The Skouries project, part of the Kassandra Mines Complex, is located within the Halkidiki Peninsula of Northern Greece.
It is a gold-copper porphyry deposit to be mined using a combination of conventional open pit and underground mining techniques. The total life of mine is approximately 20 years.
Key Facts
* Based on current proven and probable reserves.
2021 Outlook
The Skouries asset was acquired through the acquisition of European Goldfields in 2012 when the project was in feasibility stage and construction commenced in 2013. Construction was halted, and the project was placed on care and maintenance in November 2017 while the updated Investment Agreement with the Greek government was being negotiated.
Costs for 2021 are forecast to be $25-30 million, including costs associated with maintaining the site as well as erecting the mill building, placing concrete, engineering, and permitting costs associated with dry-stack tailings. As of December 31, 2018, the project is on care and maintenance as a result of ongoing permitting delays. An Amended Investment Agreement was signed on February 5, 2021.
In December 2021, Eldorado published the results of the Skouries Feasibility Study.
Indicative Operating Data - Based on Feasibility Study Highlights
*Data based on Skouries Feasibility Study Highlights published December, 2021
For more information, please see our Skouries presentation.