Eldorado Gold reported much stronger Q1 2026 results, driven by higher gold prices and continued build-out of its growth projects. Revenue rose to $532.4 million, up 50% year over year, while net earnings attributable to shareholders nearly doubled to $136.4 million, or $0.69 per share.
The company produced 100,358 ounces of gold, down 13% from Q1 2025 as mine plans shifted, but the average realized gold price surged to $4,891 per ounce. Higher royalties and operating costs pushed total cash costs to $1,470 per ounce and AISC to $1,942 per ounce.
Eldorado invested heavily in growth, with $318.0 million of capital expenditures, including $135.6 million at the Skouries copper‑gold project. Skouries is about 94% complete, remains on schedule for first concentrate in Q3 2026 and commercial production in Q4, but total phase‑2 project capital has been revised up to roughly $1.315 billion, about $155 million higher than the prior estimate.
The company closed its acquisition of Foran Mining, adding the McIlvenna Bay copper‑zinc‑gold‑silver project in Saskatchewan, and maintained 2026 gold production guidance of 490,000–590,000 ounces, weighted to the second half. Free cash flow was negative $129.1 million due to major project spending, though free cash flow excluding Skouries was a positive $62.9 million. Eldorado also advanced its new dividend program, declaring a Q2 dividend of $0.075 per share, and continued share buybacks, while ending the quarter with $629.7 million in cash and $1.23 billion of debt.
BlackRock Portfolio Management LLC amended its Schedule 13G to report beneficial ownership of 20,606,359 shares of Eldorado Gold Corporation common stock, representing 10.4% of the class as of 03/31/2026. The filer reports sole voting power for 20,120,375 shares and sole dispositive power for 20,606,359 shares. The filing notes that the BGF World Gold Fund holds more than 5% of the outstanding common stock and attaches exhibits for Item 7 and a power of attorney.
Eldorado Gold Corporation has completed its acquisition of all outstanding shares of Foran Mining Corporation through a court-approved plan of arrangement, making Foran a wholly owned subsidiary. Eldorado plans to delist Foran’s shares from the TSX and OTCQX and have Foran cease to be a reporting issuer in Canada.
The acquisition adds the McIlvenna Bay project in Saskatchewan to Eldorado’s portfolio, described as a high-quality, long-life copper-zinc-gold-silver asset with significant exploration potential in the Flin Flon Greenstone Belt. Eldorado highlights increased exposure to copper, a recognized critical mineral, and emphasizes long-term growth and stakeholder value.
Eldorado Gold Corporation plans to release its first quarter 2026 financial and operational results after markets close on April 30, 2026, and will discuss them on a conference call the next day. The call is scheduled for May 1, 2026 at 11:30 AM ET (8:30 AM PT).
The conference call will be accessible via webcast on Eldorado Gold’s website and through telephone dial-in numbers, with a replay available until June 12, 2026. Participants can also pre-register online to receive a calendar invite and a unique PIN for faster access.
Eldorado Gold Corporation reported the results of a special shareholder meeting held on April 7, 2026. Shareholders voted on an ordinary resolution to approve the issuance of common shares in connection with a plan of arrangement involving Eldorado, Foran Mining Corporation and Foran securityholders under section 288 of the Business Corporations Act (British Columbia).
The share issuance resolution was approved by a simple majority of shareholders voting by ballot, with 125,972,674 votes (84.21%) cast in favour and 23,629,441 votes (15.79%) cast against.
Eldorado Gold Corporation reported strong shareholder backing for its proposed transaction with Foran Mining. At a special meeting, 84.21% of votes cast approved issuing Eldorado common shares under a plan of arrangement to acquire Foran, with 149,602,115 shares voted, representing 75.31% of outstanding shares.
The Arrangement remains subject to final court approval and customary closing conditions. A hearing before the Supreme Court of British Columbia is expected on April 9, 2026, and Eldorado anticipates closing the transaction on or about April 14, 2026, adding the McIlvenna Bay gold-copper asset to its portfolio.
Eldorado Gold Corporation has filed an update reminding investors about upcoming votes on its proposed acquisition of Foran Mining Corporation by plan of arrangement. Shareholders are being asked to approve an Eldorado share issuance and Foran securityholders to approve the Arrangement itself.
Under the Arrangement terms, each Foran common share would be exchanged for 0.1128 of an Eldorado common share plus C$0.01 in cash, after which Foran would become a wholly owned Eldorado subsidiary. Special meetings for Eldorado shareholders and Foran securityholders are scheduled for April 7, 2026, with a proxy voting deadline of April 2, 2026.
Eldorado Gold Corporation files its annual report on Form 40-F and affirms corporate controls, governance, and audited financial statements. The filing states that 198,570,520 common shares were issued and outstanding as of December 31, 2025. Management concluded disclosure controls and internal control over financial reporting were effective as of that date, and KPMG LLP attested to internal control effectiveness. The report incorporates the Annual Information Form, audited consolidated financial statements for the years ended December 31, 2025 and 2024, MD&A, and related exhibits. The filing includes extensive forward-looking statements describing project plans, development risks, reserve reporting standards, and assumptions underlying guidance and objectives.
Eldorado Gold Corporation has entered into a project alliance with G Mining Services under a Memorandum of Understanding that creates a preferred engineering and construction partnership across Eldorado’s project portfolio. G Mining will support early project definition, engineering, constructability reviews and planning.
The alliance is intended to improve project readiness, delivery certainty and capital efficiency for key assets including Perama Hill, the Lamaque Complex and its Sigma Mill expansion, Skouries, Olympias and its mill filtration modernization, and McIlvenna Bay, which remains subject to completion of Eldorado’s proposed acquisition of Foran Mining.
Eldorado Gold Corporation has received a recommendation from proxy advisory firm ISS that shareholders vote FOR an ordinary resolution to approve issuing Eldorado shares for its proposed plan of arrangement with Foran Mining Corporation. The special shareholder meeting to consider this Eldorado Share Issuance Resolution is scheduled for April 7, 2026, in Vancouver.
Under the Arrangement, Eldorado has agreed to acquire all issued and outstanding Foran common shares. Each Foran shareholder, other than certain dissenting holders, would receive 0.1128 of an Eldorado share plus CAD$0.01 in cash for each Foran share. Upon completion, Foran would become a wholly owned subsidiary of Eldorado. Eldorado’s board unanimously recommends voting FOR the resolution and reminds shareholders to vote in advance, with proxy assistance and transaction details available through Laurel Hill Advisory Group and the company’s website.