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Eldorado Gold – Transformational Growth in Greece in 2026

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(All amounts expressed in U.S. dollars unless otherwise noted)  VANCOUVER, British Columbia, Jan. 20...

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AI Summary

Eldorado Gold's Skouries project is expected to start concentrate production by Q1 2026, enhancing cash flow significantly. Construction and expansions across its Greek assets, including Olympias and Perama Hill, are on track, with improved concentrate terms anticipated to boost revenue. This strategic growth positions Eldorado for sustainable value and operational success in the emerging resource market.

Sentiment Rationale

Eldorado's upcoming production milestones and improved concentrate terms are likely to drive stock momentum, similar to prior instances in the gold sector where production expansion coincided with price appreciation.

Trading Thesis

Investors should consider a bullish stance on EGO as Skouries and Olympias drive revenue growth in 2026.

Market-Moving

  • Skouries project to commence concentrate production by Q1 2026, enhancing revenues.
  • Olympias expansion expected to improve processing capacity by Q4 2026, boosting output.
  • New off-take agreements will enhance product value significantly for Eldorado.
  • Uplift in concentrate terms expected to materially boost cash flow.

Key Facts

  • Skouries project targets first concentrate production by Q1 2026.
  • Olympias expansion expected to boost cash flow and throughput by Q4 2026.
  • Perama Hill's environmental assessment submitted; construction possible by 2027.
  • Improved concentrate terms will significantly enhance revenue from 2026.
  • Eldorado's projects are vital for production growth and cash flow.

Companies Mentioned

  • Eldorado Gold Corporation (EGO): Focusing on major growth projects in Greece that are set to enhance cash flow.

Corporate Developments

This content fits the 'Corporate Developments' category as it outlines key project updates and strategic initiatives impacting Eldorado Gold's operational capabilities and growth prospects, especially in the Greek market.

Eldorado Gold’s Transformational Growth in Greece: Key Updates for 2026

VANCOUVER, British Columbia, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (NYSE: EGO), a major player in mineral exploration and production, is excited to announce significant advancements in its growth projects in Greece. With three key projects – Skouries, Olympias Expansion, and Perama Hill – moving forward as expected, Eldorado is positioned for substantial production growth and enhanced cash flow starting in 2026.

Highlights of the Skouries Project

The Skouries Project is nearing its first concentrate production, anticipated by the end of Q1 2026, with commercial production slated for mid-2026. Key highlights from the Skouries Project include:

  • Overall project progress is at 90% for phase one and 78% for phase two as of December 31, 2025.
  • Completion of mechanical systems for all tailings filters.
  • Initiation of open pit mining, steadily building ore stockpiles for plant start-up.
  • Successful underground mining tests completed, contributing to surface-propped ore stockpiles.
  • Staffing for processing and maintenance is fully established, with ongoing training and pre-commissioning activities.

Commercial terms for concentrate off-take have been finalized with reputable trading firms, thanks to favorable market conditions for copper.

Olympias Expansion Progress

Construction on the Olympias Expansion project is on track, with the following developments:

  • Ongoing earthworks and infrastructure improvements.
  • Mill expansion equipment is in place, targeting a completion date in Q3 2026.
  • New concentrate contracts for 2026 feature enhanced payability terms, indicating a significant uplift in cash flow potential.

Development of Perama Hill

The Environmental Impact Assessment (EIA) for the Perama Hill project was submitted in December 2025. Key actions include:

  • Initiatives for community engagement to guarantee transparent communication and stakeholder feedback.
  • Establishment of a dedicated project team in Thrace, along with collaboration with G Mining Services Inc. to update the feasibility study.

CEO Insights on Future Growth

George Burns, Chief Executive Officer of Eldorado Gold, emphasized the exceptional progress at the Skouries Project. He remarked, “The team is focused on safely delivering the first concentrate production by the end of Q1 2026. Skouries is a cornerstone asset for Eldorado that promises to generate substantial gold and copper output, delivering robust cash flow and lasting benefits for Greece.”

In discussing Olympias, Burns highlighted that the mill expansion aims to increase capacity from 500,000 to 650,000 tonnes per annum, which will significantly enhance throughput and cash flow capabilities.

Financial Overview and Future Projections

Production and cost guidance for the Skouries Project will be published in the company’s overall guidance on February 19, 2026. Economic estimates indicate:

  • Capital costs for Skouries revised to $1.06 billion, fully funded with drawn facilities totaling €680.4 million (approximately $798.9 million).
  • Foreign exchange impacts estimated at around $43 million due to the strength of the Euro.
  • 2025 capital expenditures are projected at approximately $475 million as the company accelerates progress on critical areas.

Eldorado Gold Corporation's ongoing strategic projects in Greece, particularly the Skouries, Olympias, and Perama Hill, not only signify a major growth trajectory for the company but also its commitment to delivering enhanced shareholder value.

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