Eldordo Gold Provided Update on Skouries Project, Revised Cost Guidance

SEATTLE (Scrap Monster):  An update on the development of the copper-gold Skouries Project was given by Eldorado Gold Corporation. Additionally, the business released comprehensive production and cost projections for the current year. It also revealed a revised three-year growth profile.

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The first production at Skouries is now anticipated to take place in the first quarter of 2026, the company said. It is anticipated that commercial production would start in the middle of 2026. In comparison to earlier estimates, the project capital cost has now climbed by approximately 15.5%, or $143 million, to reach around $1.06 billion. It has also sped up the acquisition of mobile mining equipment with greater capacity.

Due primarily to the shift in starting production at the Skouries Project from Q3 2025 to Q1 2026, the company has revised its 2025 gold output projection. From the previous forecast, the projected output has now been reduced to between 460,000 and 500,000 ounces. Reduced expected production at the Olympias and Kisladag mines is another factor contributing to the decreased production projection.

According to a corporate press release, wage constraints in Quebec and Turkey as well as increased royalties from several existing projects have caused a significant increase in expenditures.