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EGO's Skouries Project Gets EU Strategic Project Designation
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Key Takeaways
EGO's Skouries in northern Greece receives Strategic Project designation from the European Commission.
The move supports EU efforts to boost domestic critical raw materials supply and reduce external dependence.
Skouries targets 240,000 gold-equivalent ounces annually over its 20-year mine life.
Eldorado Gold Corporation (EGO - Free Report) announced that its Skouries copper-gold asset in northern Greece received a Strategic Project designation from the European Commission under the EU’s Critical Raw Materials Act. This underscores the Skouries project’s strategic significance in strengthening Europe’s long-term supply-chain resilience. The designation also highlights the project’s importance in supporting the EU’s efforts to strengthen domestic supply chains for critical raw materials.
The EU adopted the European Union’s Critical Raw Materials Act to solidify the region’s access to critical raw materials and lower dependence on external sources of supply. The Act selects Strategic Projects post assessing their potential contribution to European supply security, technical feasibility and sustainability standards.
Details on Eldorado Gold’s Skouries Mine
Skouries is located in the Halkidiki region of northern Greece and is expected to become a significant producer of both copper and gold over its 20-year mine life. The mine is expected to produce an average 240,000 gold-equivalent ounces annually over the life of the mine.
In late September, the company announced that the mine has been successfully energized following necessary approvals. This was essential in advancing Skouries toward ramp-up to steady-state operations. This, along with the recent achievement of first copper-gold concentrate production, reflects strong execution at the mine as the company continues to advance it toward commercial production.
EGO’s Q2 Performance
Eldorado Gold reported adjusted earnings of 54 cents per share for the second quarter of 2026, up from earnings of 44 cents a year ago. The figure beat the Zacks Consensus Estimate of 52 cents by 3.85%. The company reported revenues of $488 million compared with $452 million in the year- ago quarter. It produced 104,616 ounces of gold during the second quarter of 2026.
The company belongs to the Zacks Mining – Gold industry, along with Royal Gold, Inc. (RGLD - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and B2Gold Corp. (BTG - Free Report) . Let us see how BTG’s peers performed in the second quarter of 2026.
Royal Gold reported adjusted earnings of $2.56 per share for the second quarter of 2026, up 41.4% from $1.81 a year ago. The figure missed the Zacks Consensus Estimate of $2.62 by 2.29%. Royal Gold’s revenues surged 114.9% year over year to $450.5 million, aided by higher metal prices, new contributions from Kansanshi and the Sandstorm/Horizon assets, and stronger gold sales at Andacollo and Rainy River. Sales volume rose 56.5% to 100,000 gold-equivalent ounces.
Franco-Nevada reported adjusted earnings of $1.81 per share in the second quarter of 2026, up 46% year over year. However, the bottom line missed the Zacks Consensus Estimate of $1.95. Franco-Nevada’s revenues climbed 57.3% year over year to $581 million, aided by stronger precious metal and oil prices, and higher contributions from several assets. Gold-equivalent ounces sold increased 18.1% to 132,405.
B2Gold reported adjusted earnings of 3 cents per share for the second quarter of 2026, missing the Zacks Consensus Estimate of 7 cents by 57.14%. The bottom line fell 75% from 12 cents in the year-ago quarter. Adjusted earnings included $71 million of realized losses on the company’s gold collars. B2Gold generated revenues of $789 million in the second quarter of 2026, reflecting a year-over-year increase of 14%. The upside was supported by higher realized gold prices, with the average realized gold price rising to $3,767 per ounce from $3,290 in the prior-year quarter, partly offset by a slight decline in gold ounces sold to 209,537 from 210,384.
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EGO's Skouries Project Gets EU Strategic Project Designation
Key Takeaways
Eldorado Gold Corporation (EGO - Free Report) announced that its Skouries copper-gold asset in northern Greece received a Strategic Project designation from the European Commission under the EU’s Critical Raw Materials Act. This underscores the Skouries project’s strategic significance in strengthening Europe’s long-term supply-chain resilience. The designation also highlights the project’s importance in supporting the EU’s efforts to strengthen domestic supply chains for critical raw materials.
The EU adopted the European Union’s Critical Raw Materials Act to solidify the region’s access to critical raw materials and lower dependence on external sources of supply. The Act selects Strategic Projects post assessing their potential contribution to European supply security, technical feasibility and sustainability standards.
Details on Eldorado Gold’s Skouries Mine
Skouries is located in the Halkidiki region of northern Greece and is expected to become a significant producer of both copper and gold over its 20-year mine life. The mine is expected to produce an average 240,000 gold-equivalent ounces annually over the life of the mine.
In late September, the company announced that the mine has been successfully energized following necessary approvals. This was essential in advancing Skouries toward ramp-up to steady-state operations. This, along with the recent achievement of first copper-gold concentrate production, reflects strong execution at the mine as the company continues to advance it toward commercial production.
EGO’s Q2 Performance
Eldorado Gold reported adjusted earnings of 54 cents per share for the second quarter of 2026, up from earnings of 44 cents a year ago. The figure beat the Zacks Consensus Estimate of 52 cents by 3.85%. The company reported revenues of $488 million compared with $452 million in the year- ago quarter. It produced 104,616 ounces of gold during the second quarter of 2026.
The company belongs to the Zacks Mining – Gold industry, along with Royal Gold, Inc. (RGLD - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and B2Gold Corp. (BTG - Free Report) . Let us see how BTG’s peers performed in the second quarter of 2026.
Royal Gold reported adjusted earnings of $2.56 per share for the second quarter of 2026, up 41.4% from $1.81 a year ago. The figure missed the Zacks Consensus Estimate of $2.62 by 2.29%. Royal Gold’s revenues surged 114.9% year over year to $450.5 million, aided by higher metal prices, new contributions from Kansanshi and the Sandstorm/Horizon assets, and stronger gold sales at Andacollo and Rainy River. Sales volume rose 56.5% to 100,000 gold-equivalent ounces.
Franco-Nevada reported adjusted earnings of $1.81 per share in the second quarter of 2026, up 46% year over year. However, the bottom line missed the Zacks Consensus Estimate of $1.95. Franco-Nevada’s revenues climbed 57.3% year over year to $581 million, aided by stronger precious metal and oil prices, and higher contributions from several assets. Gold-equivalent ounces sold increased 18.1% to 132,405.
B2Gold reported adjusted earnings of 3 cents per share for the second quarter of 2026, missing the Zacks Consensus Estimate of 7 cents by 57.14%. The bottom line fell 75% from 12 cents in the year-ago quarter. Adjusted earnings included $71 million of realized losses on the company’s gold collars. B2Gold generated revenues of $789 million in the second quarter of 2026, reflecting a year-over-year increase of 14%. The upside was supported by higher realized gold prices, with the average realized gold price rising to $3,767 per ounce from $3,290 in the prior-year quarter, partly offset by a slight decline in gold ounces sold to 209,537 from 210,384.