Eldorado Gold reports Q3 EPS 41c, consensus 47c

Reports Q3 revenue $434.7M, one estimate $418.9M. Gold production: 115,190 ounces benefitting from higher production at the Lamaque Complex as a result of accelerated processing of the remaining portion of the second bulk sample at Ormaque, offset by lower than expected production at Olympias as a result of continued challenges in the flotation circuit. Gold sales: 116,529 ounces at an average realized gold price per ounce sold1 of $3,527. “Driven by sustained high gold prices, we delivered a strong financial performance during this quarter, generating $76.9 million in free cash flow, excluding our investment in Skouries,” said George Burns, Chief Executive Officer. “We advanced development at Ormaque and successfully completed processing of the second bulk ore sample. The Olympias expansion to 650,000 tonnes per annum remains on track, while at Kisladag, we are moving forward with whole ore agglomeration as part of our growth initiatives. These projects along with other ongoing efforts across our portfolio are key near-term drivers to our strategy for long-term value creation, supporting increased production, lower costs and enhanced profitability. The Skouries Project marked a significant milestone this week with the successful execution of the first underground test stope blast, reinforcing its steady progress. In the open pit, four crews are now operational, and we are transitioning to a rotation running 24 hours a day, seven days a week. Ore stockpiling is well underway in preparation for the project’s commissioning phase, with first concentrate production expected toward the end of Q1 2026. We continue to de-risk key areas ahead of schedule and have initiated early pre-operational testing and operational readiness activities across various areas at site. Our focus remains on safety and disciplined execution through the final phases of mechanical, piping, electrical, instrumentation as we continue to maintain the project schedule and budget. Our continued share buybacks, totaling approximately $78.8 million this quarter, underscore our disciplined approach to capital allocation and confidence in our long-term growth. With robust gold prices and a strong balance sheet, we’re committed to returning capital to shareholders while advancing our strategic priorities.”