Eldorado Gold Announces Amended Normal Course Issuer Bid

Core Viewpoint - Eldorado Gold Corporation has announced an amendment to its normal course issuer bid (NCIB), increasing the maximum number of common shares that may be repurchased from 350,000 to 10,245,474, which is approximately 5% of the total shares outstanding as of October 31, 2024 [2][4]. Summary by Sections NCIB Details - The NCIB purchases began on November 8, 2024, and will conclude by July 31, 2025. As of April 30, 2025, the company has repurchased 224,000 shares at an average price of $22.60 per share [3]. - Daily repurchases on the TSX will not exceed 83,123 shares, which is 25% of the average daily trading volume for the six months ended October 31, 2024 [5]. Rationale for Repurchase - The company believes that the market price of its shares may not fully reflect their long-term value, making the repurchase an attractive use of available funds given the strong balance sheet and ongoing cash generation in a high gold price environment [4]. Share Management - Up to 9,895,474 shares repurchased under the NCIB will be cancelled, while up to 350,000 shares will remain outstanding and held in trust for the company's restricted share unit plan [5]. - The company has entered into an amended automatic repurchase plan with its designated broker to facilitate purchases during certain pre-determined black-out periods [6]. Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece, and is committed to enhancing shareholder returns through programs like the NCIB [8].