Qatar Gets Sweet on Greece in First Gold Investment

- October 3rd, 2011

Mining Weekly reported that shares of European Goldfields (TSX:ECU) rose on news that it received funding from Qatar.

Mining Weekly reported that shares of European Goldfields (TSX:ECU) rose on news that it received funding from Qatar.

As quoted in the market news:

The stock surged over 20% before easing slightly, as it answered questions as to how it would fund its two Greek gold projects, which had created an overhang on the stock. TSX-listed European Goldfields announced it had struck an agreement to borrow $600-million from Qatar Holding, a unit of the Qatar Investment Authority, and also issued the sovereign wealth fund warrants to buy 40-million shares for $367-million, or C9.08 apiece.

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