Eldorado Gold grows reserves by 5%

Core Viewpoint - Eldorado Gold has increased its mineral reserve base, supporting a strong production outlook for the coming years, with shares experiencing a slight increase [1][4]. Group 1: Mineral Reserves - Total reserves as of the end of September are estimated at 371.7 million tonnes grading 1.05 grams per tonne gold, equating to approximately 12.5 million ounces of contained gold, which is a 5% increase from the same time last year [1]. - The reserve increase is primarily attributed to the Lamaque complex in Quebec, which saw a 25% increase in reserves estimates, the highest since its acquisition in 2017 [2]. - Reserves at the Kisladag mine in Türkiye rose by 11% due to a higher gold price assumption and mine optimization, while reserves at Olympias in Greece increased slightly beyond depletion, driven by updated resource modeling [3]. Group 2: Production Outlook - The updated reserve estimates strengthen the company's foundation and support a robust production outlook for the next decade, with an average mine life of 13 years [5]. - The updated reserves reflect a higher gold price assumption of $1,700 per ounce compared to last year's $1,450 per ounce, reinforcing the resilience of Eldorado's portfolio [5]. Group 3: Exploration and Growth Strategy - The company has achieved a near 21% increase in inferred mineral resources due to exploration success in Canada and Greece, reinforcing its strategy to extend mine life and advance near-mine opportunities [6]. - In 2026, the company plans to continue investing in organic growth through exploration, focusing on mine life extension at existing operations and pursuing new discoveries in Canada and Türkiye [7].