Eldorado Gold reports $1.8B revenue and strategic expansion in 2025 results

Eldorado Gold Corporation has released its financial results for 2025, reporting strong revenue and cash flow. The company also announced key developments in its mining operations and a major acquisition to expand its portfolio. These moves come alongside adjustments to production timelines and increased investment in exploration.

The company recorded annual revenue of $1.8 billion in 2025, with operating cash flow reaching $743 million. This performance was supported by gold production meeting the higher end of its guidance.

Eldorado Gold has finalised its acquisition of Foran Mining, a deal that broadens its exposure to copper and speeds up diversification. The combination of the two companies is expected to boost free cash flow, strengthen production, and lower costs.

At the Skouries project, construction is now 90% complete. However, first production will face delays and higher costs, creating short-term uncertainty. Adjustments to the ramp-up plan will increase ore stockpiles and improve plant readiness for processing higher-grade material. The company has also secured better-than-expected terms for Skouries concentrate offtake contracts, lifting projected margins and flexibility.

Capital spending at the Kisladag mine will rise due to additional waste stripping. Meanwhile, Efemcukuru remains sensitive to cost fluctuations. Looking ahead, Eldorado Gold forecasts gold production of 490,000–590,000 ounces in 2026, 620,000–720,000 ounces in 2027, and 640,000–740,000 ounces in 2028.

Exploration investment will grow by 60% in 2026, targeting resource upgrades and new discoveries across key regions. The company has also introduced a formal capital return program, including share buybacks and plans for a dividend.

Eldorado Gold's 2025 results highlight solid financial performance and strategic growth. The Foran Mining acquisition and Skouries adjustments aim to improve long-term gold price margins, despite near-term delays. With higher exploration spending and a new capital return policy, the company is positioning itself for future expansion.