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Eldorado Gold Provides an Update on Greek Investments
Nov. 09, 2017 08:56AM PST
Precious Metals InvestingEldorado Gold Corporation (“Eldorado” or the “Company”) announces it will move the Skouries development project into care and maintenance. Dialogue has continued with Greece’s Ministry of Energy and Environment (“MoE”) with respect to the development of the Company’s subsidiary Hellas Gold S.A.’s, Kassandra Mine assets in Halkidiki, Northern Greece. However, the MoE has failed to …
Eldorado Gold Corporation (“Eldorado” or the “Company”) announces it will move the Skouries development project into care and maintenance. Dialogue has continued with Greece’s Ministry of Energy and Environment (“MoE”) with respect to the development of the Company’s subsidiary Hellas Gold S.A.’s, Kassandra Mine assets in Halkidiki, Northern Greece. However, the MoE has failed to issue the amended Electromechanical Installation permit for the Skouries flotation plant as well as other matters including, but not limited to, the relocation of antiquities at the Skouries site.
As quoted in the press release:
George Burns, Eldorado’s President and CEO stated, “Although we have made good progress on the Olympias mine, we require the necessary permits and government support prior to investing further in Skouries. As a consequence we are now taking the necessary legal action to enforce the Company’s rights while continuing efforts to resolve outstanding matters through ongoing dialogue.”
