Gold Mine Swallows Copper... Day of 700 Billion Market Cap Jump

Eldorado Gold Corp. (EGO) closed at $32.15 on the New York Stock Exchange on the 19th, up 6.04%. Trading volume was roughly 1.42 million shares, and its market capitalization reached about $8.5 billion (approximately KRW 11 trillion), marking a one-day increase of around $540 million (roughly KRW 700 billion).

Last month, the company finalized its acquisition of Canada’s Foran Mining, formally launching a strategy to increase its copper exposure. The approximately CAD 3.8 billion (KRW 3–4 trillion) deal added the McIlvenna Bay copper project to its portfolio. In its first-quarter results announced at the end of April, Eldorado delivered an earnings surprise—revenues and profits topped market expectations—and upheld its full-year production guidance.

Headquartered in Vancouver, Eldorado Gold is a mid-tier miner with gold and copper production assets and development projects in Turkey, Canada, Greece and Romania. With major gold and copper projects such as Sykouria in Greece and Foran’s McIlvenna Bay targeting commercial production around 2026, the market anticipates a significant jump in the company’s future output and cash flow.