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    What Eldorado Gold (TSX:ELD)'s Greek Grid Connection Means For Shareholders

    Simply Wall St·10/04/2026 09:16:40
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    • Eldorado Gold reported that the Skouries mine in northern Greece has now been energized, with a permanent connection to the national power grid supporting ongoing mining and processing work ahead of planned commercial production in the fourth quarter of 2026.
    • The move to grid power provides a long term energy source for Skouries, which is expected to support average output of 140,000 ounces of gold and 67 million pounds of copper per year over the life of the project.
    • We will now look at how Eldorado Gold's investment narrative could shift as Skouries secures long term grid power in Greece.

    Scan how Eldorado Gold's Skouries update fits within a wider set of producers by reviewing our hand picked list of 36 elite gold producer stocks poised for their next major milestone.

    Eldorado Gold Investment Narrative Recap

    Eldorado Gold appeals to investors who want exposure to a multi mine producer that is working to add a large copper gold asset in Greece. The big swing factor is whether Skouries ramps broadly in line with expectations and supports the broader effort to improve all in sustaining costs that were reported at $1,520/oz.

    The grid connection at Skouries helps de risk the power side of that ramp up, but it does not remove commissioning and filtered tailings risks. The biggest near term risk still sits in potential delays, higher capex, or slower production, all while the business manages higher labor, royalty, tax and financing costs.

    The energization of Skouries is the most relevant operational update because it directly touches the project analysts have framed as transformative for Eldorado Gold. A long term grid link is a practical box ticked on the path to commercial production that is expected in the fourth quarter of 2026.

    For catalysts, investors now watch three related threads. First, whether Skouries construction and commissioning stay broadly on schedule. Second, how AISC behaves as optimization work continues at Kışladağ, Lamaque and other operations. Third, how balance sheet risk evolves given ongoing capital outlays and prior shareholder dilution.

    Eldorado Gold's narrative projects $4.5b revenue and $1.5b earnings by 2029. This aligns with analyst assumptions of 30.0% yearly revenue growth and implies an earnings increase of about $882m from $618.1m today.

    Uncover why Eldorado Gold's fair value indicates a 32% potential upside to its current price, which could narrow quickly as sentiment shifts.

    TSX:ELD 1-Year Stock Price Chart
    TSX:ELD 1-Year Stock Price Chart

    Exploring Other Perspectives

    One alternate angle on Eldorado Gold focuses on Skouries timing. The most optimistic analysts were already assuming roughly 38.2% annual revenue growth and about $1.9b in earnings by 2029, based on faster commissioning and ramp up. You can now ask whether this grid connection nudges those upbeat timelines even further or prompts revisions in other directions.

    Explore 5 other Eldorado Gold fair value estimates, including one that suggests as much as 121% upside from the current price!

    Reach Your Own Conclusion

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so trust your own research and judgment.

    Looking for more Eldorado Gold style ideas?

    If the Skouries story has you thinking about what else might be out there, it can help to line Eldorado Gold up against other opportunities with different risk and income profiles.

    • For investors who want potential mispricing with quality fundamentals, scan a focused set of 6 high quality undervalued stocks that may offer a margin of safety on both earnings and balance sheets.
    • If income is your priority, compare Eldorado Gold with a pool of 1 dividend fortresses that combine higher yields with an emphasis on the durability of payouts.
    • For those who care most about financial resilience, broaden your watchlist with a list of solid balance sheet and fundamentals (7 results) that can help you filter for stronger capital structures before the next big move.

    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.