What are the terms of Eldorado’s offer for Foran Mining?

For each Foran share, holders would receive 0.1128 Eldorado share plus C$0.01 in cash. The deal is an all‑share transaction designed to conserve Eldorado’s cash while adding equity dilution. It remains subject to shareholder, court, and regulatory approvals before closing.

Why did ELD.TO stock drop on the announcement?

ELD.TO stock fell about 8.5% as investors weighed dilution, execution risk, and a shift toward base metals. The market often discounts near‑term uncertainty until financing, capex, and construction timelines are clarified. Volatile precious metals and strong copper also framed the mixed reaction to the strategy.

When could the McIlvenna Bay project start producing?

Company materials point to mid‑2026 for initial production from the McIlvenna Bay project, pending approvals and successful construction. Any delays in permits, supply chains, power connections, or contractor availability could shift the timeline, so investors should monitor quarterly updates closely.

How does the deal change Eldorado’s commodity mix?

Management expects copper to move to about 15% of Eldorado’s revenue mix once McIlvenna Bay ramps. The Eldorado Gold Foran adoption adds Canadian base‑metals exposure to Eldorado’s gold portfolio, which can help diversify cash flow but also adds construction and integration risk until the asset reaches steady state.

Global Market Insights

ELD.TO Stock Today, February 03: $3.8B Foran Deal Sinks Shares

ByHuzaifa Zahoor February 4, 2026February 4, 2026

Eldorado Gold Foran adoption moved to the forefront today as shares of ELD.TO slid about 8.5% after Eldorado agreed to acquire Foran Mining (FOM.TO) for C$3.8 billion. The all-share offer adds the near-ready McIlvenna Bay copper‑zinc project in Saskatchewan and tilts Eldorado further toward copper. Investors questioned the timing and strategy, with precious metal prices volatile and copper strong. The structure is 0.1128 Eldorado share plus C$0.01 in cash per Foran share. We break down the terms, market reaction, valuation context, and key catalysts for Canadian portfolios.