Eldorado Gold's Skouries Project Set for First Concentrate Production in Q1 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Should l Buy EGO?
Source: Globenewswire
- Skouries Project Progress: The Skouries project is expected to achieve its first concentrate production by the end of Q1 2026, with overall construction progress at 90%, which will significantly enhance Eldorado's production growth and cash flow.
- Olympias Expansion Plan: The Olympias expansion project is on track for completion in Q3 2026, increasing processing capacity to 650,000 tonnes per annum, with new concentrate contracts expected to materially improve cash flow, reflecting strong market conditions.
- Perama Hill Development Progress: The Environmental Impact Assessment for the Perama Hill project was submitted in December 2025, expected to yield approximately 100,000 ounces of gold annually, marking a significant growth opportunity for Eldorado in Greece.
- Community Engagement and Transparency: Eldorado is actively conducting community consultations for the Perama Hill project to ensure stakeholder feedback is incorporated into development, enhancing the company's social responsibility and sustainable development strategy.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy EGO?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on EGO
Wall Street analysts forecast EGO stock price to fall
7 Analyst Rating
4 Buy
2 Hold
1 Sell
Moderate Buy
Current: 45.150
Low
29.00
Averages
37.08
High
47.00
Current: 45.150
Low
29.00
Averages
37.08
High
47.00
About EGO
Eldorado Gold Corporation is a Canada-based gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece. The Company operates four mines: Kisladag, Efemcukuru, Lamaque, and Olympias. The Kisladag, Efemcukuru and Lamaque mines are gold mines, while Olympias is a polymetallic operation producing three concentrates bearing gold, lead-silver and zinc. Kisladag is a low-grade, bulk-tonnage, open-pit operation that uses heap leaching for gold recovery. It is located in Usak Province in western Turkiye. Efemcukuru is a high-grade, underground operation located in Izmir Province in western Turkiye. The Lamaque Complex is located in Val-d'Or, Quebec. It includes the Triangle mine, the Ormaque mine, the Parallel deposit, the Plug #4 deposit, and the Sigma Mill. Olympias is a gold-silver-lead-zinc mine located in the Halkidiki Peninsula in northern Greece. It also operates the Bruell Gold Project 51 claim property in Vauquelin township, Quebec.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tungsten Prices Surge Amid GoldHaven Resources Developments
- Surge in Tungsten Prices: Tungsten prices have tripled since early 2024, with ammonium paratungstate reaching $1,125 to $1,150 per metric tonne in China, significantly impacting the global tungsten supply chain and prompting increased investment in critical minerals by Western nations.
- Accelerated Policy Response: Secretary of State Marco Rubio hosted the inaugural Critical Minerals Ministerial with delegations from over 50 countries, signing eleven bilateral frameworks and committing over $30 billion in strategic mineral financing, highlighting the importance of mineral resources.
- GoldHaven Resources Progress: GoldHaven confirmed anomalous tungsten mineralization at its Magno project, with recent assays showing up to 6,550 ppm tungsten at Vines Lake, validating historical data and expanding the known footprint, indicating potential for multi-metal discoveries in the region.
- Successful Drilling Programs: GoldHaven completed its inaugural diamond drilling at the Copeçal Gold Project in Brazil, discovering potential gold-copper systems, while confirming high-grade copper mineralization at the Three Guardsmen Project with grades up to 15.85%, further solidifying its strategic positioning across multiple projects.
See More
Tungsten Prices Surge; GoldHaven Resources Reports New Discoveries
- Surge in Tungsten Prices: Tungsten prices have tripled since early 2024, with ammonium paratungstate reaching $1,125 to $1,150 per metric tonne in China, significantly impacting global tungsten supply chains and prompting increased investment in critical minerals by Western nations.
- Strategic Discoveries: GoldHaven Resources confirmed anomalous tungsten mineralization at its Magno Property, with surface exploration in 2025 revealing tungsten concentrations up to 6,550 ppm, indicating the potential for a multi-metal deposit that could drive future resource development for the company.
- Multi-Metal Potential: The discovery of high-grade silver-lead-zinc mineralization at the Magno project, with silver grades reaching 2,370 grams per tonne, further validates the area's mineral potential, likely attracting more investor interest.
- Drilling Program Progress: GoldHaven completed its inaugural drilling program at the Copeçal Gold Project in Brazil, discovering high-grade copper mineralization with grades up to 15.85%, showcasing the project's significant economic value.
See More
China's Export Restrictions Reshape Global Mining Landscape
- Strategic Shift: China's export restrictions on silver, tungsten, and antimony signal a major strategic shift in global procurement, prompting the U.S. government to mobilize over $30 billion to secure critical mineral supply chains, thereby elevating defense priorities significantly.
- Resource Development Plan: RUA GOLD Inc. has initiated an aggressive development plan with four drill rigs at the Reefton Goldfield in New Zealand, planning to submit a fast-track referral application in Q1 2026, which, if approved, would enter the fastest six-month permitting window globally, significantly accelerating project timelines.
- High-Grade Discovery: Drilling at the Auld Creek target revealed a significant intersection of 3.0 meters at 21.27 g/t AuEq, extending the deposit strike length to 870 meters, indicating substantial mineral potential in the area that could attract further investment.
- M&A Trends: The 2026 mining M&A landscape focuses on consolidation and supply chain security, with Eldorado Gold's merger with Foran Mining expected to generate approximately $2.1 billion in EBITDA annually, further solidifying its leadership position in the gold-copper sector.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Eldorado Gold Acquires Foran Mining for C$3.8B, Expanding Copper Exposure
- Acquisition Overview: Eldorado Gold (EGO) has agreed to acquire Foran Mining (FMCXF) for approximately C$3.8 billion (US$2.8 billion), significantly increasing its investment in copper and enhancing its competitive position in the market.
- Shareholder Structure Changes: Under the deal terms, Foran shareholders will receive 0.1128 common shares of Eldorado for each Foran share held, resulting in existing Eldorado shareholders owning about 76% of the combined company, while Foran shareholders will hold the remaining 24%.
- Future Production Expectations: The combined company is projected to produce around 900,000 gold equivalent ounces by 2027, primarily supported by two fully financed development projects—Skouries in Greece and McIlvenna Bay in Saskatchewan—expected to reach commercial production by mid-2026.
- Financial Outlook: Eldorado anticipates generating approximately $2.1 billion in EBITDA and $1.5 billion in free cash flow by 2027, with CEO George Burns stating that this merger creates a stronger gold and copper growth company characterized by near-term cash flow generation and multiple catalysts.
See More
Eldorado Gold to Acquire Foran Mining for CAD 3.8 Billion
- Acquisition Overview: Eldorado Gold Corporation has agreed to acquire Foran Mining Corporation in a deal valued at approximately CAD 3.8 billion (around USD 2.8 billion), with Foran shareholders receiving 0.1128 Eldorado common shares plus one cent in cash per share, representing an 8% premium to the 20-day volume-weighted average price.
- Combined Company Structure: Post-transaction, Eldorado shareholders will own about 76% of the combined entity, while Foran shareholders will hold the remaining 24%, with the merged company expected to have a balanced exposure of approximately 77% gold, 15% copper, and 8% other metals across Canada, Greece, and Türkiye.
- Project Development Outlook: The combined company will benefit from two fully financed development projects, Skouries and McIlvenna Bay, projected to commence commercial production by mid-2026, with an expected output of around 900,000 gold-equivalent ounces in 2027, capitalizing on strong metal prices and rising demand for critical minerals.
- Strategic Growth Plans: Eldorado aims to accelerate high-value organic growth by developing Foran’s high-grade polymetallic Tesla zone and unlocking exploration potential around existing assets, with CEO George Burns emphasizing that this merger creates a stronger gold and copper growth company defined by near-term cash flow generation and multiple catalysts.
See More
Tungsten Prices Surge Amid GoldHaven Resources Developments
- Surge in Tungsten Prices: Tungsten prices have tripled since early 2024, with ammonium paratungstate reaching $1,125 to $1,150 per metric tonne in China, significantly impacting the global tungsten supply chain and prompting increased investment in critical minerals by Western nations.
- Accelerated Policy Response: Secretary of State Marco Rubio hosted the inaugural Critical Minerals Ministerial with delegations from over 50 countries, signing eleven bilateral frameworks and committing over $30 billion in strategic mineral financing, highlighting the importance of mineral resources.
- GoldHaven Resources Progress: GoldHaven confirmed anomalous tungsten mineralization at its Magno project, with recent assays showing up to 6,550 ppm tungsten at Vines Lake, validating historical data and expanding the known footprint, indicating potential for multi-metal discoveries in the region.
- Successful Drilling Programs: GoldHaven completed its inaugural diamond drilling at the Copeçal Gold Project in Brazil, discovering potential gold-copper systems, while confirming high-grade copper mineralization at the Three Guardsmen Project with grades up to 15.85%, further solidifying its strategic positioning across multiple projects.
See More
Tungsten Prices Surge; GoldHaven Resources Reports New Discoveries
- Surge in Tungsten Prices: Tungsten prices have tripled since early 2024, with ammonium paratungstate reaching $1,125 to $1,150 per metric tonne in China, significantly impacting global tungsten supply chains and prompting increased investment in critical minerals by Western nations.
- Strategic Discoveries: GoldHaven Resources confirmed anomalous tungsten mineralization at its Magno Property, with surface exploration in 2025 revealing tungsten concentrations up to 6,550 ppm, indicating the potential for a multi-metal deposit that could drive future resource development for the company.
- Multi-Metal Potential: The discovery of high-grade silver-lead-zinc mineralization at the Magno project, with silver grades reaching 2,370 grams per tonne, further validates the area's mineral potential, likely attracting more investor interest.
- Drilling Program Progress: GoldHaven completed its inaugural drilling program at the Copeçal Gold Project in Brazil, discovering high-grade copper mineralization with grades up to 15.85%, showcasing the project's significant economic value.
See More
China's Export Restrictions Reshape Global Mining Landscape
- Strategic Shift: China's export restrictions on silver, tungsten, and antimony signal a major strategic shift in global procurement, prompting the U.S. government to mobilize over $30 billion to secure critical mineral supply chains, thereby elevating defense priorities significantly.
- Resource Development Plan: RUA GOLD Inc. has initiated an aggressive development plan with four drill rigs at the Reefton Goldfield in New Zealand, planning to submit a fast-track referral application in Q1 2026, which, if approved, would enter the fastest six-month permitting window globally, significantly accelerating project timelines.
- High-Grade Discovery: Drilling at the Auld Creek target revealed a significant intersection of 3.0 meters at 21.27 g/t AuEq, extending the deposit strike length to 870 meters, indicating substantial mineral potential in the area that could attract further investment.
- M&A Trends: The 2026 mining M&A landscape focuses on consolidation and supply chain security, with Eldorado Gold's merger with Foran Mining expected to generate approximately $2.1 billion in EBITDA annually, further solidifying its leadership position in the gold-copper sector.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Eldorado Gold Acquires Foran Mining for C$3.8B, Expanding Copper Exposure
- Acquisition Overview: Eldorado Gold (EGO) has agreed to acquire Foran Mining (FMCXF) for approximately C$3.8 billion (US$2.8 billion), significantly increasing its investment in copper and enhancing its competitive position in the market.
- Shareholder Structure Changes: Under the deal terms, Foran shareholders will receive 0.1128 common shares of Eldorado for each Foran share held, resulting in existing Eldorado shareholders owning about 76% of the combined company, while Foran shareholders will hold the remaining 24%.
- Future Production Expectations: The combined company is projected to produce around 900,000 gold equivalent ounces by 2027, primarily supported by two fully financed development projects—Skouries in Greece and McIlvenna Bay in Saskatchewan—expected to reach commercial production by mid-2026.
- Financial Outlook: Eldorado anticipates generating approximately $2.1 billion in EBITDA and $1.5 billion in free cash flow by 2027, with CEO George Burns stating that this merger creates a stronger gold and copper growth company characterized by near-term cash flow generation and multiple catalysts.
See More
Eldorado Gold to Acquire Foran Mining for CAD 3.8 Billion
- Acquisition Overview: Eldorado Gold Corporation has agreed to acquire Foran Mining Corporation in a deal valued at approximately CAD 3.8 billion (around USD 2.8 billion), with Foran shareholders receiving 0.1128 Eldorado common shares plus one cent in cash per share, representing an 8% premium to the 20-day volume-weighted average price.
- Combined Company Structure: Post-transaction, Eldorado shareholders will own about 76% of the combined entity, while Foran shareholders will hold the remaining 24%, with the merged company expected to have a balanced exposure of approximately 77% gold, 15% copper, and 8% other metals across Canada, Greece, and Türkiye.
- Project Development Outlook: The combined company will benefit from two fully financed development projects, Skouries and McIlvenna Bay, projected to commence commercial production by mid-2026, with an expected output of around 900,000 gold-equivalent ounces in 2027, capitalizing on strong metal prices and rising demand for critical minerals.
- Strategic Growth Plans: Eldorado aims to accelerate high-value organic growth by developing Foran’s high-grade polymetallic Tesla zone and unlocking exploration potential around existing assets, with CEO George Burns emphasizing that this merger creates a stronger gold and copper growth company defined by near-term cash flow generation and multiple catalysts.
See More
