Eldorado Gold-Foran Merger to Create Major Gold-Copper Mining Company

SEATTLE (Scrap Monster): Eldorado Gold Corporation and Foran Mining Corporation have announced a definitive agreement that will see Eldorado acquire Foran, creating a sector-leading gold-copper mining company with strong growth visibility and diversified assets. The combination positions Eldorado to capitalize on robust metal prices and rising demand for critical minerals.

The merged company will unite two fully financed development projects, Skouries in Greece and McIlvenna Bay in Saskatchewan, both on schedule and on budget to reach commercial production by mid-2026. With a strengthened Canadian footprint and a peer-leading exploration pipeline, the group is designed to deliver resilient, long-term cash flows capable of funding future growth internally.

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Under the court-approved plan of arrangement, Foran shareholders will receive 0.1128 Eldorado shares plus C$0.01 in cash per share, valuing Foran at approximately C$3.8 billion. Upon closing, Eldorado and Foran shareholders will own roughly 76% and 24% of the combined entity, respectively.

Strategically, the transaction offers near-term production growth, meaningful EBITDA and free cash flow potential, long-life gold-copper exposure across Canada, Greece, and Turkiye, and significant exploration upside. The deal is expected to close in Q2 2026 period.