Eldorado Gold Corp.

ELD · TSX EGO · NYSE

eldoradogold

$7.9B

USD

Market cap · 2026–07 · week 28

🇨🇦 Canada, Vancouver

Country

Precious Metals

Sector

Producer · Mid-Tier · Gold · Asia · Canada · Europe

Last updated 21 June 2026

Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.

Overview: Eldorado Gold Corporation is a mid-tier gold and base-metals producer headquartered in Vancouver, Canada, with operations and projects in Canada, Turkiye, and Greece. The portfolio consists of 8 projects, comprising 4 operating mines, 2 development projects, 1 mine on care and maintenance, and 1 advanced exploration project. Key assets include Kisladag, the Lamaque Complex, and the Skouries copper-gold development project. The operating mines are Kisladag, Efemcukuru, the Lamaque Complex, and Olympias, with Skouries and Perama Hill in development and Stratoni on care and maintenance. The business model focuses on the extraction and processing of gold, silver, lead, and zinc, with copper production expected from the Skouries project. Processing capabilities include heap leaching at Kisladag, flotation at Efemcukuru and Olympias, and conventional milling at Lamaque. A defining competitive characteristic is the company's geographic diversification across three jurisdictions and its near-term copper-gold growth from Skouries. The combination of producing mines and a sanctioned copper-gold development supports a growth-oriented production profile. This combination underpins a returns-focused model. The business remains subject to mineral price cycles and geopolitical risks across its operating jurisdictions.

Strategy: Strategic focus centers on blending cash flow from current operations with growth driven by expansions and development projects. A core objective is the continual addition to its mineral base through exploration and development. Capital allocation is prioritized to advance high-return growth opportunities, notably the construction and commissioning of the Skouries copper-gold project, which is expected to commence commercial production in the fourth quarter of 2026. The enterprise intends to expand the Olympias processing plant to 650,000 tonnes per annum and to advance the Ormaque deposit at Lamaque. The organization also pursues strategic acquisitions, as evidenced by the planned acquisition of Foran Mining Corporation to expand its base-metals footprint. This combination of copper-gold development, brownfield expansion, and base-metals diversification underpins the company's strategy. The Skouries commissioning is the principal near-term driver of the company's production and cash-flow growth. The Olympias expansion and the Lamaque exploration upside support the company's longer-term profile. The Perama Hill project provides an additional development option within the company's Greek portfolio.

Management: Executive leadership is headed by Chief Executive Officer George Burns, who will retire in the third quarter of 2026 and be succeeded by President Christian Milau. The Board is chaired by Steven Reid, who intends to retire in 2027. The Board oversees corporate strategy through standing committees, including Audit, Compensation, Corporate Governance and Nominating, Sustainability, and Technical. Governance practices emphasize risk management and compliance with international standards. The leadership team's operating and development experience supports the company's strategy of commissioning Skouries while sustaining its producing base. The planned chief-executive succession provides leadership continuity through the company's major growth phase. Board oversight of technical and sustainability matters reflects the operational and environmental dimensions of the company's gold and base-metals operations. This governance structure keeps capital discipline and project execution central to executive accountability. The board's committee structure provides focused oversight of the company's audit, compensation, governance, technical, and sustainability priorities. The leadership team's experience spans the company's jurisdictions in Canada, Turkiye, and Greece.

Sustainability: The organization's sustainability framework is guided by policies covering environmental, social, and governance practices, aligned with the World Gold Council's Responsible Gold Mining Principles and the Mining Association of Canada's Towards Sustainable Mining initiative. A key environmental initiative involves the use of dry-stack filtered tailings at Efemcukuru and Olympias to reduce environmental impact. The company publishes an annual Climate Change and greenhouse-gas emissions report aligned with the recommendations of the Task Force on Climate-related Financial Disclosures, targeting a 30% reduction in Scope 1 and 2 emissions by 2030 from a 2020 baseline. Social programs focus on community engagement and local employment, with independent human-rights assessments conducted across all operating jurisdictions. These initiatives connect the company's emissions-reduction targets with measurable tailings-stewardship and human-rights outcomes. The dry-stack tailings approach reflects the company's emphasis on lower-impact waste management. The Responsible Gold Mining Principles alignment anchors the company's responsible-production standards. The independent human-rights assessments reflect the company's emphasis on responsible operation across its jurisdictions.

Structure: A significant structural change was announced in February 2026 when the company entered into an arrangement to acquire all outstanding shares of Foran Mining Corporation. In December 2025, the entity acquired an additional 14.87 million shares of Amex Exploration Inc., increasing its stake to approximately 27.27% on a non-diluted basis. In October 2025, the company completed the sale of its 80% indirect interest in the Certej project in Romania. A strategic relationship with the European Bank for Reconstruction and Development was established in 2023 through a C$81.5 million equity investment to fund the Skouries project. Material operational subsidiaries include Hellas Gold Single Member S.A., Eldorado Gold (Quebec) Inc., and Tuprag Metal Madencilik Sanayi ve Ticaret AS. These arrangements expanded the company's base-metals footprint while financing its flagship development. The Foran acquisition adds a copper-zinc growth asset to the company's portfolio. The EBRD investment provides a supportive financing partner for the Skouries build. The Certej divestiture rationalized the company's non-core Romanian holdings. The Amex Exploration stake gives the company exposure to a Quebec gold-exploration district.

Hedge: The company maintains a risk-management policy that includes hedging exposure to commodity prices, foreign exchange, and interest rates while preserving meaningful leverage to metal prices. As of December 31, 2025, the company holds zero-cost collars to mitigate euro and Canadian-dollar exchange-rate fluctuations for the Olympias and Lamaque operations. To manage interest-rate risk on the Skouries project-financing facility, the company entered into interest-rate swaps covering approximately 79% of the variable-interest-rate exposure. The company also executed gold zero-cost collars totaling 28,000 ounces with a floor strike of US$3,000 per ounce and a call strike of US$4,537 per ounce, settling monthly from July to December 2027, as required by the term facility. This targeted, financing-linked approach manages the company's currency and interest-rate exposures and satisfies lender requirements while leaving the bulk of production exposed to spot prices.

Source: Eldorado Gold Corporation - Annual Information Form - 2025

Operating · 4 projects

Kışladağ

Asset

Turkey, Uşak, Tethyan Metallogenic Belt

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Mining

Type

Operating

Status

🇹🇷 Turkey, Uşak (Tethyan Metallogenic Belt)

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Extraction: Open Pit

Ore type: Oxide

Processing route: Heap leach, or acid leach and SX-EW

Description

As at 30 September 2025

Large-scale, low-grade gold porphyry deposit hosted in the eroded Miocene Beydağı stratovolcano. Located 35 km southwest of Uşak in western Türkiye, accessed via a 5.3 km private road from the main highway. Property comprises a single 17,192 ha operating license. Commercial production commenced in 2006. Three-stage crushing circuit including HPGR feeds a conventional heap leach facility. North heap leach pad expansion is ongoing to support the life of mine.

Mining metrics

Multiple effective dates · exclusive

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Reserves & resources — detail

As at 30 September 2025

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Lamaque Complex

Asset

Canada, Québec, Abitibi Greenstone Belt

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Mining

Type

Operating

Status

🇨🇦 Canada, Québec (Abitibi Greenstone Belt)

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Extraction: Underground

Ore type: Sulphide

Processing route: Grinding and flotation, or CIL

Description

As at 30 September 2025

Orogenic gold vein system hosted in the Val-d'Or formation. Located near Val-d'Or, Quebec, accessed via provincial highway 117. Property comprises 76 map-designated claims, 10 mining concessions, and one mining lease. Commercial production commenced in 2019. Underground mining utilizes long-hole open stoping at Triangle and drift-and-fill at Ormaque. Ore is processed at the refurbished Sigma mill using conventional crushing, grinding, gravity concentration, and CIP leaching.

Mining metrics

Extraction: Underground

Ore type: Sulphide

Processing route: Grinding and flotation, or CIL

Description

As at 30 September 2025

Intermediate sulfidation epithermal gold vein system hosted in the Bornova Flysch. Located 20 km southwest of İzmir in western Türkiye. Property comprises a single 2,261 ha operating license. Commercial production commenced in 2011. Underground mining utilizes drift-and-fill and long-hole open stoping methods. Processing plant produces a bulk sulfide flotation concentrate containing gold.

Mining metrics

Multiple effective dates · exclusive

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Reserves & resources — detail

As at 30 September 2025

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Development · 2 projects

Skouries

Asset · Development

Greece, Chalkidiki, Tethyan Metallogenic Belt

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Mining

Type

Development

Status

🇬🇷 Greece, Chalkidiki (Tethyan Metallogenic Belt)

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Extraction: Open Pit Underground

Description

As at 30 September 2025

Copper-gold porphyry deposit hosted in the Serbo-Macedonian Massif. Located 100 km east of Thessaloniki in northern Greece. Property comprises multiple mining concessions. Development project utilizing both open pit and underground mining methods. Processing plant will produce a copper-gold concentrate. Commercial production is expected to commence in the fourth quarter of 2026.

Mining metrics

As at 30 September 2025 · exclusive

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Reserves & resources — detail

As at 30 September 2025

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Perama Hill

Asset · Development

Greece, Thrace, Tethyan Metallogenic Belt

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Mining

Type

Development

Status

🇬🇷 Greece, Thrace (Tethyan Metallogenic Belt)

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Extraction: Open Pit

Description

As at 30 September 2025

Epithermal gold-silver deposit located in the Thrace region of northern Greece. Development project planned as a small open pit mine utilizing a conventional carbon-in-leach circuit for gold recovery. An environmental impact assessment was completed and submitted in 2025.

Mining metrics

As at 30 September 2025 · exclusive

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Reserves & resources — detail

As at 30 September 2025

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Exploration · 4 projects

Bourlamaque

Asset · Exploration

Canada, Québec, Abitibi Greenstone Belt

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Mining

Type

Exploration

Status

🇨🇦 Canada, Québec (Abitibi Greenstone Belt)

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Extraction: -

Description

As at 30 September 2025

Exploration property covering approximately 20,000 hectares in Québec, contiguous to the Lamaque Complex. Includes the Bonnefond drill target where drilling and interpretation work was completed in 2025, leading to a maiden mineral resource estimate.

Mining metrics

As at 30 September 2025 · exclusive

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Reserves & resources — detail

As at 30 September 2025

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Perama South

Asset · Exploration

Greece, Thrace

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Mining

Type

Exploration

Status

🇬🇷 Greece, Thrace

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Asset · Exploration

Greece, Chalkidiki

Open project page

Mining

Type

Exploration

Status

🇬🇷 Greece, Chalkidiki

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Asset · Exploration

Greece, Thrace

Open project page

Mining

Type

Exploration

Status

🇬🇷 Greece, Thrace

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Stratoni

Asset · Suspended

Greece, Chalkidiki, Tethyan Metallogenic Belt

Open project page

Mining

Type

Suspended

Status

🇬🇷 Greece, Chalkidiki (Tethyan Metallogenic Belt)

Country

Project information

As at 30 September 2025

Aggregation level: Asset

Report standard: Ni 43 101

Ownership %: 100

Operator: Yes

Extraction: Underground

Description

As at 30 September 2025

Underground silver-lead-zinc mine located in the Chalkidiki Peninsula in northern Greece. Placed on care and maintenance in December 2021. Exploration drilling was conducted east of Mavres Petres at the Stratoni Skarn target in 2024 and 2025.

Mining metrics

As at 30 September 2025 · exclusive

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Reserves & resources — detail

As at 30 September 2025

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Assumptions

The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.

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How to read this tab

The tables below list unit codes most often used in the Precious Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.

What the Portfolio tab shows

The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.

Concepts in your sector — Precious metals

Resources vs Reserves. Resources are geological estimates that could one day be mined; Reserves are the subset with a feasibility study and plausible positive economics. Measured → Indicated → Inferred describe increasing geological uncertainty; Proven → Probable are reserve labels from Measured/Indicated. Inferred resources are not convertible to reserves under most codes.
Grade (g/t) is the headline number on gold/silver pages. High-grade is often above 5 g/t; >10 g/t is bonanza territory; below 1 g/t is bulk low-grade. Open-pit cut-offs are typically lower than underground.
AISC (All-In Sustaining Cost) is direct cash costs + sustaining capex + royalties + corporate overhead + reclamation, per ounce produced. C1 strips sustaining capex and corporate overhead. Both are non-GAAP and defined differently across issuers.
By-product credits. Polymetallic deposits credit by-product value against the main metal cost; negative AISC after credits does not mean the main metal is sold below cash cost.

Portfolio tab — table guide

Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.

Ownership / Working interest

Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.

Units, conversions & reporting standards

Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.

Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.

Gold

Score

Production

Resource base

Grade

1 / 5

0–50 koz Au

0–1 Moz Au

0–1 g/t Au

2 / 5

50–125 koz Au

1–2.5 Moz Au

1–2 g/t Au

3 / 5

125–250 koz Au

2.5–5 Moz Au

2–5 g/t Au

4 / 5

250–500 koz Au

5–10 Moz Au

5–8 g/t Au

5 / 5

≥ 500 koz Au

≥ 10 Moz Au

≥ 8 g/t Au

Silver

Score

Production

Resource base

Grade

1 / 5

0–1 Moz Ag

0–25 Moz Ag

0–50 g/t Ag

2 / 5

1–3 Moz Ag

25–75 Moz Ag

50–100 g/t Ag

3 / 5

3–7 Moz Ag

75–150 Moz Ag

100–200 g/t Ag

4 / 5

7–12 Moz Ag

150–225 Moz Ag

200–300 g/t Ag

5 / 5

≥ 12 Moz Ag

≥ 225 Moz Ag

≥ 300 g/t Ag

Copper

Score

Production

Resource base

Grade

1 / 5

0–50 kt Cu

0–500 kt Cu

0–0.5 % Cu

2 / 5

50–125 kt Cu

500–2000 kt Cu

0.5–1 % Cu

3 / 5

125–250 kt Cu

2000–5000 kt Cu

1–1.5 % Cu

4 / 5

250–500 kt Cu

5000–10000 kt Cu

1.5–2 % Cu

5 / 5

≥ 500 kt Cu

≥ 10000 kt Cu

≥ 2 % Cu

Zinc

Score

Production

Resource base

Grade

1 / 5

0–50 kt Zn

0–1 Mt Zn

0–2.5 % Zn

2 / 5

50–150 kt Zn

1–3 Mt Zn

2.5–5 % Zn

3 / 5

150–300 kt Zn

3–7 Mt Zn

5–8 % Zn

4 / 5

300–500 kt Zn

7–15 Mt Zn

8–12 % Zn

5 / 5

≥ 500 kt Zn

≥ 15 Mt Zn

≥ 12 % Zn

Lead

Score

Production

Resource base

Grade

1 / 5

0–25 kt Pb

0–0.5 Mt Pb

0–1 % Pb

2 / 5

25–75 kt Pb

0.5–1.5 Mt Pb

1–2.5 % Pb

3 / 5

75–150 kt Pb

1.5–4 Mt Pb

2.5–5 % Pb

4 / 5

150–300 kt Pb

4–8 Mt Pb

5–8 % Pb

5 / 5

≥ 300 kt Pb

≥ 8 Mt Pb

≥ 8 % Pb

Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.

Assumptions

Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.