Eldorado Gold reported Q3 revenue of $434.7 million, representing a 12% increase year-over-year driven by record average realized gold prices and higher throughput across its core assets. Gold production reached 128,500 ounces in the quarter, a 9% improvement over Q3 2024, led by strong performance at Lamaque and Olympias, where mill availability exceeded 92%. Higher cost inputs from royalty adjustments and inflationary pressures added approximately $15 per ounce to all-in sustaining costs, which nevertheless remained within guidance at $975 per ounce. The company ended the quarter with cash and equivalents of $650 million and undrawn credit capacity of $200 million, maintaining a conservative balance sheet as it progresses its growth pipeline.

Construction at the Skouries copper-gold porphyry project in Northern Greece is now 90% complete for phase one and 78% for phase two, with mechanical completion of all six tailings filters achieved in December. Open-pit mining has advanced ahead of schedule, stockpiling 1.2 million tonnes of ore for the concentrator startup. Underground development has completed one of two planned test stopes, adding 30,000 tonnes of high-grade ore to surface stockpiles. First copper-gold concentrate production is targeted for end of Q1 2026, with commercial ramp-up by mid-year. Total project capital invested to date stands at $1.058 billion, fully funded through a combination of the €680.4 million Commercial Loan Facility and internal cash flow.

At Olympias, earthworks and infrastructure upgrades are advancing on schedule, with mill capacity set to increase from 500,000 to 650,000 tonnes per annum by Q3 2026. All expansion equipment is on site and new off-take agreements negotiated for 2026 volumes are expected to deliver a 15% improvement in payability and treatment terms. Meanwhile, Perama Hill has submitted its Environmental Impact Assessment and launched two parallel stakeholder consultations under Greek and company auspices. A dedicated project team in Thrace has engaged G Mining Services to update the feasibility study, targeting a high-grade, low-cost operation that could add 80,000 ounces of annual gold equivalent production from 2028 onward.