Latest news with #EldoradoGold
Yahoo
3 days ago
- Business
- Yahoo
Eldorado Gold (EGO) Posts 52% Revenue Jump as Skouries Project Nears Completion
Eldorado Gold Corporation (NYSE:EGO) is one of the best Canadian gold stocks to buy according to hedge funds. On July 31, the company announced Q2 2025 financial and operational results. The results were robust, highlighted by a significant revenue increase and progress at its flagship Skouries project in Greece. During the quarter, total revenue reached $451.7 million, a 52% year-over-year increase. The company stated the growth came on the back of higher gold prices and production. Net earnings from continuing operations were $139 million ($0.68 per share), up from $56.4 million ($0.28 per share) in Q2 2024, and adjusted net earnings came in at $90.1 million ($0.44 per share). Invest in Gold Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA American Hartford Gold: #1 Precious Metals Dealer in the Nation The company produced 133,769 ounces of gold in the quarter, with sales of 131,489 ounces at an average realized gold price of $3,270 per ounce. However, production costs ramped up by 27% year-over-year to $162.2 million, and all-in sustaining costs (AISC) reached $1,520 per ounce (up 14%). The company attributed the rising costs to higher royalties (from elevated gold prices), as well as increased labor expenses. The Skouries project remains Eldorado's most important growth initiative, now 70% complete as of Q2 2025. Eldorado Gold Corporation (NYSE:EGO) is a Canadian mining company. It acquires, explores, develops, and operates gold and base metal properties, primarily through its Kisladag and Efemçukuru gold mines in Türkiye, the Lamaque gold mine in Quebec, Canada, and the Olympias and Skouries copper-gold projects in Greece. Its main product is gold bullion, extracted from both open-pit and underground mining operations. While we acknowledge the potential of EGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Top 10 Medical AI Companies to Buy According to Analysts. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
04-08-2025
- Business
- Yahoo
Eldorado Gold: The Success or Failure of the Company Rests on the Skouries Project.-
1: Introduction: Eldorado Gold is an attractive mid-cap gold mining company, but it comes with risks. As of mid-2025, Eldorado Gold has a market capitalization of approximately $4.3 billion, classifying the company as a mid-cap gold mining company. For investors wondering whether investing in Eldorado Gold is worthwhile, let's examine the business in details. Warning! GuruFocus has detected 5 Warning Sign with EGO. Eldorado Gold operates several producing mines in countries such as Turkey, Greece, and Canada. While it is not on the same scale as global giants like Newmont Corporation (NYSE:NEM) or Barrick Gold (NYSE:B), the company's smaller size offers greater growth potential, albeit at a higher risk profile. Eldorado Gold primarily operates as a gold mining company, with gold revenue constituting nearly 87% of its total revenue in 1Q25. However, with the addition of the Skouries mine, the company plans to diversify its revenues by incorporating copper by mid-2026, starting with the production of gold and copper concentrate in 1Q26. Eldorado Gold has a riskier investment profile, primarily due to its operations in Greece. The one-year chart comparison below shows that EGO is underperforming relative to KGC and AEM, but it performs similarly to its large-cap peers, NEM and B. The completion of the Skouries mine next year is crucial. Eldorado Gold has encountered significant financial difficulties in the past, primarily due to its troubled Skouries project in Greece. The company invested over $1 billion but was unable to commence production because construction was halted by illegal delays and permitting issues caused by a leftist government. By 2017, the Skouries project was placed on care and maintenance, resulting in millions of dollars in annual losses for the company. As financial pressures mounted and gold prices remained low, well below $2,000 per ounce, Eldorado warned that it could no longer sustain the project. Furthermore, the situation was worsened by a major crisis at the K??lada? mine in Turkey, which put additional pressure on the company's finances and eroded investor confidence. In 2017, Eldorado Gold announced that gold recovery rates from its heap leach process at the K??lada? mine had dropped sharply. This unexpected decline compelled the company to suspend operations and abandon a costly mill project, resulting in a severe impact on its cash flow. However, the company demonstrated resilience by optimizing heap leaching, improving operational efficiency, and maintaining production at K??lada? in the 45,000-ounce range, thereby overcoming this financial hurdle. In 2023, the company reached a pivotal moment by obtaining new permits, primarily for the Skouries project, and securing a 680 million loan at a favorable interest rate. The Skouries mine is scheduled to commence production of gold and copper in 1Q26, with commercial output anticipated by mid-2026. The target for that year is to produce up to 155,000 ounces of gold and 60 million pounds of copper. With gold prices exceeding $3,300 per ounce and a positive outlook for copper, Eldorado Gold is well-positioned to increase its production significantly in 2026. A review of quarterly gold production indicates we can anticipate a production increase of about 20% or more in 2026. Eldorado Gold currently has four producing mines: Epemcukuru (Turkey, high-grade underground gold), K??lada? (Turkey, heap leach gold), Olympias (Greece, gold, silver, lead, and zinc), and Lamaque (Canada, underground gold). According to the data below, production at Olympias decreased year-over-year, while it increased at K??lada?. Efemcukuru and Lamaque were essentially the same. The significant factor that propelled Eldorado Gold to record levels is the surge in gold prices that skyrocketed in 2025. Upon examining the quarterly gold prices received by the company, we can observe a significant increase. The gold price is expected to reach $3,180 per ounce in the second quarter of 2025. AISC (All-In-Sustaining Costs) is a critical metric that provides investors with a clear and standardized view of the total expenses involved in producing an ounce of gold. Eldorado's All-In Sustaining Costs (AISC) reached a record high of $1,559 per ounce in 1Q25, representing a notable increase from $1,262 in the same quarter last year, as shown in the graph above. This rise can be attributed to higher labor costs, increased capital spending, and operational challenges at Olympias, where costs soared to $2,842 per ounce due to processing inefficiencies. Incidently, AISC was also elevated at Lamaque due to deeper mining. However, as the Skouries project moves closer to production and additional efficiency initiatives take effect, Eldorado should be able to significantly reduce its AISC, potentially aligning it more closely with its peers. The gold price is expected to remain strong in the coming years due to global economic uncertainty, inflation concerns, and geopolitical tensions. This leads to a positive outlook for Eldorado Gold. As central banks continue to diversify their reserves and investors seek safe-haven assets amid market volatility, demand for gold is expected to remain elevated. Furthermore, copper prices have surged recently, with U.S. futures reaching record highs (~$5.64/lb), driven by a 50% tariff announcement and low global inventories. The gold price has encountered strong resistance since April 2025, and it is uncertain whether it will continue to rise. Interest rate decisions by the U.S. Federal Reserve and other central banks will play a significant role. If rates decline as expected, gold could see further gains due to lower opportunity costs. This scenario is the most likely. The Federal Reserve will probably cut interest rates two more times in 2025. Additionally, increasing demand from emerging markets and continued production constraints may support higher prices. While short-term fluctuations are unavoidable, the long-term outlook for gold remains bullish, especially if economic instability or currency devaluation persists. Overall, gold is poised to retain its value as a hedge against uncertainty. 2: Eldorado Gold: A good financial profile is reassuring. Eldorado Gold had a strong start to 2025, demonstrating solid financial and operational momentum in the first quarter. What stood out was that the revenue increased 38% year-over-year to $355.25 million, driven by record gold prices, despite lower gold production. The company reported $72.40 million in net earnings. This quarter emphasizes that Eldorado is transforming into a more stable, high-potential mid-tier gold producer. Due to the ongoing construction of the Skouries mine, the company reported negative free cash flow of $26.08 million in 1Q25. However, with $978.14 million in cash and cash equivalents, Eldorado demonstrates substantial financial strength, particularly as it continues to develop the Skouries project, which is now over 66% complete and is scheduled to produce commercially in mid-2026. Finally, Eldorado Gold maintains a good debt profile. As of 1Q25, total debt stands at around $940.97 million, largely tied to long-term notes and project-specific financing for Skouries, which is non-recourse to the company. With $978.14 million in cash and a further $241 million in undrawn credit, Eldorado's liquidity exceeds $1.2 billion. Low leverage ratios and prudent debt management reflect a conservative approach, giving the company financial flexibility to fund growth while maintaining strong balance sheet discipline. Below is shown the quarterly debt versus cash history: 3: Conclusion: Investing in EGO is a sensible decision; however, the stock appears to be overbought. Investing in Eldorado Gold can be a wise long-term decision due to its strong fundamentals, promising production outlook, particularly with the Skouries mine set to start production in 2026, and favorable market conditions for gold. However, caution is advised in the short term due to market volatility. Current technical indicators suggest that the stock is slightly overbought, meaning recent gains may have exceeded its intrinsic value. This could result in a short-term pullback or a consolidation phase, which is supported by the technical analysis below. As a result, investors might consider waiting for a more favorable entry point or employing a staggered investment strategy to reduce risk. It's also essential to monitor broader market sentiment, geopolitical factors, and trends in commodity prices to determine the best timing for investment. Overall, while Eldorado Gold remains a promising asset, disciplined buying and careful risk management are recommended at this point. 4: Technical Analysis: Ascending Wedge Pattern. Eldorado Gold appears to be forming an ascending wedge pattern, with resistance near $22 and support around $20. While the stock has been climbing steadily, this pattern often suggests a potential bearish breakdown, especially as momentum begins to Relative Strength Index (RSI) is currently at 55 and gradually decreasingnot a red flag just yet, but it could signal early signs of weakness. If this trend continues, we might see a breakdown in the next couple of to the uncertainty is the broader context: geopolitical tensions are high, and the Federal Reserve's next move regarding interest rates is uncertain. Any surprises in this area, whether a rate cut or a decision to hold, could impact the gold price and subsequently affect EGO.I'll be closely monitoring for any break below $20 or signs of weakening volume, as this could shift the outlook from cautious optimism to increased downside risk. With a support level of around $20, now may be a good time to consider adding to your position, starting at $20 (50MA), with an expectation of a possible breakdown to $17-$19. Additionally, selling a portion of your shares may be wise once the stock price rises between $21 and $ 22.50. Selling part of your position using the LIFO (Last In, First Out) method is essential, particularly if the stock shows a false bullish breakout followed immediately by a quick and prolonged retracement. Please refer to the chart above for additional information. It is essential to take partial short-term profits using the LIFO method. Consider selling about half of your position for short-term trading while keeping a modest core long-term investment. Warning: The technical analysis chart should be updated regularly to ensure accuracy. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
17-07-2025
- Business
- The Market Online
Established producer ElDorado buys into Quebec junior gold miner
Quebec junior gold miner Amex Exploration (TSXV:AMX) will undertake an up to C$30 million non-brokered private placement Eldorado Gold (TSX:ELD) will make a C$17.6 million investment as part of the financing Amex Exploration is expanding high-grade gold and copper-rich volcanogenic massive sulphide zones at its 45.18-square-kilometre Perron gold project Amex Exploration stock has added 2.37 per cent year-over-year but remains down by 45.94 per cent since 2020 Quebec junior gold miner Amex Exploration (TSXV:AMX) will undertake an up to C$30 million non-brokered private placement. The transaction is split into 11 million charity flow-through shares priced at C$2.27 for gross proceeds of up to C$24.97 million, as well as up to 3.125 million hard-dollar shares priced at C$1.60 for gross proceeds of up to C$5 million. This content has been prepared as part of a partnership with Amex Exploration Inc., and is intended for informational purposes only. Eldorado Gold (TSX:ELD), an established gold and base metals producer in Canada, Turkey and Greece, intends to make a C$17.6 million investment as part of the placement, picking up 11 million shares priced at C$1.60, granting it a 17 per cent stake in Amex on an undiluted basis. According to ElDorado's July 2025 investor presentation, the company produced 520,293 ounces of gold in 2024 and holds 11.9 million ounces in proven and probable reserves. Amex will use the funds to define targets and drill its Perron gold project, where estimated resources stand at 1.615 million ounces measured and indicated and 698,000 ounces inferred. According to Thursday's news release, Amex will make use of Canada's flow-through shares program, which allows mining, oil & gas and renewable energy companies to ease their capex burden by passing on exploration and development expenses to investors. The financing is expected to close by August 7, 2025. Leadership insights 'Eldorado's strategic investment significantly strengthens our exploration budget and reaffirms the high-quality potential of the Perron project and the recently acquired Perron West project,' Victor Cantore, Amex Exploration's president and chief executive officer, said in a statement. 'With a strong resource estimate already defined, we see substantial untapped upside across the broader property. This funding will enable us to aggressively pursue new targets and further demonstrate the scale and opportunity in the broader district-scale camp.' About Amex Exploration Amex Exploration is expanding high-grade gold and copper-rich volcanogenic massive sulphide (VMS) zones at its 45.18-square-kilometre Perron gold project in Quebec. The adjacent 151.92-square-kilometre Perron West project, spread across Quebec and Ontario, features geology highly suggestive of high-grade gold and VMS mineralization. Amex Exploration stock (TSXV:AMX) last traded at C$1.73. The stock has added 2.37 per cent year-over-year but remains down by 45.94 per cent since 2020. Join the discussion: Find out what everybody's saying about this Quebec junior gold and copper miner on the Amex Exploration Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Associated Press
17-07-2025
- Business
- Associated Press
Amex Exploration Announces up to C$30 Million Private Placement, Led by Strategic Investment by Eldorado Gold
Montreal, Quebec--(Newsfile Corp. - July 17, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ('Amex' or the 'Company') is pleased to announce a non-brokered private placement of 11,000,000 charity flow-through common shares (the 'CFT Shares') at a price of C$2.27 per CFT Share, for gross proceeds of up to C$24,970,000 (the 'Offering'). The Company may also issue up to an additional 3,125,000 hard dollar common shares (the 'HD Shares') at a price of C$1.60 per HD Share, for gross proceeds of up to C$5,000,000. As part of the Offering, Eldorado Gold Corporation ('Eldorado') intends to make a strategic investment in the Company through the purchase of 11,000,000 common shares of the Company at a price of C$1.60 per common share, for gross proceeds of C$17,600,000. Upon closing of the Offering, Eldorado will own approximately [17]% of Amex's issued and outstanding shares (on an undiluted basis). Victor Cantore, President and CEO of Amex, states, 'Eldorado's strategic investment significantly strengthens our exploration budget and reaffirms the high-quality potential of the Perron project and the recently acquired Perron West project. With a strong resource estimate already defined, we see substantial untapped upside across the broader property. This funding will enable us to aggressively pursue new targets and further demonstrate the scale and opportunity in the broader district scale camp.' The Company intends to use the net proceeds of the Offering to fund exploration across the Perron Gold Project with a focus on new target definition and drilling. Each CFT Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada). The gross proceeds from the Offering will be used by the Company to incur eligible 'Canadian exploration expenses' that qualify as 'flow-through mining expenditures' (as such terms are defined in the Income Tax Act (Canada)) (the 'Qualifying Expenditures') related to the Company's Perron Gold Project, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscriber for the CFT Shares with an effective date on or before December 31, 2025, in accordance with the requirements of the Income Tax Act (Canada). The closing of the Offering is expected to occur on or before August 7, 2025, and is subject to the satisfaction of certain conditions, including receipt of acceptance of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws. Mills Dunlop Capital Partners Ltd. is acting as financial advisor to the Company in connection with the strategic investment. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities issued under the Offering in the United States. The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Amex Exploration Inc. Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 km north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles. When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization. The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers. For further information please contact: Victor Cantore President and Chief Executive Officer Tel: +1-514-866-8209 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking statements NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
Yahoo
15-07-2025
- Business
- Yahoo
Eldorado Gold Provides Q2 2025 Conference Call Details
VANCOUVER, British Columbia, July 14, 2025 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation ('Eldorado' or the 'Company') will release its Second Quarter 2025 Financial and Operational Results after the market closes on Thursday, July 31, 2025, and will host a conference call on Friday, August 1, 2025 at 11:30 AM ET (8:30 AM PT). Q2 2025 Financial and Operational Results Call Details The call will be webcast and can be accessed at Eldorado Gold's website: or via: Conference Call Details Replay (available until September 12, 2025) Date: August 1, 2025 Toll: +1 412 317 0088 Time: 11:30 AM ET (8:30 AM PT) Toll Free: 1 855 669 9658 Dial in: +1 647-846-2782 Access code: 9731074 Toll free: 1 833 752 3325 Participants may elect to pre-register for the conference call via this link: Upon registration, participants will receive a calendar invitation by email with dial in details and a unique PIN. This will allow participants to bypass the operator queue and connect directly to the conference. Registration will remain open until the end of the conference call. About Eldorado Gold Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO). Contact Investor Relations Lynette Gould, VP, Investor Relations, Communications & External Affairs647 271 2827 or 1 888 353 8166 MediaChad Pederson, Director, Communications and Public Affairs236 885 6251 or 1 888 353 8166 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
