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Eldorado Gold Corp T.ELD

Alternate Symbol(s):  EGO

Eldorado Gold Corporation is a gold and base metals mining, development, and exploration company. It has mining operations, ongoing development projects and exploration in Turkiye, Canada, and Greece. It operates four mines: Kisladag and Efemcukuru located in western Turkiye, the Lamaque Complex in Quebec, Canada, and Olympias, located in northern Greece. Kisladag, Efemcukuru and Lamaque are gold mines, while Olympias is a polymetallic operation producing three concentrates bearing gold, lead-silver and zinc. The Lamaque Complex is located in Val-d’Or, Quebec. It includes the Triangle Mine (Upper and Lower), the Ormaque Deposit, the Parallel Deposit, the Plug #4 Deposit, and the Sigma Mill. Efemcukuru is an underground operation located in Izmir Province in western Turkiye. Its other development project in its portfolio includes Perama Hill, a gold-silver project in Greece. Its Stratoni is an underground, silver-lead-zinc mine located in the Halkidiki Peninsula in northern Greece.


TSX:ELD - Post by User

Bullboard Posts
Comment by Weebleon Aug 11, 2017 5:10pm
138 Views
Post# 26572965

RE:Re,the question

RE:Re,the questionI saw that yesterday....following is a later article.  I think a lot of this is politically motivated.   This kind of thing has happened many times before.    Syriza has always been aligned with the socialist and environmentalists on the left and want to keep their votes.   They will do what they can to save face.   Having said that, even Syriza is smart enough to know that they need the jobs and royalties.    The last thing they want to do is go into an election with 2400 angry miners and construction workers marching on the streets and an economy worse than it already is.....   

So I am sure the Olympias mine will go ahead.  I have waited this long, I am prepared to wait some more.

https://www.naftemporiki.gr/story/1266146/more-delays-bureaucratic-obstacles-bedevil-gold-mining-concession-in-northern-greece

By L. Kalamara
lkal@naftemporiki.gr

Yet another legal clash is apparently looming between the leftist Greek government and mining multinational El Dorado Gold's subsidiary in Greece, Hellas Gold, over the latter's gasping gold mining concession in the northern Greece prefecture of Halkidiki.

The mining company's operations have for years faced sharp opposition by some local communities, environmentalist groups, anti-capitalist movements in the country and even the current ruling party, SYRIZA, when it was in the opposition. The investment - one of the biggest industrial-level projects in the country - has also faced repeated legal challenges and bureaucratic foot-dragging.

The latest and ominous chapter in the "tug-of-war" between the Greek state and the mining concessionaire is an announcement by the latter that the inauguration of a metallurgical unit at the Olympiada site will be postponed until further notice. The Olympiada site was scheduled to resume operations next month after 23 years of inactivity.

The decision reportedly comes after several licenses needed to operate the facilities have still not been issued by relevant ministries.

Beyond Olympiada, it is the Skouries site, also in Halkidiki prefecture, that has attracted the fiercest opposition.

As expected, the development generated an angry announcement by an association representing Hellas Gold workers.

"... we don't want to be the next 2,400 citizens that will be registered on unemployment rolls, with the SYRIZA-AN.EL government responsible," a statement read, referring to the two parties that form the leftist-rightist government coalition.

"We hope that reason wins out, and that (ideological) obsessions are bypassed, so that September finds workers on the job and not on the streets, protesting against the government."


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