Eldorado Gold: Skouries power milestone puts development in focus
Eldorado Gold (TSX:ELD) just hit a key project milestone, with the Skouries mine in northern Greece now permanently connected to the national power grid after final approval from the Greek transmission authority.
The new grid link provides a long term electricity supply for Skouries and supports ongoing processing and mining work as the operation moves toward planned commercial production in the fourth quarter of 2026.
Eldorado Gold's share price has pulled back recently, with an estimated 1 month share price return of down 8.0% after a strong 90 day share price gain of about 30.2%. The 1 year total shareholder return of roughly 35.7% and very large 5 year total shareholder return suggest momentum has been building over a longer horizon, as milestones like Skouries' grid connection reshape how investors weigh its future project delivery against risk.
Spot 36 elite gold producer stocks that, like Eldorado Gold, are pushing key projects toward production and could be primed for their next major re-rating.
Eldorado Gold has already delivered a sharp 90 day move, yet the key mine that could reshape its cash profile is still pre production. Has the recent rally pulled tomorrow's upside into today's price, or not?
Most Popular Narrative: 24% Undervalued
Eldorado Gold last closed at CA$54.78, while the most followed narrative pegs fair value at about CA$71.91, which frames Skouries as a key swing factor for how much upside remains in the story.
The approaching commissioning of the Skouries copper-gold project, slated for Q1 2026 and on schedule, is expected to be transformative by materially increasing production volumes, diversifying the revenue mix, and expanding EBITDA margins due to the asset's high grades and lower costs relative to existing operations. Sustained global macroeconomic trends, particularly heightened geopolitical uncertainty and persistent inflation, are supporting record-high and resilient gold prices, which directly feed into higher top-line revenues for Eldorado and are likely to persist given central bank buying and gold's role as a safe-haven asset.
See why 47 investors see Eldorado Gold as 24% undervalued .
Result: Fair Value of CA$71.91 (UNDERVALUED)
Still, the bullish Eldorado Gold narrative depends on Skouries starting smoothly and on cost pressures easing, rather than squeezing margins for longer.
Find out about the key risks to this Eldorado Gold narrative .
Next Steps
Mixed signals around Eldorado Gold can be useful if you move quickly and pressure test both sides of the argument using the same set of facts. To see how the bullish upside compares with the concerns investors are flagging, take a closer look at the 4 key rewards and 3 important warning signs .
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ELD.TO .
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