Eldorado Gold Stock Price, News & Analysis

Eldorado Gold (EGO) has received TSX approval to amend its normal course issuer bid (NCIB), increasing the maximum repurchase from 350,000 to 10,245,474 shares (5% of outstanding shares). The NCIB runs from November 8, 2024, to July 31, 2025. As of April 30, 2025, EGO has bought back 224,000 shares at an average price of $22.60. Daily repurchases will be limited to 83,123 shares. Of the repurchased shares, up to 9,895,474 will be cancelled, while 350,000 will be held in trust for the company's RSU plan. The company cites strong balance sheet, Skouries Project progress, and high gold prices as reasons for the expanded buyback program.

Eldorado Gold (EGO) has announced its schedule for the First Quarter 2025 Financial and Operational Results release and conference call. The company will release its Q1 2025 results after market close on Thursday, May 1, 2025, followed by a conference call on Friday, May 2, 2025 at 11:30 AM ET (8:30 AM PT).

The conference call will be accessible via webcast on Eldorado Gold's website and through various dial-in options. Participants can pre-register for the call to receive calendar invitations with dial-in details and a unique PIN, allowing direct connection to the conference. The replay will be available until June 13, 2025.

Eldorado Gold has filed an amended Technical Report for its Lamaque Complex in Quebec, Canada, following a review by the British Columbia Securities Commission. The amended report, effective December 31, 2024, replaces the January 2025 Report and notably removes the preliminary economic assessment (PEA Case) that included inferred mineral resources from the Triangle and Ormaque deposits.

The amendment maintains the original prefeasibility study (Reserve Case) without changes to mineral resource estimates, reserve estimates, financial assumptions, or economic analysis. Minor modifications include updates to qualified persons' accountability, additional expert experience details, and revisions to the 'Reliance on Other Experts' and 'History' sections to comply with NI 43-101F1 requirements.

Eldorado Gold reported strong financial and operational results for Q4 and full-year 2024. Gold production reached 155,668 ounces in Q4 and 520,293 ounces for the full year, a 7% increase from 2023. Revenue increased 42% to $435.7M in Q4 and 31% to $1.32B for 2024.

The company achieved net earnings of $108.2M in Q4 and $300.9M for the full year. Cash and equivalents stood at $856.8M as of December 31, 2024. Total cash costs were $944 per ounce in Q4 and $940 per ounce for 2024, while AISC was $1,226 per ounce in Q4 and $1,285 per ounce for 2024.

At Skouries, the company updated its project schedule with first production expected in Q1 2026 and commercial production in mid-2026. The construction project capital cost increased by $143M to $1.06B. The project was 60% complete for Phase 2 of construction as of December 31, 2024.

Eldorado Gold has provided updates on its Skouries copper-gold project and 2025 guidance. Due to labor market constraints in Greece, first production at Skouries is now expected in Q1 2026, with commercial production in mid-2026. The project's capital cost estimate has increased by $143 million (15.5%) to approximately $1.06 billion.

The company's 2025 gold production guidance is set at 460,000-500,000 ounces, lower than previous outlook due to delayed Skouries production and challenges at Kisladag and Olympias. Total cash costs are expected between $980-$1,080 per ounce sold, with all-in sustaining costs of $1,370-$1,470 per ounce.

As of December 31, 2024, Skouries was 60% complete with $512 million spent and approximately $705 million remaining expenditures. The company maintains a strong financial position with $857 million in cash and total liquidity of $1.1 billion, further enhanced by the recent $155 million divestment of G Mining Ventures.

Eldorado Gold has released an updated Technical Report for the Lamaque Complex, presenting two scenarios: a Reserve Case and a PEA Case. The Reserve Case projects an 8-year mine life producing 1.2 million ounces of gold through 2032, with average annual production exceeding 175,000 oz through 2028. This case shows an after-tax NPV(5%) of $555 million at $2,000/oz gold price and $1.1 billion at $2,600/oz.

The PEA Case demonstrates potential to extend mine life by 9 additional years through 2041, adding 1.5 million ounces of incremental gold production. It maintains average annual gold production of ~185,000 oz through 2036, with an AISC of $1,149/oz Au. The PEA Case shows incremental after-tax NPV(5%) of $623 million at $2,000/oz gold price and impressive IRRs of 43.5% at $2,000/oz and 68.2% at $2,600/oz gold.

Eldorado Gold reports strong Q4 2024 gold production of 155,669 ounces and full-year production of 520,293 ounces, marking a 7% annual growth over 2023. The company exceeded the midpoint of its tightened guidance range of 505,000-530,000 ounces.

The Lamaque Complex achieved record production both quarterly and annually, with Q4 showing a 48% increase over Q3. Kisladag saw a 37% quarter-over-quarter increase in Q4, benefiting from dual ADR facilities. Efemcukuru maintained stable production, marking its 10th consecutive year of meeting guidance. Olympias experienced lower Q4 production due to maintenance challenges.

At Skouries, construction reached 60% completion for phase 2 and 82% overall completion. However, capital spending was below guidance at $320 million for 2024, primarily due to construction labor shortages in Greece. The company plans to provide an updated capital cost estimate and project schedule in February 2025.