Eldorado Gold Corporation announced a Board leadership transition, with Dan Myerson appointed Chair and Patrick Godin appointed Lead Independent Director. Steven Reid has stepped down as Chair and from the Board after more than five years as Chair and 13 years as a director. The changes are part of an ongoing, previously outlined succession and renewal process intended to support governance continuity during a period of significant growth.
The company states that Skouries is nearing commercial production and McIlvenna Bay is ramping up operations, and that it has a strong portfolio of growth opportunities and long mine lives with progress toward lower costs. Eldorado includes extensive cautionary language that these expectations are forward-looking and subject to risks described in its Annual Information Form and Form 40-F.
Eldorado Gold Corporation is implementing a planned leadership transition effective September 30, 2026. George Burns will retire as Chief Executive Officer and remain on the Board of Directors, while Christian Milau will become President and Chief Executive Officer and join the Board.
On the same date, Frank Herbert will move from Executive Vice President, General Counsel & Chief Compliance Officer to a Senior Advisor role ahead of his planned retirement in Q2 2027, and Tamiko Ohta will be appointed Senior Vice President, Legal and General Counsel. Paul Ferneyhough will expand his responsibilities to Executive Vice President, Strategy and Chief Financial Officer, adding oversight of Corporate Development and Legal. With Skouries moving from construction into operations, the Executive Vice President, Development, Greece role will be eliminated and Louw Smith will leave the company; responsibility for Greece operations will shift to Niklas Frank, Senior Vice President Operations, Europe. The company describes these changes as part of an ongoing, orderly succession planning process supporting its growth strategy and key development projects.
Eldorado Gold, a gold, copper and base metals producer in Canada, Turkiye and Greece, reported solid H1 2026 results. Revenue was $487.5 million in Q2 and $1,019.9 million year-to-date, with net earnings attributable to shareholders of $172.8 million in Q2 and $309.2 million for six months, or basic EPS of $0.69 and $1.38.
Gold production was 104,616 ounces in Q2 and 204,974 ounces year-to-date, with an average realized gold price of $4,379 and $4,632 per ounce and all-in sustaining costs of $1,926 and $1,934 per ounce sold, respectively.
The company completed the $2,394,995 thousand Foran Mining acquisition, adding the McIlvenna Bay copper-zinc asset, and advanced the Skouries copper-gold project toward first concentrate in Q3 2026. Total assets were $10,252.2 million, debt $1,749.9 million, and cash $554.6 million at June 30, 2026. Eldorado updated 2026 gold production guidance to 495,000–600,000 ounces and continued capital returns via share buybacks and a quarterly dividend of $0.075 per share.
Eldorado Gold reported stronger profitability in Q2 2026 despite lower gold output. Revenue was $487.5 million and net earnings attributable to shareholders rose to $172.8 million, or $0.69 per share, from $138.0 million a year earlier, helped by an average realized gold price of $4,379 per ounce. Adjusted net earnings were $136.7 million and Adjusted EBITDA reached $281.1 million.
Gold production declined to 104,616 ounces from 133,769 ounces as planned lower output at Kisladag and lower grades at Efemcukuru were partly offset by higher volumes at Lamaque. Cost metrics increased, with total cash costs of $1,432 and all‑in sustaining costs of $1,926 per ounce sold.
Cash from operating activities was $149.5 million, while heavy growth spending at Skouries and McIlvenna Bay drove free cash flow to negative $334.1 million. Cash and cash equivalents were $554.6 million against total debt of $1,749.9 million.
At Skouries, construction was 97% complete with first concentrate targeted for Q3 2026 and commercial production in Q4 2026; cumulative Phase 2 project capital reached $1.270 billion. McIlvenna Bay achieved initial copper concentrate in June and is ramping toward commercial production in Q3 2026. The company updated 2026 gold guidance to 495,000–600,000 ounces and declared a $0.075 per‑share Q3 dividend, while also announcing a planned CEO transition effective September 30, 2026.
Eldorado Gold Corporation reports a key milestone at its Skouries copper-gold project in Northern Greece, with first ore now processed through the crushing circuit as the project enters staged commissioning. The company continues to target first copper-gold concentrate in Q3 2026 and commercial production in Q4 2026, subject to final site energization, integrated commissioning and ramp-up.
Power infrastructure is advancing, with all 12 transmission towers and conductors completed, initial substation tests finished and final energization pending inspections, testing and metering by the Greek authority. Open-pit mining is ahead of schedule, supporting an ore stockpile of about 3.9 million tonnes, expected to provide ore feed through 2026 and underpin a controlled plant ramp-up while underground development continues.
BlackRock Portfolio Management LLC, a Delaware entity, reports beneficial ownership of 23,655,913 shares of Eldorado Gold Corporation common stock on Schedule 13G/A (Amendment No. 3). This represents 9.1% of the outstanding common shares as of June 30, 2026.
BlackRock reports sole voting power over 23,257,909 shares and sole dispositive power over all 23,655,913 shares, with no shared voting or dispositive power. The position is held across various accounts; no single other person has an interest in more than five percent of Eldorado Gold’s outstanding common shares.
Eldorado Gold Corporation has filed an update explaining how investors can access its upcoming Second Quarter 2026 financial and operational results. The company will release its Q2 2026 results after the market closes on July 30, 2026.
Eldorado will then host a conference call on July 31, 2026 at 11:30 AM ET (8:30 AM PT), with a live webcast available through its website and a replay accessible until September 11, 2026. The notice also provides contact details for investor relations and media inquiries.
Eldorado Gold Corporation reported the voting results from its 2026 Annual Meeting of Shareholders. All director nominees listed in the May 7, 2026 Management Proxy Circular were elected, with support levels generally above 80% of votes cast and several above 90%.
The Board highlighted progress at key projects, including Skouries approaching first concentrate production, advancement of the Olympias expansion, and the addition of the McIlvenna Bay project through the acquisition of Foran Mining. Eldorado described these milestones, alongside portfolio optimization initiatives, as supporting future growth in production, free cash flow and long-term shareholder value.
The company thanked departing directors Stephen Walker and Hussein Barma and welcomed new director Patrick Godin, who brings more than 40 years of mining industry experience. The news release also includes extensive cautionary language about forward-looking statements, outlining assumptions and risks that could cause actual results to differ from current expectations.
Eldorado Gold Corporation reported the results of its 2026 Annual Shareholders Meeting held on June 23, 2026. All management nominees for the board of directors were elected, each receiving strong majority support, with individual support levels generally above 80% of votes cast.
Shareholders approved the appointment of KPMG LLP as auditors with 190,070,607 votes for, representing 98.55% of ballots cast. They also authorized the directors to fix the auditors’ remuneration with 192,516,290 votes for, or 98.62% support. An advisory resolution endorsing the company’s approach to executive compensation was approved with 174,883,535 votes for, equal to 97.93% of votes cast.
Eldorado Gold Corporation reports that it has been named to Corporate Knights’ 2026 Best 50 Corporate Citizens in Canada ranking. This list highlights Canadian companies with strong environmental, social and governance performance.
The company emphasizes that sustainability is embedded across its business, from exploration through operations, with a focus on safety, inclusive workplaces, responsible production, environmental stewardship and engagement with host communities. Management links this recognition to its strategy of advancing a pipeline of long-life assets and pursuing disciplined, sustainable growth across operations in Canada, Greece and Türkiye.