Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Earnings

Eldorado Gold Reports Solid First Quarter 2026 Financial and Operational Results; Skouries Steadily Advancing Towards First Concentrate Production

Gold Price Surge Masks Skouries Cost Overruns as Eldorado Reports Strong Q1 Earnings

By The Northwire Desk — AI Analysis Apr 30, 2026 · 17:12 ELD · 41.97 Eldorado Gold Corporation
Executive Summary
  • Eldorado Gold reported First Quarter 2026 revenue of $532.4 million and net earnings of $136.4 million ($0.69 per share).
  • Average realized gold price was exceptionally high at $4,891 per ounce compared to $2,933 in Q1 2025.
  • Gold production decreased by 13% year-over-year to 100,358 ounces.
  • Skouries Project capital estimate revised upward by approximately $155 million to a new total of $1.315 billion due to labor and material costs.
  • First concentrate production at Skouries expected in Q3 2026; commercial production targeted for Q4 2026.
  • Acquisition of Foran Mining Corporation completed on April 14, 2026, adding the McIlvenna Bay project to the portfolio.
  • Cash and cash equivalents stood at $629.7 million as of March 31, 2026.
Material Impact
  • The financial results are materially positive driven by record gold prices rather than operational volume growth.
  • Revenue increased significantly ($532M vs $355M in Q1 2025) due to the realized price of $4,891/oz, which is well above previous guidance assumptions of $4,000/oz.
  • Operational performance shows a material negative trend with production down 13% and Skouries capital costs increasing by an additional ~$155 million from prior estimates (previously cited around $1.06B-$1.16B in Feb guidance).
  • The acquisition of Foran Mining is completed, adding copper exposure and McIlvenna Bay assets as previously announced; this was a known milestone rather than new information.
  • Cash position remains robust at nearly $630 million, mitigating immediate liquidity risks despite the capital cost increase on Skouries.
  • The market has already priced in much of the operational risk given the stock correction from $67 (Jan 2026) to current levels ($40), making this news a confirmation of existing trends rather than a shock event.
ELD · Price
Company Overview
  • Eldorado Gold is a gold and base metals producer with operations in Turkey (Kisladag, Efemcukuru), Canada (Lamaque Complex), and Greece (Skouries, Olympias).
  • Flagship Project: Skouries is the primary growth driver, a copper-gold mine expected to be fully commercial by Q4 2026.
  • Recent Acquisition: McIlvenna Bay project in Saskatchewan acquired from Foran Mining adds copper-zinc-gold-silver exposure and extends the company's Canadian footprint.
  • Production Profile: Diversified across multiple jurisdictions with a mix of underground (Lamaque, Olympias) and open-pit operations.
Read the original news release →

More from Eldorado Gold Corporation

Oct 28, 2026 · 17:01

Eldorado’s Skouries ramp delay forces a 2026 guidance reset and cost blowout.

Earnings Oct 26, 2026 · 17:00

Eldorado has installed two of six Skouries filter presses, with four units still pending delivery by November against a fourth-quarter target.

Production / Operations Oct 09, 2026 · 14:33

Eldorado’s Skouries project received EU Critical Raw Materials designation, with Q4 commercial production serving as the near-term catalyst.

Regulatory Sep 28, 2026 · 07:00

Eldorado’s Skouries grid tie eliminates power risk, making ramp-up and cost management the primary focus for the project’s future performance.

Production / Operations Sep 08, 2026 · 17:00

Eldorado’s Skouries project produced its first concentrate on schedule, with grid construction and ramp-up now underway.

Production / Operations Jul 30, 2026 · 17:01

Eldorado Gold Provides Update on Executive Leadership Transition

Management