Eldorado Gold Q3 2026: Skouries Costs Hit $2,050/oz, Guidance Cut
As seen on the 24/7 Wall St. homepage on October 28, 2026.
Record gold prices did not offset the Skouries ramp-up: all-in sustaining costs climbed to $2,050 an ounce from $1,679 a year ago, with earnings and revenue missing expectations. Management cut 2026 gold production guidance, and commercial production at Skouries and McIlvenna Bay is now pushed to late in the fourth quarter.
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Eldorado Gold's third quarter of 2026 missed expectations on both earnings and revenue even with the average realized gold price climbing to $4,326 per ounce, showing how much the Skouries and McIlvenna Bay ramp-ups are costing shareholders now.
All-in sustaining costs jumped to $2,050 per ounce from $1,679 a year earlier as pre-commercial costs and slow commissioning at both new mines ran through the entire quarter.
Incoming CEO Christian Milau said the Skouries ramp-up has taken longer and cost more than expected, and the company cut its full-year 2026 gold production guidance to 425,000 to 475,000 ounces from 495,000 to 600,000 ounces.
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Commercial production at both Skouries and McIlvenna Bay is now targeted for late in the fourth quarter of 2026, with cash on hand down to $396.8 million.
Eldorado has missed consensus in four of its last five quarters, so whether the Skouries and McIlvenna Bay ramp-ups stabilize in Q4 is the central question for the stock.
Mentioned: EGO