Copper Production Begins, Yet Gold Miner Loses $530 Million in Market Cap in a Day

At the close of U.S. trading, Eldorado Gold Corp. (EGO) finished at $27.62, down 5.58% from the previous day, erasing roughly $380 million—about KRW 530 billion—in market value in a single session. Its market capitalization now stands at approximately $7.2 billion (around KRW 10.1 trillion), with trading volume of about 1.43 million shares.

On June 7, Eldorado Gold produced its first copper concentrate at the McIlvenna Bay project in Saskatchewan, Canada, formally adding copper and zinc production to its previously gold-focused portfolio. In April, the company completed its acquisition of Foran Mining, laying the groundwork for production and cash-flow growth from both McIlvenna Bay and the Skouries project in Greece after 2026.

Headquartered in Vancouver, Eldorado Gold is a mid-tier precious and base metals producer operating gold mines in Turkey, Canada, and Greece. Its major development assets include the Skouries gold-copper mine in Greece and the McIlvenna Bay copper project in Canada.