Gold and Base Metals Mining
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Eldorado Gold Announces Leading, Independent Proxy Advisory Firm, ISS, Recommends Eldorado Shareholders Vote “FOR” the Proposed Arrangement with Foran Mining; Shareholders Reminded to Vote
Globenewswire· 2026-03-25 19:13
Core Viewpoint - Eldorado Gold Corporation has received a recommendation from Institutional Shareholder Services (ISS) to approve the issuance of shares in connection with the proposed acquisition of Foran Mining Corporation, which is expected to enhance Eldorado's long-term growth profile [1][4]. Group 1: Transaction Details - The special meeting for Eldorado shareholders to vote on the Eldorado Share Issuance Resolution is scheduled for April 7, 2026 [2]. - Under the proposed arrangement, Eldorado will acquire all issued and outstanding common shares of Foran, with each Foran shareholder receiving 0.1128 of an Eldorado share and CAD$0.01 in cash for each Foran share held [3]. - Upon completion of the arrangement, Foran will become a wholly-owned subsidiary of Eldorado [3][7]. Group 2: Recommendations - ISS has recommended that shareholders vote in favor of the Eldorado Share Issuance Resolution, highlighting the merits of the transaction [4]. - Eldorado's Board of Directors unanimously supports the resolution and encourages shareholders to vote early [5][7]. Group 3: Strategic Rationale - The transaction aligns with Eldorado's strategic goals and is expected to strengthen its growth profile through a disciplined and value-focused combination with Foran [7]. - Independent fairness opinions were obtained to support the transaction [7]. Group 4: Voting Information - Shareholders are urged to vote well in advance of the proxy voting deadline on April 2, 2026 [6]. - Assistance for voting can be obtained from Laurel Hill Advisory Group, with contact details provided for both North American and international shareholders [6][8]. Group 5: Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Canada, Greece, and Türkiye, and is listed on the Toronto Stock Exchange and the New York Stock Exchange [9].
Eldorado Announces Mailing of Joint Management Information Circular; Provides Leadership Transition and Board Succession Update
Globenewswire· 2026-03-11 21:21
Core Viewpoint - Eldorado Gold Corporation is advancing its combination with Foran Mining Corporation, with a joint management information circular mailed to shareholders, outlining the benefits and details of the transaction [1][2]. Transaction Details - The Circular includes comprehensive information about the transaction, including the background and matters for shareholder voting [2]. - Eldorado's board unanimously recommends that shareholders vote in favor of the Eldorado Share Issuance Resolution [2]. Benefits of the Transaction - Following the transaction, Eldorado is projected to generate approximately $2.1 billion in EBITDA and $1.5 billion in free cash flow in 2027, which will support growth initiatives and shareholder returns [6]. - The asset portfolio will provide balanced exposure to gold (77%), silver (4%), copper (15%), and other metals (4%), enhancing jurisdictional and commodity diversification [6]. - The transaction is expected to create significant exploration opportunities, particularly in advancing Foran's high-grade polymetallic Tesla Zone and maximizing exploration potential around existing assets [6]. - The increased scale and trading liquidity from the transaction are anticipated to support a positive valuation re-rate opportunity [6]. - Eldorado and Foran's alignment on sustainability principles will enhance the focus on responsible mining and greenhouse gas emission mitigation [6]. Leadership Transition - George Burns, the current CEO, will retire in Q3 2026, with Christian Milau set to assume the CEO role, while Burns will remain on the Board [5][8]. - The Board's succession planning includes Steven Reid's intention to retire in 2027 after 13 years of service [8]. - Dan Myerson from Foran will be appointed as Deputy Chair of the Board following the transaction's completion [9].
Eldorado Announces Strong Exploration Results of Multiple New High-Grade Zones in Canada and Greece and Increases 2026 Exploration Investment, Reinforcing Confidence in Discovery Strategy
Globenewswire· 2026-01-26 22:00
Core Insights - Eldorado Gold Corporation has announced the discovery of four new high-grade zones at the Lamaque Complex and the initiation of studies for potential expansion [1][3] - The company has identified a new high-grade gold and silver zone, the NW Zone, and high-grade extensions of the West Flats Zone at Olympias, along with a gold-copper skarn system along the Stratoni Fault [1][3] Exploration Highlights - At the Lamaque Complex in Quebec, high-grade mineralization has been confirmed across multiple deposits, with significant intercepts including: - Ormaque South-East: 13.5 m at 13.59 g/t Au and 4.1 m at 15.65 g/t Au [3] - Ormaque West extension: 1.0 m at 338.66 g/t Au and 1.2 m at 81.98 g/t Au [3] - Garnet Zone: 5.0 m at 7.31 g/t Au and 1.7 m at 10.05 g/t Au [3] - Historic Lamaque Mine extensions: 4.2 m at 8.02 g/t Au and 1.7 m at 34.77 g/t Au [3] Greece Exploration - The Olympias NW Zone has been identified within 200 meters of mine infrastructure, with notable drill results including: - 7.55 m at 18.93 g/t Au, 123.15 g/t Ag, 3.17% Pb, and 0.43% Zn [3] - 23.4 m at 22.30 g/t Au, 331.19 g/t Ag, 11.74% Pb, and 9.70% Zn in the West Flats area [3] - The Stratoni Skarn has shown promising results with intercepts such as 42.75 m at 0.83 g/t Au and 0.49% Cu [3][40] Future Plans - The company plans to increase its exploration budget for 2026 to between $75 million and $85 million, focusing on resource conversion and expansion drilling [7][52] - Approximately 80,000 to 90,000 meters of drilling is planned across the Lamaque-Bourlamaque property, targeting extensions of existing resources and new opportunities [26][27] Strategic Partnerships - Eldorado is pursuing early-stage exploration opportunities through partnerships with junior exploration companies and local entities, enhancing its exploration footprint [49][50] Investment in Exploration - Total exploration spending increased to approximately $51 million in 2025, with a projected increase to $75 million to $85 million in 2026, reflecting the company's commitment to organic discovery and resource expansion [51][52]
Eldorado Gold – Transformational Growth in Greece in 2026
Globenewswire· 2026-01-20 22:01
Core Viewpoint - Eldorado Gold Corporation is advancing its growth projects in Greece, particularly Skouries, Olympias Expansion, and Perama Hill, which are expected to significantly enhance production, margins, and cash flow starting in 2026 [1][6]. Skouries Project - The Skouries Project is on track for first concentrate production by the end of Q1 2026, with commercial production anticipated by mid-2026 [5][8]. - As of December 31, 2025, overall project progress is reported at 90% for phase 1 and 78% for phase 2, with significant advancements in underground development and open pit mining [13][32]. - The project is expected to yield an average annual production of 140,000 ounces of gold and 67 million pounds of copper over a 20-year mine life [7]. Olympias Expansion - The Olympias Expansion is progressing towards increasing processing capacity from 500,000 tonnes per annum to 650,000 tonnes per annum, with completion expected in Q3 2026 and ramp-up in Q4 2026 [4][40]. - Improved concentrate off-take terms starting in 2026 are anticipated to enhance cash flow significantly, with higher payability and lower treatment charges compared to 2025 [42]. Perama Hill - Perama Hill is projected to produce approximately 100,000 ounces of gold annually over an initial eight-year mine life, with the Environmental Impact Assessment submitted in December 2025 [43][44]. - Community engagement processes are set to begin, ensuring stakeholder participation and transparency [44]. Financial and Operational Highlights - The capital cost estimate for the Skouries Project is revised to $1.06 billion, fully funded with a total of approximately $137 million spent in Q4 2025 and $475 million for the entire year [10][11]. - Accelerated operational capital costs are expected to increase by approximately $24 million to support pre-commercial mining activities [11][12]. - As of December 30, 2025, there are approximately 1.2 million tonnes of ore stockpiled, containing about 47.3 thousand ounces of gold and 12.5 million pounds of copper [32][47].
Eldorado Gold Provides Q3 2025 Conference Call Details
Globenewswire· 2025-10-07 11:00
Core Viewpoint - Eldorado Gold Corporation will release its Q3 2025 financial and operational results on October 30, 2025, followed by a conference call on October 31, 2025, at 11:30 AM ET [1][2]. Group 1: Conference Call Details - The conference call will be accessible via Eldorado Gold's website and a specific webcast link [2]. - Participants can pre-register for the conference call to receive a calendar invitation and unique PIN for direct access [3]. - The call will be available for replay until December 12, 2025 [3]. Group 2: Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece [4]. - The company emphasizes a skilled workforce, safe operations, high-quality asset portfolio, and long-term community partnerships [4].
Aura Announces a Change in the Company's BDRs
Globenewswire· 2025-08-29 23:29
Core Points - Aura Minerals Inc. has received approval from the Brazilian Securities Commission to change the reference stock exchange for its Brazilian Depositary Receipts from the Toronto Stock Exchange to the Nasdaq Global Select Market, effective September 5, 2025 [1][2] - The company's common shares will continue to be listed on Nasdaq under the symbol "AUGO" and on TSX under the symbol "ORA", while the BDRs will remain listed on B3 S.A. under the symbol "AURA33" [2] Company Overview - Aura Minerals is focused on the development and operation of gold and base metals projects across the Americas, operating five mines including the Minosa gold mine in Honduras and several gold mines in Brazil [4] - The company also has various projects in different stages, including Era Dorada in Guatemala, Tolda Fria in Colombia, and multiple projects in Brazil such as Matupá, São Francisco, and the Carajás copper project [4] - Aura adopts a holistic approach to mining, termed "360º Mining," which considers the impact and benefits of its operations on all stakeholders, including shareholders, employees, and local communities [3]
Strickland Metals Limited (STK) Earnings Call Presentation
2025-08-26 04:00
Project Overview - Strickland Metals' Rogozna project in Serbia holds an Inferred Resource of 7.4 million ounces of gold equivalent (AuEq)[12, 59] - The company has a clear focus on further discoveries and resource growth within a strong gold price environment[60] Capital Structure and Funding - The company's market capitalization is A$317 million[10] - The company has A$32.7 million in cash and Northern Star shares to fund its growth program[10, 60] - Top 20 shareholders hold 53% of the company[10] - Board and Management hold 4.6% of the company[10] Exploration and Drilling Program - The company plans to drill 50,000 meters, with approximately 24,000 meters completed to date[20, 49] - Drilling is focused on extending and infilling the Gradina deposit, growing the Shanac deposit, and scoping the potential of the Kotlovi discovery[20] - The company is also testing the porphyry copper-gold potential at Jezerska Reka and Obradov Potok[20] Resource Estimates and Discoveries - The Shanac deposit has an Inferred Resource of 5.3 million ounces of AuEq[21, 26, 65] - The Medenovac deposit has a maiden Inferred Resource of 1.28 million ounces of AuEq[48, 65] - The Kotlovi prospect is an emerging discovery with significant scale potential[36, 40] Sustainability - Zlatna Reka Resources, Strickland Metals' Serbian subsidiary, has increased permanent employees by over 100% in 12 months[52] - 60% of the workforce is from local communities, and 31% are female, representing a >50% increase in female employees over 12 months[56]
Eldorado Gold Announces Renewal of Normal Course Issuer Bid
Globenewswire· 2025-07-31 21:09
Core Viewpoint - Eldorado Gold Corporation has received approval to renew its normal course issuer bid (NCIB) to repurchase up to 10,159,967 common shares, representing 5% of its outstanding shares, as a strategy to enhance shareholder returns and reflect the long-term value of its shares [1][2][6]. Summary by Sections NCIB Details - The NCIB will allow Eldorado to purchase up to 10,159,967 common shares, commencing on August 6, 2025, and ending on July 31, 2026 [2]. - Daily purchases on the TSX will be limited to 101,895 common shares, based on the average daily trading volume [4]. - The previous NCIB, which ran from November 8, 2024, to July 31, 2025, resulted in the purchase of 3,198,353 common shares at an average price of C$27.68 [3]. Share Repurchase Plan - Up to 9,679,967 common shares repurchased will be cancelled, while 480,000 shares will be held in trust for the restricted share unit plan [5]. - An automatic repurchase plan has been established to facilitate share purchases during regulatory black-out periods [7]. Rationale for NCIB - The renewal of the NCIB is based on the belief that the market price of the common shares may not fully reflect their long-term value, making the repurchase an attractive use of available funds [6]. - The company emphasizes its strong balance sheet and ongoing cash generation in a favorable gold price environment as reasons for the NCIB [6]. Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece, and is committed to responsible operations and enhancing shareholder value [9].
Eldorado Gold Provides Q2 2025 Conference Call Details
Globenewswire· 2025-07-14 21:00
Core Viewpoint - Eldorado Gold Corporation will release its Second Quarter 2025 Financial and Operational Results on July 31, 2025, and will host a conference call on August 1, 2025, to discuss these results [1][2]. Group 1: Financial and Operational Results - The financial and operational results for Q2 2025 will be announced after market close on July 31, 2025 [1]. - A conference call to discuss these results is scheduled for August 1, 2025, at 11:30 AM ET (8:30 AM PT) [1][2]. Group 2: Conference Call Details - The conference call will be accessible via Eldorado Gold's website and a specific webcast link [2]. - Participants can pre-register for the conference call to receive a calendar invitation and unique PIN for direct access [4]. - Dial-in details include a toll number, toll-free number, and access code for participants [3]. Group 3: Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece [5]. - The company emphasizes a skilled workforce, safe operations, high-quality assets, and long-term community partnerships [5]. - Eldorado's shares are traded on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO) [5].
Eldorado Gold Announces Election of Directors and Results from the 2025 Annual and Special Meeting of Shareholders
Globenewswire· 2025-06-04 11:00
Core Points - Eldorado Gold Corporation announced the election of all director nominees at the Annual and Special Meeting of Shareholders held on June 3, 2025 [1][4] - The company is optimistic about its future, particularly with the Skouries copper-gold project nearing first production and ongoing optimization efforts at existing operations [2][6] - The board welcomed Hussein Barma, who has over 25 years of experience in the mining sector, as part of its ongoing renewal efforts [3] Election of Directors - All nominated directors were elected with significant support, including: - Hussein Barma: 143,639,385 votes for (99.80%) - Carissa Browning: 142,929,228 votes for (99.31%) - George Burns: 143,689,977 votes for (99.84%) - Teresa Conway: 142,887,461 votes for (99.28%) - Judith Mosely: 143,622,193 votes for (99.79%) - Steven Reid: 143,084,929 votes for (99.42%) - Stephen Walker: 143,612,321 votes for (99.78%) - John Webster: 142,344,662 votes for (98.90%) [3][5] Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece, focusing on safe and responsible mining practices [6][7] - The company emphasizes its skilled workforce, high-quality asset portfolio, and long-term community partnerships [6]