Q1 2026 Eldorado Gold Corp Earnings Call Transcript
Key Points
- Eldorado Gold Corp (EGO) reported a 50% increase in total revenue to $532 million, driven by significantly higher gold prices.
- The company is advancing two high-quality growth projects, Skouries in Greece and McIlvenna Bay in Saskatchewan, which are expected to enhance production and cash flow.
- Eldorado Gold Corp (EGO) maintained a strong balance sheet with cash and cash equivalents of approximately $630 million, providing financial flexibility for growth initiatives.
- The company initiated a sustainable base dividend policy and repurchased over $80 million worth of shares in Q1, reflecting confidence in its intrinsic value.
- Eldorado Gold Corp (EGO) received the TSM Gold Leadership Award for achieving the highest possible rating across all applicable TSM performance indicators, highlighting its commitment to responsible mining.
- Gold production decreased by 13% year over year, primarily due to lower tonnes and grades at certain mines.
- Production costs increased to $188 million, driven by higher royalty expenses and labor inflation, impacting overall profitability.
- All-in sustaining costs (AISC) rose to $1,942 per ounce sold, reflecting higher royalty expenses and lower production volumes.
- The capital expenditure for the Skouries project increased by $155 million, primarily due to additional workforce requirements for electrical and instrumentation completion.
- Operational challenges at Kisladag resulted in higher all-in sustaining costs of $2,060 per ounce sold, reflecting lower volumes and a higher cost base.
Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold first-quarter 2026 results conference call. (Operator Instructions) And the conference is being recorded. (Operator Instructions)
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 first quarter 2026 results. Before we begin, I would like to remind you that we will be making forward-looking statements and referring to non-IFRS measures during the call. Please refer to the cautionary statements included in the presentation and the disclosure on non-IFRS measures and risk factors in our management's discussion and analysis.
Joining me on the call today, we have George Burns, Chief Executive Officer; Christian Milau, President; Paul Ferneyhough,
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