Q4 2025 Eldorado Gold Corp Earnings Call Transcript
Key Points
- Eldorado Gold Corp (EGO) achieved the high end of its 2025 production guidance with 488,268 ounces of gold produced.
- The company launched a quarterly dividend, formalizing a capital return framework.
- Eldorado Gold Corp (EGO) announced the acquisition of a high-quality Canadian copper-gold development asset, enhancing portfolio diversification.
- Strong financial results were driven by a favorable gold price environment, resulting in $1.8 billion in revenue and $743 million in operating cash flow.
- The company maintained a strong balance sheet with approximately $976 million in liquidity, supporting growth initiatives and capital returns to shareholders.
- The first production from the Scurries project has been delayed to early Q3 2026, with commercial production anticipated in Q4, increasing construction capital by approximately $50 million.
- Higher production costs were reported, including increased royalties and losses on derivative instruments.
- Free cash flow was negative $55 million in Q4, or $109 million when excluding capital investment in the Scurries project.
- Production costs increased to $678 million for the full year, primarily due to higher royalties and labor cost inflation.
- The company faced challenges with the cyclone feed pump variable frequency drive capacitors at the Scurries project, causing delays.
Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold 4th quarter 2025 results conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press, then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal signal an operator by pressing, then 0. I would now like to turn the conference over to Lynette Gould, Vice President, Investor Relations, communications and external affairs. Please go ahead, Ms. Gould.
Thank you, operator, and good morning, everyone. I'd like to welcome you to our conference call to discuss our fourth quarter and year-end 2025 results, in addition to details of our 2026 guidance and overview of our three-year production outlook. Before we begin, I'd like to remind you that we will be making forward-looking statements
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