Eldorado Gold’s Lamaque Complex Receives TSM Gold Leadership Award; Certified in Full Compliance with International Cyanide Code Management
Rhea-AI Summary
Eldorado Gold (NYSE: EGO) announced that its Lamaque Complex in Val-d'Or, Québec received the TSM Gold Leadership Award after achieving Level AAA across all applicable TSM indicators, and was certified in full compliance with the International Cyanide Management Code.
Only five other facilities have earned this recognition to date, and this is the first award since 2020. Eldorado says TSM protocols are embedded in its Sustainability Integrated Management System.
Positive
- Lamaque earned Level AAA across all applicable TSM indicators
- TSM Gold Leadership Award received; one of six facilities to date
- Certified in full compliance with the International Cyanide Management Code
- TSM protocols embedded in company Sustainability Integrated Management System since 2021
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
Gold peers show broad weakness, with 6 momentum-screened names down around 5.8–7.0%, while EGO was down only 0.19%, suggesting sector pressure rather than company-specific selling.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 19 | Guidance & outlook | Positive | -9.7% | 2026 guidance and three-year outlook targeting ~40% gold production growth. |
| Feb 19 | Earnings results | Positive | -9.7% | Strong 2025 financial and operational results with significant free cash flow excluding Skouries. |
| Feb 02 | M&A announcement | Positive | -8.8% | Agreement to acquire Foran Mining and create a larger gold‑copper producer. |
| Jan 26 | Exploration update | Positive | +0.1% | Strong exploration results and increased 2026 exploration budget across key assets. |
| Jan 22 | Dividend program | Positive | +0.7% | Launch of a new quarterly dividend program and capital return framework details. |
Recent history shows several sharp selloffs on otherwise growth-oriented or positive updates, suggesting a pattern of negative price reactions to strategic and financial news.
Over the last few months, Eldorado Gold has outlined a growth-focused strategy, including 2026 guidance targeting higher production and cash flow, a planned acquisition of Foran Mining to build a larger gold‑copper producer, and strong 2025 financial results. It also announced multiple high‑grade discoveries and a new quarterly dividend of US$0.075 per share. Despite generally positive fundamentals, several of these updates were followed by notable short‑term share price declines.
Market Pulse Summary
This announcement highlights Eldorado’s Lamaque Complex achieving TSM Gold Leadership status with Level AAA ratings across all applicable indicators, plus full compliance with the International Cyanide Management Code. These milestones reinforce a company-wide sustainability framework launched in 2021 through SIMS. In context of recent growth guidance, M&A activity, and stronger financial results, investors may watch how these ESG credentials influence community relations, permitting, and long-term operational risk at Lamaque and other sites.
AI-generated analysis. Not financial advice.
VANCOUVER, British Columbia, March 03, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE American: EGO) (“Eldorado” or the “Company”) is pleased to announce that its Lamaque Complex in Val‑d’Or, Québec has received the Towards Sustainable Mining (TSM) Gold Leadership Award from the Mining Association of Canada (MAC) in recognition of its outstanding performance in responsible mining.
The TSM Gold Leadership Award recognizes mining operations that achieve Level AAA – the highest possible rating – across all applicable TSM performance indicators, as verified by independent external auditors. The Lamaque Complex earned Level AAA across its applicable indicators, reflecting excellence in the operations sustainability practices. Only five other facilities have received this recognition to date, and this is the first time it has been awarded since 2020.
“Receiving the TSM Gold Leadership Award for our Lamaque Complex is a tremendous honour for Eldorado Gold,” said George Burns, Chief Executive Officer. “This recognition reflects the dedication of our employees and our unwavering commitment to responsible mining in Québec and across our global operations, where TSM protocols are applied as a matter of practice under Eldorado’s Sustainability Integrated Management System.”
“This award belongs to our entire team, as well as our local partners and communities of interest who help guide our work and decisions,” said Sylvain Lehoux, Vice President, Canada. “This recognition reflects the care our employees take every day to operate safely, ensure a healthy environment, and work collaboratively with our local communities of interest. This was a multi-year journey that began at the earliest days of the Lamaque mine.”
TSM performance is externally verified on a three‑year cycle and evaluated against rigorous environmental and social standards, including climate change, water stewardship, tailings management, Indigenous and community relationships, safety and health, biodiversity conservation, and crisis management. Eldorado applies TSM protocols across all of its global mining operations, including Canada as a mandatory requirement of membership in the Mining Association of Canada.
“The Gold Leadership Award represents the best of the best when it comes to exemplary responsible practices and strong commitments to environmental and social performance,” said Pierre Gratton, MAC’s President and CEO. “Our industry has a particularly important role to play in ensuring that the minerals and metals needed for the economy, national security, and the technologies we rely on are readily available, and it is essential that they are produced to the highest standards in the world, including through TSM.”
TSM is embedded in Eldorado’s Sustainability Integrated Management System (SIMS), which provides a set of company-wide sustainability standards that establish minimum performance requirements for the management of health, safety, environment, social performance and security. First launched in early 2021, SIMS was developed in alignment with internationally recognized standards, including TSM. SIMS is regularly reviewed and updated based on evolving standards, and is seen by the Company as a critical tool for driving its sustainability performance.
In addition to the award recognition from MAC, the International Cyanide Management Institute announced last week that the Lamaque Complex has been certified in full compliance with the International Cyanide Management Code, a voluntary industry program dedicated to the safe and environmentally responsible management of cyanide used in gold and silver production.
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
Contact
Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
lynette.gould@eldoradogold.com
Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
chad.pederson@eldoradogold.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a2fbde7f-b235-42e4-8ddc-8b3209ec5d51
FAQ
What did Eldorado Gold (EGO) announce about the Lamaque Complex on March 3, 2026?
What does Level AAA for TSM mean for Eldorado Gold's (EGO) Lamaque Complex?
How rare is the TSM Gold Leadership Award received by Eldorado Gold (EGO)?
What is the significance of the International Cyanide Management Code certification for EGO's Lamaque Complex?
How does Eldorado Gold (EGO) apply TSM across its operations following the Lamaque award?
Who verified the TSM Level AAA rating for Eldorado Gold's (EGO) Lamaque Complex?
