Eldorado enters construction alliance with G Mining

Executive Summary

• Eldorado Gold Corp. has entered into a Memorandum of Understanding (MoU) with G Mining Services Inc. to establish a strategic engineering and construction alliance.
• The partnership aims to leverage G Mining’s integrated owners team approach and execution capabilities to enhance project readiness, delivery certainty, and capital efficiency across Eldorado’s global portfolio.
• The alliance covers early project definition, engineering support, constructability reviews, and planning for specific key assets, including Perama Hill, Lamaque, Skouries, Olympias, and McIlvenna Bay.

Key Details

• Parties Involved: Eldorado Gold Corp. (Partner) and G Mining Services Inc. (Service Provider/Partner).
• Agreement Type: Memorandum of Understanding (MoU) for a strategic engineering and construction alliance.
• Scope of Services: G Mining will provide engineering and construction services, including early project definition, engineering support, constructability reviews, and planning.
• Target Projects Covered:
  • Perama Hill: General project support.
  • Lamaque Complex: Includes Sigma mill expansion.
  • Skouries: Construction support for mill start-up/ramp-up and underground project infrastructure.
  • Olympias: Mill filtration modernization project and supporting facility upgrades.
  • McIlvenna Bay: Studies and potential implementation of projects to increase throughput, improve value, and optimize material handling (subject to the completion of the proposed acquisition of Foran Mining).
• Strategic Rationale: The alliance is intended to maximize value from sector-leading growth projects, derisk opportunities, and position Eldorado to maximize cash flow per share from its high-quality internal growth pipeline.
• Performance Reference: The agreement cites G Mining’s successful delivery of the Tocantinzinho project in Brazil as evidence of their ability to deliver high-quality projects on time and on budget.

Notable Quotes

• Simon Hille, Chief Operating Officer, Eldorado Gold: "The MoU aligns with Eldorado's strategy to maximize value from our sector-leading growth projects by leveraging G Mining's integrated owners team approach and proven engineering and execution capabilities... Establishing a preferred engineering and construction partner strengthens our project delivery model through consistent teams, aligned ways of working and a strong track record of safe reliable execution, positioning Eldorado to maximize cash flow per share from our high-quality internal growth pipeline."
• Mathieu Gignac, President and CEO, G Mining Services: "G Mining's delivery model is built around engaged planning, talented and empowered teams, and our disciplined execution model... We are pleased to establish this alliance with Eldorado Gold and look forward to supporting the successful delivery of projects across their portfolio."