Eldorado Gold Corp

Eldorado Gold 200x300px

Primary ticker: TSX:ELD, NYSE:EGO

Stage of development: Production

Primary minerals: Gold

Project to promote: Skouries

Project location: Greece

Website: www.eldoradogold.com

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, 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.

Cash: 542M
Debt: 542M

Major shareholders:
Helikon – 13.9%
Van Eck Associates – 11.1%
Donald Smith & Co – 46.8%
BlackRock Investment Management (U.K) – 6.8
Dimensional Fund Advisors – 4.8%


Management Profile

George Burns joined Eldorado on February 1, 2017 and assumed the role of President and Chief Executive Officer on April 28, 2017. Prior to joining us, George was Executive Vice President and Chief Operating Officer at Goldcorp. He also held the Goldcorp positions of Senior Vice President, Mexican Operations and Vice President, Canada and United States respectively. Prior to that he was Senior Vice President & Chief Operating Officer of Centerra Gold Inc.

George has over 30 years of experience in the mineral sector including executive, operations, development and engineering leadership roles in gold, copper and coal operations. George has served in various capacities for Asarco LLC including Vice President of Mining as well as numerous capacities for Cyprus Minerals Corporation. He began his career with Anaconda Company in 1978.

What is your rationale for taking part in 121 Mining Investment?

Looking to meet potential new long term investors

What recent news would you like to highlight to investors attending?

February 22, 2024 – Announced 2024 detailed production & cost guidance and provided four-year growth profile. It is expected the Company will see a 45% increase in gold production for 2027 (base year 2023)
December 13, 2023 – Announced exploration update highlighting increased confidence on Ormaque located at the Lamaque Complex where it is expected the Company will declare an initial reserve late in 2024.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Continue to execute and deliver on guidance expectations

6 Months:
By year end – expect to declare initial reserve at Ormaque.

12 Months:
In Q3 2025 – announce first production at Skouries

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Deliver Skouries on time – key risk is productivities of the workforce

What do you think makes your company such a compelling investment?

Pipeline of strategic growth projects. 

What are the top 3 key investor takeaways?

Pipeline of strategic growth projects, solid financial position, focus on ESG

What do you think makes your company such a compelling investment?