M&A / Property Routine +

Foran Mining holders approve merger with Eldorado Gold

Eldorado clears final shareholder hurdle, paving way for Foran merger completion

By The Northwire Desk — AI Analysis Apr 07, 2026 · 21:49 ELD · 48.86 Eldorado Gold Corporation

Executive Summary

On April 7 2026, securityholders of Foran Mining Corp. voted 83.4% in favour of the proposed business combination with Eldorado Gold Corp.
The vote satisfied all required thresholds (≥2/3 of common and non‑voting shareholders together, ≥2/3 of all securityholders as a single class, simple majorities for each class).
Closing is expected on or about April 14 2026, subject to the Supreme Court of British Columbia order, Eldorado shareholder approval, and customary closing conditions.

Material Impact

The approval removes the last major shareholder‑approval obstacle; the transaction was already anticipated after earlier votes (Eldorado’s 84.21% approval on April 7 and Foran’s own vote on April 7).
Because the market had been informed of an imminent merger and the voting outcomes were broadly expected, the news is routine rather than a surprise catalyst.
The impact is still positive: it confirms that the combination will proceed as scheduled, preserving the projected 2027 EBITDA (~$2.1 bn) and free‑cash‑flow (~$1.5 bn) benefits outlined in earlier circulars. No new valuation uplift or downside risk appears.

ELD · Price

Company Overview

Eldorado Gold Corp. is a mid‑tier gold and copper producer with operations in Canada (Lamaque Complex), Greece (Skouries, Olympias, Perama Hill) and Turkey (Kisladag, Efemcukuru).
Flagship projects:
Skouries (Greece): Fully financed copper‑gold development; first concentrate production targeted for Q1 2026, commercial output mid‑2026.
McIlvenna Bay (Saskatchewan, Canada): High‑grade gold‑copper project owned by Foran Mining; will become part of the combined entity after merger.

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