Eldorado Gold Targets 40% Production Growth by 2027 as Skouries Ramp-Up Delays Persist
Event summary
- Eldorado Gold forecasts 2026 gold production of 490,000–590,000 ounces, an 11% increase from 2025.
- Skouries project faces a one-quarter delay in first concentrate production, now expected in early Q3 2026.
- Three-year outlook targets 40% gold production growth by 2027, driven by Skouries' commercial production.
- Total cash costs for 2026 operations estimated at $1,220–$1,420 per ounce sold.
- Exploration expenditures for 2026 range from $75–$85 million, focused on resource conversion and growth.
The big picture
Eldorado Gold is positioning itself for a significant production inflection point in 2027, with Skouries expected to drive a 40% increase in gold output. The delay in Skouries' ramp-up highlights the operational challenges of scaling up large-scale mining projects, but the company's focus on cost management and exploration suggests a strategic approach to balancing near-term hurdles with long-term growth. The broader industry context of volatile commodity prices and geopolitical risks in key jurisdictions adds complexity to Eldorado's execution roadmap.
What we're watching
- Execution Risk
- The pace at which Eldorado can mitigate Skouries' ramp-up delays and meet its 2027 production targets.
- Cost Management
- How inflation and currency fluctuations in Turkey and Greece will impact operational costs and margins.
- Resource Expansion
- Whether exploration efforts at Lamaque Complex and Olympias can deliver new resources to sustain long-term growth.
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