Eldorado Gold Announces First Copper-Gold Concentrate at Skouries

Eldorado Gold Corporation (ELD) produced its first copper-gold concentrate at the Skouries mine on September 8, 2026. The company describes the event as a transition from construction to operations and a key step toward commercial production, which is still expected in the fourth quarter of 2026. Crushing, grinding, flotation, and tailings thickening circuits are currently operating.

An ore stockpile now exceeds 4.6 million tonnes, described as above reserve grade, and is said to underpin more than seven months of processing throughput. Temporary on-site power supports early operations, while national grid connection is expected in September 2026, subject to final inspections, testing, and metering by the Greek transmission authority.

The release repeats Skouries life-of-mine average production of 140,000 ounces of gold and 67 million pounds of copper per year. The release is a milestone confirmation, not an earnings or full production update; no first-concentrate grades, recovery rates, or throughput figures are disclosed.

Eldorado Gold Corporation’s first concentrate production at Skouries represents a genuine operational milestone, though the event was explicitly guided for the third quarter of 2026 and had already been telegraphed in the July 30 earnings release, the July 20 first-ore announcement, and earlier updates. The market had already priced in much of this expectation, with shares gaining approximately 33% from a close of $45.89 on July 30, 2026, to a close of $60.96 on September 8.

The recent release adds modest incremental detail, noting that the stockpile has grown from approximately 3.9 million tonnes in July to more than 4.6 million tonnes. However, this increase does not materially change reserve life, net asset value drivers, or near-term cash flow. Additionally, the grid-connection timeline has slipped from late August to September, a small negative against the most recent guidance that partly offsets the positive headline.

Eldorado Gold Corporation (ELD) is a Vancouver-based producer of gold, copper, and base metals with operations in Canada, Greece, and Türkiye. Its producing assets include the Lamaque Complex and McIlvenna Bay in Canada, Kisladag and Efemcukuru in Türkiye, and Olympias in Greece. The company also owns Skouries, a 100%-owned copper-gold porphyry project in northern Greece that is moving from construction into commissioning. Other assets include the Perama Hill and Stratoni Skarn projects in Greece, as well as exploration upside at McIlvenna Bay, including the Tesla Zone.

The company changed materially in 2026 with the acquisition of Foran Mining, completed on April 14, 2026. The transaction added McIlvenna Bay to Eldorado’s portfolio and significantly increased shares outstanding.