Eldorado Gold Corporation announced that its latest Mineral Reserve and Mineral Resource (MRMR) statement, effective September 30, 2025, shows a 5 % increase in proven and probable gold reserves to 12.5 million ounces. The jump follows a 25 % rise at the company’s flagship Lamaque Complex and a 21 % increase in inferred resources, largely from new additions at Perama Hill in Greece and Bonnefond near Lamaque.
The 12.5 million‑ounce figure represents the largest reserve estimate since the company’s 2017 acquisition, up from 11.9 million ounces reported in the September 30, 2024 statement. The reserve expansion offsets depletion at key assets—Lamaque, Kisladag, and Olympias—ensuring that the company’s mine life at Lamaque extends to an estimated 13 years, a significant improvement over the prior estimate of 11 years.
The reserve update strengthens Eldorado’s asset base and underpins its long‑term production outlook. A larger reserve base provides a buffer against commodity price swings and supports the company’s capital allocation strategy, allowing it to invest in exploration and development while maintaining a robust production schedule. The update also complements the upcoming commercial production of the Skouries copper‑gold project, scheduled for 2026, by providing a stable gold‑producing platform that can absorb the capital intensity of the new project.
Chief Executive Officer George Burns said the reserve expansion “drives another increase in Mineral Reserves” and “strengthens our foundation and supports a robust production outlook for the next decade.” He added that the higher, conservative gold price assumption of $1,700 per ounce—up from $1,450 the previous year—demonstrates the resilience of Eldorado’s portfolio and reinforces confidence in its long‑term profitability.
Market reaction to the update was positive, with the company’s shares trading near their 52‑week high. Analysts highlighted the 5 % reserve growth and the 13‑year mine life extension as key drivers of investor optimism, noting that the reserve expansion provides a solid foundation for future earnings and supports the company’s strategic shift toward copper‑gold production.
Overall, the reserve update signals that Eldorado Gold is executing its exploration and development strategy effectively, delivering tangible increases in its gold‑producing capacity while positioning itself for the next phase of growth with the Skouries project.
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