Eldorado Gold’s Skouries Mine Designated as a Strategic Project Under the EU Critical Raw Materials Act

Eldorado Gold Corporation's Skouries copper-gold mine in Greece was designated a Strategic Project under the EU's Critical Raw Materials Act. The designation highlights its role in securing critical raw materials for Europe's energy transition and supply chains. Skouries, which began operations recently, is expected to produce copper and gold for 20 years, supporting jobs and economic activity in the region.

Eldorado Gold Corp (EGO) announced its Skouries mine in Greece was designated under the EU's Critical Raw Materials Act, highlighting its strategic importance. The company's P/S ratio is 4.06x, above its historical median, reflecting growth expectations. EGO has a GF Score of 82/100, indicating strong financial health and growth potential despite some financial stress.

Eldorado Gold's Skouries mine in Greece was designated a Strategic Project by the EU under the Critical Raw Materials Act. The mine, with a $2B investment, will produce copper and gold for 20 years, supporting jobs and regional economy. The EU act aims to secure critical raw material supplies. Eldorado Gold operates in Canada, Greece, and Turkey.

BofA upgraded Eldorado Gold (EGO) to Buy with a $54 price target, citing confidence in the Skouries project and Olympias mine. The stock trades at $28.57, with Skouries seen as a key growth driver. Eldorado reported Q2 2026 revenue of $487M, up 7.7% YoY, and net earnings of $173M. Jefferies also initiated coverage with a Buy rating and $50 target.

Federal Reserve Chair Kevin Warsh's hawkish remarks on inflation caused a sharp decline in precious metals mining stocks. First Majestic Silver (AG) led the drop, falling 5.09%, while other miners like AngloGold Ashanti (AU) and Barrick Mining (B) also saw significant decreases. Warsh's comments pushed up interest-rate expectations, increasing the opportunity cost of holding non-yielding assets like gold and silver.

Gold prices fell 1% to $4,649.10/oz after a hotter-than-expected US inflation report, retreating from a three-month high. Spot gold is still up 14% in August. Silver also declined. The Fed's preferred inflation gauge, PCE, rose 3.7% YoY in July, above forecasts. Investors await Fed Chair Warsh's speech at Jackson Hole for further rate guidance. Gold's recent rally was driven by US Treasury bond market intervention and ETF inflows. Miners like Agnico Eagle and AngloGold have seen significant gain