Core Viewpoint - Eldorado Gold Corporation reported strong financial and operational results for Q2 2025, driven by higher gold production and prices, despite increased costs due to higher royalties and inflationary pressures in Turkiye and Greece [1][4][35]. Operations - Gold production for Q2 2025 was 133,769 ounces, exceeding expectations due to accelerated inventory drawdowns and higher grades at Lamaque [6][47]. - The company maintained its 2025 annual gold production guidance of 460,000 to 500,000 ounces, expecting to be around the mid-point of this range [4]. Financial - Revenue for Q2 2025 reached $451.7 million, up from $297.1 million in Q2 2024, primarily due to higher average realized gold prices and increased sales volumes [35]. - Net earnings attributable to shareholders from continuing operations were $139.0 million, or $0.68 per share, compared to $56.4 million, or $0.28 per share, in Q2 2024 [39][40]. - Total cash costs averaged $1,064 per ounce sold in Q2 2025, an increase from $940 in Q2 2024, driven by higher royalty expenses and labor costs [37][36]. - All-in sustaining costs (AISC) per ounce sold were $1,520 in Q2 2025, up from $1,331 in Q2 2024, reflecting higher total cash costs and sustaining capital expenditures [38][34]. Production and Cost Outlook - The company expects consolidated total cash costs and AISC for the full year to be at or above the high end of the guidance range of $980 to $1,080 and $1,370 to $1,470 per ounce sold, respectively [4]. - The Skouries Project is progressing, with first production of copper-gold concentrate expected in Q1 2026, and the project remains fully funded despite an increase in capital cost estimates to $1.06 billion [12][13]. Return of Capital to Shareholders - During Q2 2025, Eldorado repurchased and cancelled approximately $44.6 million of shares under its normal course issuer bid (NCIB) [10][9]. Subsequent Events - Amendments to the Turkish Mining Law effective July 24, 2025, are expected to increase royalty payments, impacting total cash costs and AISC guidance [14].