Eldorado Gold (ELO1) AI Stock Analysis

Company Guidance

For 2026, Eldorado expects operating assets excluding Skouries and McIlvenna Bay to produce 410,000 ounces-430,000 ounces of gold, Skouries to produce 10,000 ounces-35,000 ounces of gold and 5 million lbs-15 million lbs of copper, and both Skouries and McIlvenna Bay to achieve commercial production in late Q4; Skouries project capital is approximately $1.425 billion, accelerated operational capital is $390 million, and up to an additional $30 million contingency may be incurred, while McIlvenna Bay project capital to commercial production is expected to be $975 million, with approximately $15 million of 2026 growth capital post commercial production and $10 million of sustaining capital post commercial production. For 2027, previously guided ranges include 140,000 ounces-160,000 ounces for Kışladağ, 150,000 ounces-180,000 ounces and 50 million lbs-70 million lbs of copper for Skouries, and 75,000 ounces-90,000 ounces for Olympias, with Olympias probably at the lower end of that range right now; nameplate capacity at Skouries and McIlvenna Bay is guided by the middle of 2027, the whole ore agglomeration circuit is expected to commission and ramp up in the first half of 2027, McIlvenna Bay OpEx is expected to reach $90-$110 per tonne, initially around the upper end of that range, and exploration could receive $80 million-$100 million, with no major projects next year and 2028 the earliest for material construction spend.