[SCHEDULE 13G/A] Eldorado Gold Corporation SEC Filing

Rhea-AI Filing Summary

Helikon Investments Limited and Federico Riggio report beneficial ownership of 4,760,879 common shares of Eldorado Gold Corp, representing 2.32% of the class based on an outstanding share count of 205,469,879. The shares are held through Helikon Long Short Equity Fund Master ICAV, managed by Helikon UK, a United Kingdom public limited company regulated by the Financial Conduct Authority.

The filing is a Schedule 13G amendment (Amendment No. 8) and discloses no sole voting or dispositive power — only shared voting and shared dispositive power for the reported shares. The certifying statement indicates the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Positive

• Reported stake of 2.32% is clearly disclosed with the aggregate share count and denominator for transparency
• Holdings managed by an FCA-regulated investment manager (Helikon UK), showing regulatory oversight
• Statement that shares are held in the ordinary course of business, consistent with passive Schedule 13G treatment

Negative

• Position is under 5%, so it is non-controlling and below thresholds that often prompt deeper investor scrutiny
• No sole voting or dispositive power is reported, indicating limited unilateral influence over corporate decisions

Insights

Financial Analyst

TL;DR Helikon reports a modest 2.32% non-controlling stake in EGO; no sole voting power was reported.

Helikon Investments Limited and Federico Riggio together report ownership of 4,760,879 common shares, equal to 2.32% of Eldorado Gold's outstanding common stock based on the filing's stated denominator. The position is held via the Helikon Long Short Equity Fund Master ICAV managed by Helikon UK, which the filing identifies as FCA-regulated. The reporting shows only shared voting and dispositive power and asserts the holdings are in the ordinary course of business, consistent with Schedule 13G treatment for passive investors. From an ownership-impact perspective, this disclosure documents a visible but non-controlling institutional stake, below the 5% threshold that typically triggers additional scrutiny or a Schedule 13D requirement.

Corporate Governance Expert

TL;DR Filing documents passive institutional ownership with shared authority; it does not indicate intent to influence control.

The Schedule 13G/A characterizes the reporting persons as an investment manager and an individual, each disclaiming sole voting or dispositive authority while reporting shared powers over the same block of 4,760,879 shares. The certification explicitly states the position was acquired and is held in the ordinary course and not to influence control, aligning with typical governance disclosures for passive investors. The filing’s form and language reduce immediate governance concerns for Eldorado Gold, as no activist intent or controlling influence is asserted.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 8)

ELDORADO GOLD CORP /FI

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

284902509

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 284902509

1

Names of Reporting Persons

Helikon Investments Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,760,879.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,760,879.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,760,879.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.32 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 284902509

1

Names of Reporting Persons

Federico Riggio

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ITALY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,760,879.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,760,879.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,760,879.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.32 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ELDORADO GOLD CORP /FI
(b)	Address of issuer's principal executive offices: Floor - 550 Burrard Street, Bentall 5, Vancouver, B.C., Canada V6C 2B5.
Item 2.
(a)	Name of person filing: (i) Helikon Investments Limited a United Kingdom public limited company ("Helikon UK"), with respect to the common shares without par value (the "Common Shares") of Skeena Resources Ltd., a Vancouver corporation (the "Company"), held by Helikon Long Short Equity Fund Master ICAV (the "Helikon Fund") managed by Helikon UK and (ii) Federico Riggio ("Mr. Riggio", and together with Helikon UK, the "Reporting Persons"), with respect to the Common Shares directly held by the Helikon Fund.
(b)	Address or principal business office or, if none, residence: (i) Helikon UK; 17 Waterloo Place, London SW1Y 4AR. (ii) Mr. Riggio 17 Waterloo Place, London SW1Y 4AR.
(c)	Citizenship: Helikon UK is a United Kingdom public limited company organized under the laws of the United Kingdom. Mr. Riggio is a citizen of the Italy.
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 284902509
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Helikon UK is an investment manager, authorized and regulated by the Financial Conduct Authority in the United Kingdom which is comparable to the regulatory scheme applicable to the investment advisers covered by Item 3(e) above.
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 205,469,879 Shares outstanding.
(b)	Percent of class: 2.32%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Helikon UK is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Helikon Investments Limited

Signature:	/s/ Paul McLernon
Name/Title:	Paul McLernon - Director
Date:	08/13/2025

Federico Riggio

Signature:	/s/ Federico Riggio
Name/Title:	Federico Riggio
Date:	08/13/2025

Exhibit Information

Exhibit I JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: August 14, 2025 Helikon Investments Limited By: /s/ Paul McLernon Paul McLernon | Director Federico Riggio By: /s/ Federico Riggio

FAQ

How many Eldorado Gold (EGO) shares does Helikon report owning?

The filing reports 4,760,879 shares, representing 2.32% of the class based on 205,469,879 shares outstanding.

Does Helikon or Federico Riggio have sole voting power over these EGO shares?

No. The filing reports 0 sole voting power and 4,760,879 shared voting power.

Through which vehicle are the shares held?

The shares are held by Helikon Long Short Equity Fund Master ICAV, which is managed by Helikon Investments Limited (Helikon UK).

What type of SEC filing was submitted for EGO?

A Schedule 13G amendment (Amendment No. 8) was filed reporting passive beneficial ownership.

Does the filing indicate Helikon intends to influence control of Eldorado Gold?

No. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.