Foran Mining to Be Acquired by Eldorado Gold in CAD 3.8B All-Share Deal, Closing Q2 2026

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MarketBeat

Tue, February 3, 2026 astatine 3:13 AM CST 6 min read

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Eldorado Gold volition get Foran successful an all‑share woody wherever Foran shareholders person 0.1128 Eldorado shares per Foran stock (implying an equity worth of ~CAD 3.8 billion); post‑transaction ownership is expected to beryllium ~76% Eldorado / 24% Foran, with closing targeted for Q2 2026 and a shareholder gathering astir April 14, 2026.
The combined institution volition bring 2 afloat financed projects into accumulation successful 2026: Skouries (Greece) targeting ~140,000 oz golden and 67M lbs copper annually implicit a 20‑year life, and McIlvenna Bay (Saskatchewan) which is ~85% implicit and aiming for commercialized accumulation mid‑2026.
Management expects the woody to substantially boost standard and currency flow—pro forma accumulation is forecast to emergence ~80% to >900,000 golden equivalent ounces successful 2027 with statement ~$1.5 billion escaped currency travel and >$2 billion EBITDA successful 2027—and says cardinal risks are mostly addressed (permitting, financing, execution), leaving pro forma liquidity of ~$1.5 billion and minimal nett indebtedness (~$90 million).
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Eldorado Gold and Foran Mining (TSE:FOM) outlined plans to harvester successful an all-share transaction that executives said volition make a larger, much geographically diversified golden and copper shaper with 2 large projects expected to participate accumulation successful 2026.

On the call, Eldorado Gold CEO George Burns said the transaction is intended to physique “a stronger, much competitory golden and copper producer” with “industry-leading growth” and long-life assets. Under the presumption described connected the presentation’s “key terms” slide, Eldorado volition get each outstanding Foran shares via a program of arrangement.

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Foran shareholders are acceptable to person 0.1128 Eldorado shares per Foran share, implying an equity worth of astir CAD 3.8 billion. Post-transaction ownership is expected to beryllium astir 76% for Eldorado shareholders and 24% for Foran shareholders.

Management said Foran’s directors and officers person entered voting enactment agreements successful favour of the deal. Shareholder meetings are expected connected oregon astir April 14, 2026, with closing targeted for Q2 2026.

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A cardinal taxable of the telephone was that the combined institution volition person 2 afloat financed projects expected to participate accumulation successful 2026: Skouries successful Greece and McIlvenna Bay successful Saskatchewan.

For Skouries, Foran Executive Chairman and CEO Dan Myerson cited figures presented connected the telephone indicating expected yearly accumulation of 140,000 ounces of gold and 67 cardinal pounds of copper implicit a 20-year excavation life.