Eldorado Gold Completes Acquisition of Foran Mining

The most recent release (April 14, 2026) confirms the completion of the acquisition of Foran Mining Corporation. This transaction adds the McIlvenna Bay project to Eldorado's portfolio, providing exposure to copper and base metals alongside its gold assets. The deal was approved by shareholders in early April and closed as scheduled. Key details include the delisting of Foran from TSX/OTCQX and the integration of the McIlvenna Bay deposit (copper-zinc-gold-silver) into Eldorado's operations. This follows a series of approvals and circular mailings throughout March 2026, culminating in this final closure step.

While the acquisition completion is strategically significant for diversifying revenue streams with copper exposure (~15% of portfolio), it is largely priced in given the announcement was made in February 2026 and shareholder approval occurred on April 7, 2026. The market has already reacted to the M&A news (price rally from $26 to $67 in early 2026) and subsequently corrected due to Skouries guidance updates in February. Therefore, this specific release is a procedural milestone rather than a fundamental surprise. It removes execution risk regarding the merger but does not introduce new reserve data or cost metrics that would justify an immediate re-rating beyond what was anticipated in the joint circular. The primary impact is the removal of uncertainty, stabilizing the stock after the March/April correction.

Eldorado Gold operates a portfolio of gold and base metal assets across Greece, Turkey, Canada, and Tükiye. Flagship projects include: * Skouries (Greece): A major copper-gold development project expected to reach commercial production in Q4 2026. It is the primary growth driver but has faced delays ($50M cost increase). * Lamaque Complex (Canada): Underground gold mine with ongoing expansion studies for Sigma Mill throughput (targeting 5,000 tpd). * McIlvenna Bay (Canada - Acquired): Copper-zinc-gold-silver deposit in Saskatchewan. Adds critical mineral exposure and diversification away from pure gold. * Kisladag & Efemcukuru (Turkey): High-grade underground operations subject to significant royalty structures.