RE:RE:Cut Losses?While we're all waiting, here's some history and it dates back to 1995.
The big winner in all of this was European Goldfields. Eldorado bought their 9M ounce resource for a mere $2.5B in shares in 2011.
As to receiving the permits - I've never understood how EGO could win in arbitration (twice) and still be denied their permits. Isn't arbitration binding?
Anyway, no sense crying over spilled milk, but Euro Sun Mining in Romania is fully permitted and without any environmental or other issues. Its' resource is more than 10M gold equivalent ounces with another property yet to be explored. And it has a market cap of only $28M.
Perhaps EGO can get enough money from the Greek government to buy ESM and then someday overcome the objections to Skouries (read the second link below for the history).
At this point, I am not factoring Skouries into EGO's valuation but instead focusing on them hitting the 600,000K ounce production target (interestingly, back in 2011, the goal was 1.5B ounces of gold production...
Let's just call Skouries a wildcard. Even though it will be an underground mine, it is in a pristine area and 'the' issue is how much forest needs to be cleared to develop the mine site (180 hectares of forest). Then there is a question of water. Can the mine be developed and leave enough water for the locals.
https://www.forbes.com/sites/marketnewsvideo/2011/12/19/eldorado-gold-to-acquire-european-goldfields/
https://www.theglobeandmail.com/report-on-business/international-business/european-business/eldorado-golds-big-greek-mining-problem/article11584840/