissioning milestone that keeps first concentrate production on track for Q3 2026. A large ore stockpile and advancing plant commissioning reduce ramp-up risk, though final grid connection awaits regulatory sign-off.
Key Events · Product Development and Regulatory · EGO
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First Ore Crushed at Skouries
Ore has been fed through the commissioned crushing circuit, confirming front-end processing is operational and marking a key step toward first concentrate production.
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Commissioning Advancing Across Plant
Wet and dry commissioning is progressing in crushing, grinding, flotation, concentrate handling, and tailings circuits, with systems being handed over to operations on a staged basis.
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Final Site Energization Pending
Full plant operation requires final inspection and sign-off by the Greek power authority; supplemental generators have been added to maintain commissioning momentum in the interim.
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3.9 Million Tonne Ore Stockpile Built
Open-pit mining is ahead of schedule, providing a run-of-mine stockpile sufficient to feed the plant through 2026 and support a lower-risk ramp-up.
Analysis · EGO · Energy & Transportation
Crushing the first ore at Skouries represents a pivotal de-risking milestone for Eldorado's flagship growth project. With commissioning progressing and a 3.9-million-tonne stockpile already in place, the path to first copper-gold concentrate in Q3 2026 is now tangible. Final site energization remains the key gating item, but backup power has been added to maintain momentum. This operational progress directly supports the investment thesis that Skouries will transform the company's production profile and cash flow generation.
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