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Gold Miners Show New Discipline as Prices Rise, Says Eldorado’s President
Description
Christian Milau, President of Eldorado Gold (TSX: ELD; NYSE: EGO), joins Kitco Mining’s Paul Harris at the Future Minerals Forum 2026 to discuss leadership transition, capital discipline, and a major shift in the company’s cash generation profile.
Milau says that despite strong gold prices, gold equities have not yet attracted the level of generalist interest he would have expected. He argues this cycle differs from past gold booms, with producers operating more conservatively and prioritizing balance sheet strength and shareholder returns over aggressive expansion. At Eldorado, that discipline is reflected in share buybacks already underway and the consideration of dividends even as the company completes a large, capital-intensive development.
He highlights Eldorado’s focused portfolio in Greece, Turkey, and Canada, with Skouries in northern Greece nearing first concentrate and expected to materially lift cash flow as it moves toward commercial production. Milau describes the company as “turning to a cashflow inflection point, probably mid next year, where the cash will start coming in,” creating flexibility to reduce debt, increase shareholder returns, expand exploration, and advance projects internally. While open to selective opportunities, he says large-scale M&A is not required, with organic execution and disciplined capital allocation guiding the strategy.
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00:27 – Leadership Changes in the Gold Mining Sector
02:02 – Gold Prices, Equity Performance, and Investor Interest
03:03 – Capital Discipline, Buybacks, and Dividends in Gold Mining
07:57 – Eldorado Gold’s Portfolio Focus and Growth Strategy
12:47 – M&A Outlook and Industry Consolidation
14:50 – Middle Eastern Capital and Changing Mining Investment Dynamics
16:16 – Key Catalysts Ahead for Eldorado Gold
17:02 – Closing Remarks from Future Minerals Forum 2026
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