Eldorado Gold Wins Key Permit to Start Mining Ormaque Deposit at Lamaque
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Eldorado Gold ( (TSE:ELD) ) has issued an update.
Eldorado Gold has secured operating authorization from Quebec’s environment ministry for the Ormaque deposit at its Lamaque Complex, enabling the company to start mining high-grade underground ore and feed it to the nearby Sigma Mill. The new source of ore is expected to enhance production flexibility, unlock previously invested development capital, and support employment and long-term economic benefits in the Val-d’Or region.
The company is also advancing exploration around Ormaque, including new high-grade zones such as Ormaque South-East, Ormaque West, and the Garnet Zone, which could extend mine life by providing future mill feed. In parallel, Eldorado is studying a potential expansion of the Sigma Mill’s throughput toward its fully permitted capacity, aiming to leverage existing infrastructure, debottleneck operations, and support higher long-term production from multiple nearby deposits.
The most recent analyst rating on (TSE:ELD) stock is a Buy with a C$56.00 price target. To see the full list of analyst forecasts on Eldorado Gold stock, see the TSE:ELD Stock Forecast page.
Spark’s Take on ELD Stock
According to Spark, TipRanks’ AI Analyst, ELD is a Neutral.
The score is driven primarily by improved financial results (revenue/earnings rebound and solid capital base) but held back by uneven cash conversion and higher leverage/capex intensity. Technicals indicate a constructive longer-term trend but near-term consolidation, while valuation is only moderate given a 25.69 P/E. Earnings-call outlook is positive on growth (Skouries ramp) but balanced by execution delays and elevated costs.
To see Spark’s full report on ELD stock, click here.
More about Eldorado Gold
Eldorado Gold Corporation is a Canada-based gold mining company with operations and development projects in several jurisdictions, including Quebec. At its Lamaque Complex in Val-d’Or, the company produces gold from underground deposits and feeds ore to the Sigma Mill, positioning the site as a cornerstone asset within its broader portfolio.
YTD Price Performance: 2.40%
Average Trading Volume: 662,234
Technical Sentiment Signal: Buy
Current Market Cap: C$10.01B
Learn more about ELD stock on TipRanks’ Stock Analysis page.
