INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Eldorado Gold Corporation - EGO

NEW YORK, Feb. 11, 2025 /PRNewswire/ -- LLP is investigating claims on behalf of investors of Eldorado Gold Corporation ("Eldorado" or the "Company") (NYSE: EGO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Eldorado and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On February 5, 2025, Eldorado issued a press release "provid[ing] an update on the construction progress at its copper-gold Skouries Project ('Skouries' or the 'Project'), detailed 2025 production and cost guidance, and three-year production outlook."  Eldorado disclosed that "labour market tightness in Greece, particularly pronounced in construction, has continued to limit the availability of key construction personnel at Skouries, resulting in a slower ramp-up of the workforce and delayed progress in certain areas of the Project" and that "[f]irst  production at Skouries is now expected in the first quarter of 2026, followed by commercial production expected in mid-2026."  Eldorado also advised that "[t]he revised Project capital cost estimate incorporates an increase of approximately $143 million or 15.5% over prior capital cost estimates, to a total of approximately $1.06 billion" and that "the Company expects to complete additional pre-commercial production mining and has accelerated the purchase of higher capacity mobile mining equipment (originally expected to be purchased post commercial production), resulting in $154 million of accelerated operational capital prior to commercial production." 

On this news, Eldorado's stock price fell $1.78 per share, or 11.27%, to close at $14.01 per share on February 6, 2025.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP