TSX:PRB - Post Discussion
Post by
stockwatcher7 on Sep 07, 2022 5:06pm
ELD will move up now
Eldorado signs mandate letter for Skouries financing
2022-09-07 07:28 MT - News Release
Mr. George Burns reports
ELDORADO GOLD SIGNS MANDATE LETTER FOR SKOURIES PROJECT FINANCE FACILITY
Eldorado Gold Corp. has entered into a mandate letter with Greek banks for a credit-committee-approved, 680-million-euro project finance facility for the development of the Skouries project in northern Greece.
"The mandate letter represents an important step towards the restart of construction at Skouries," said George Burns, president and chief executive officer of Eldorado. "We believe that Skouries is a world-class project that will have a lasting positive economic and social impact for Greece, the communities we work in and other stakeholders. We remain confident in the feasibility study capital cost estimate of $845-million (U.S.), and with the project finance facility in place, the company has the balance sheet capacity to fund the remaining capital cost for completion of the project. We also continue to evaluate opportunities for complementary sources of financing. A final decision to restart construction remains subject to board approval, which we expect to seek in the second half of 2022."
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