Eldorado Gold Corporation reported leadership changes aimed at strengthening operations and project development. The company appointed Simon Hille as Executive Vice President and Chief Operating Officer, expanding his responsibilities to global operations, projects, exploration, and health, safety and sustainability, with an emphasis on operational excellence and consistent performance.
Gordana Vicentijevic was appointed Senior Vice President, Projects, effective May 4, 2026, bringing nearly three decades of experience in mining operations, project management, and engineering design and construction across mining, oil and gas, and chemical plants. Management highlighted these updates as reinforcing focus on operational discipline and rigorous execution of growth initiatives.
Eldorado Gold Corporation reports that it has received an Operating Authorization from Quebec’s Ministry of the Environment for the high-grade Ormaque deposit at its Lamaque Complex in Val‑d’Or. This allows Ormaque to mine underground ore and deliver it to the existing Sigma mill, unlocking value from prior development spending.
Ormaque, accessed via existing underground infrastructure near the Triangle deposit, is expected to enhance production flexibility by adding another source of high-grade feed to be blended for the mill. Eldorado highlights exploration upside at Ormaque, including the SE Zone, Ormaque West veins and the Garnet Zone, which could provide future mill feed and support mine life extension if drilling is successful.
In parallel, Eldorado is advancing studies to potentially increase Sigma mill throughput from approximately 2,500 tonnes per day towards its fully permitted capacity of 5,000 tonnes per day by leveraging existing infrastructure and debottlenecking. Management views the Lamaque Complex as a cornerstone asset and emphasizes ongoing investment in underground development, regional exploration and relationships with local and Indigenous communities.
Eldorado Gold Corporation has mailed a joint management information circular to its shareholders and those of Foran Mining Corporation for meetings to vote on Eldorado’s previously announced combination with Foran. The circular outlines the background of the deal and the resolutions securityholders will consider.
The board of Eldorado unanimously recommends that shareholders vote in favour of the Eldorado share issuance resolution related to the transaction. Eldorado also announced a planned leadership transition, with CEO George Burns retiring in Q3 2026 as the Skouries project ramps up and President Christian Milau becoming CEO and joining the board at that time.
Mr. Burns will remain on the board after retirement. As part of board succession, Chair Steven Reid plans to retire at the 2027 annual meeting, and, following completion of the Foran transaction, Foran’s Executive Chair and CEO, Dan Myerson, will join Eldorado’s board as Deputy Chair.
Eldorado Gold Corporation has called a special shareholder meeting for April 7, 2026 to approve issuing new Eldorado shares under a proposed plan of arrangement with Foran Mining Corporation. Foran securityholders will vote the same day in Toronto on the transaction.
Under the arrangement, Foran shareholders (other than dissenting holders and Eldorado or its affiliates) would receive 0.1128 of an Eldorado common share plus $0.01 in cash for each Foran common share, including shares issued on conversion of non-voting shares and equity awards. The deal requires court approval in British Columbia, securityholder approvals at both meetings and various regulatory and stock exchange approvals, including treatment under Canadian Competition Act rules and a U.S. Securities Act exemption under Section 3(a)(10).
Eldorado Gold Corporation filed a Form 6-K detailing an amending agreement to its Arrangement Agreement with Foran Mining Corporation. The amendment replaces the prior plan of arrangement with a new Plan of Arrangement attached as Schedule A.
The updated plan confirms that each Foran share will be exchanged for consideration consisting of 0.1128 Eldorado Gold share plus $0.01 in cash, under a court-approved arrangement governed by British Columbia corporate law. The document also sets out procedures for dissent rights, tax treatment, and the handling of options, RSUs and DSUs as part of the proposed transaction.
Eldorado Gold Corporation reports 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. This award recognizes mining operations that achieve Level AAA – the highest rating – across all applicable TSM performance indicators, as verified by independent external auditors.
The Lamaque Complex earned Level AAA on all applicable indicators, and only five other facilities have received this recognition to date, with none since 2020. The company also notes that Lamaque has been certified in full compliance with the International Cyanide Management Code, highlighting its focus on safe and environmentally responsible cyanide management in gold production.
Eldorado Gold issued 2026 guidance and a three-year outlook showing a significant growth phase anchored by the Skouries project. Total gold production in 2026 is expected between 490,000 and 590,000 ounces, about an 11% increase from 2025 at the mid-point, with 65% of output weighted to the second half.
The outlook targets gold production of 620,000–720,000 ounces in 2027 and 640,000–740,000 ounces in 2028, representing roughly 40% growth versus 2025. Skouries first concentrate is now expected in early Q3 2026, with commercial production in Q4, adding 60,000–100,000 ounces of gold and 20–40 million pounds of copper in 2026 and driving lower AISC at that operation of ($100) to $200 per ounce.
Eldorado Gold Corporation reports strong audited results for 2025, with revenue from metal sales of $1,818,856 and net earnings of $504,304, both well above 2024 levels. Basic earnings per share rose to $2.50 from $1.42, reflecting higher mine operating margins and improved profitability.
Operating cash flow from continuing operations reached $742,509, supporting significant investment of $866,362 in property, plant and equipment, including major project spending. Year-end cash and cash equivalents were $869,356, while total debt increased to $1,275,052 (current and long-term).
The company completed the sale of its Romanian segment, recording a discontinued operations loss of $17,945. KPMG issued unqualified opinions on both the consolidated financial statements and the effectiveness of internal control over financial reporting as of December 31, 2025.
Eldorado Gold reported much stronger 2025 results, with revenue of $1,818.9M, up sharply from 2024, driven mainly by a higher average realized gold price of $3,505 per ounce. Gold production was 488,268 ounces, near the top of guidance, while gold sales slipped modestly to 491,204 ounces.
Net earnings from continuing operations rose to $519.9M, or $2.56 per basic share, and adjusted net earnings reached $354.9M. Net cash generated from operating activities increased to $742.5M, although heavy investment at the Skouries project led to negative free cash flow of $232.9M, versus positive $19.8M in 2024.
Consolidated total cash costs climbed to $1,176 per ounce and all-in sustaining costs to $1,664 per ounce, reflecting higher royalties, inflationary pressures and increased sustaining capital. At Skouries, construction progress reached 90% overall, with first concentrate production now expected in early Q3 2026 and commercial production in Q4 2026. Year-end cash and cash equivalents were $869.4M and debt rose to $1,275.1M.