EGO News & Events

Eldorado Gold (EGO) advises that effective December 17, it has acquired ownership of 14,868,200 common shares of Amex Exploration (AMXEF) at a price per Share of C$4.00, for total consideration of C$59,472,800, pursuant to a private agreement with a third party. Prior to the Share Acquisition, Eldorado beneficially owned and controlled 23,758,130 common shares of the Company and 207,000 common share purchase warrants, each warrant entitling the holder to acquire one Share, representing approximately 16.77% of the outstanding common shares on a non-diluted basis and approximately 16.89% on a partially diluted basis assuming full exercise of the Warrants. Following the Share Acquisition, Eldorado beneficially owns and controls 38,626,330 Shares and 207,000 Warrants representing approximately 27.27% of the outstanding common shares on a non-diluted basis and approximately 27.37% on a partially diluted basis assuming full exercise of the Warrants.

BofA raised the firm's price target on Eldorado Gold to $29 from $28 and keeps an Underperform rating on the shares after updating estimates, noting that the firm's commodities team is calling for the gold price to reach $5,000 per ounce in 2026.

Eldorado Gold releases its updated Mineral Reserve and Mineral Resource, MRMR, estimates as of September 30, 2025. "Our commitment to exploration continues to unlock long-term value, driving another increase in Mineral Reserves," said George Burns, Chief Executive Officer. "We successfully offset depletion at key operations, including the Lamaque Complex, Kisladag and Olympias. Overall, Mineral Reserves increased by approximately 5%, primarily driven by a 25% increase at the Lamaque Complex. This strengthens our foundation and supports a robust production outlook for the next decade, underpinned by an average mine life of 13 years. Importantly, this update reflects a higher but conservative gold price assumption of $1,700 per ounce compared to last year's gold price assumption of $1,450 per ounce, reinforcing the resilience of our portfolio.