Pomerantz Law Firm Investigates Eldorado Gold Corporation for Possible Securities Fraud

On March 11, 2025, Pomerantz LLP announced it is conducting an investigation concerning potential claims against Eldorado Gold Corporation (NYSE: EGO). Investors of Eldorado Gold, a company engaged in gold mining, are encouraged to get in touch with the firm, specifically through Danielle Peyton, who can be reached via email at [email protected] or by phone at 646-581-9980, ext. 7980.

Background of the Investigation

This investigation centers around allegations that Eldorado Gold or certain officers and directors may have been involved in securities fraud or other unacceptable business practices that could adversely affect shareholders. The inquiry was prompted by a recent announcement made by Eldorado regarding its Skouries Project in Greece.

On February 5, 2025, Eldorado released a statement about the construction progress at its copper-gold Skouries Project. During this announcement, the company highlighted several challenges currently facing its operations. Specifically, they reported that labor shortages in Greece, more pronounced within the construction sector, are limiting the availability of essential personnel at the Skouries site. Consequently, this has led to a slower workforce ramp-up and delayed developmental progress in various aspects of the project.

Latest Developments on the Skouries Project

According to the update provided by Eldorado, initial production at Skouries is now anticipated to occur in the first quarter of 2026, with commercial production expected to follow around mid-2026. Additionally, Eldorado informed stakeholders that the revised estimate of capital costs has risen to approximately $1.06 billion—a notable increase of around $143 million or 15.5% over previous estimates. The company has also decided to escalate the purchase of advanced mobile mining equipment, originally scheduled for post-commercial production, resulting in an additional operational capital expenditure of $154 million prior to commercial production.

These revelations have led to a significant drop in Eldorado's stock price, which fell by $1.78 per share, a decline of approximately 11.27%, closing at $14.01 per share on February 6, 2025. Such a steep drop in value is likely alarming for current and potential investors and could indicate broader issues within the company's management and operational strategies.

About Pomerantz LLP

Pomerantz LLP has a longstanding reputation as a premier law firm specializing in corporate, securities, and antitrust class actions. Established over 85 years ago by Abraham L. Pomerantz, known as the foremost authority in the field of class actions, the firm continues to protect the rights of investors from securities fraud, breaches of fiduciary duty, and corporate malfeasance. Throughout its history, Pomerantz has secured numerous multimillion-dollar settlements for victims of financial misdeeds.

The firm operates multiple offices across key financial centers, including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, which allows it to serve a diverse clientele. Pomerantz remains committed to its mission of fighting for justice for its clients.

For those who believe they may have been impacted by the alleged misconduct at Eldorado Gold Corporation, joining the class action could be a crucial step. Interested parties are encouraged to reach out to Pomerantz LLP for more information regarding their rights and options available.

Conclusion

The ongoing investigation by Pomerantz LLP adds another layer of scrutiny to Eldorado Gold Corporation as investors await clarity on the implications of the recent announcements related to production delays and rising costs. Those affected by these developments should consider their options carefully and stay informed about the progress of this investigation. As this situation unfolds, further developments may have substantial impacts not only on Eldorado Gold but on the broader mining sector and investor confidence.