Eldorado Gold Slashes 2026 Output Guidance as Skouries Ramp-Up Stumbles - the deep dive

AI desk brief

Eldorado Gold cut its 2026 gold production guidance by about 18% at the midpoint, as slower-than-expected ramp-up at Skouries and weaker output from existing mines overshadowed a stronger Q3 revenue print. The company now sees 425,000-475,000 oz for 2026 versus 495,000-600,000 oz previously, while Skouries guidance was slashed to 10,000-35,000 oz from 60,000-100,000 oz; AISC on the existing operations was also raised to US$1,975-US$2,125/oz from US$1,670-US$1,870/oz.

Q3 revenue rose to US$511.9 million and gold production edged up to 106,351 oz, but free cash flow remained negative at US$191.1 million and debt increased to US$1.99 billion. Cash costs were US$1,415/oz sold and AISC US$2,050/oz, versus a realized gold price of US$4,326/oz, keeping margins wide despite the operational setback.