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Eldorado Gold wins favorable ruling in Greece arbitration

Published 04/04/2018, 11:14 AM
© Reuters.  Eldorado Gold wins favorable ruling in Greece arbitration
  • Eldorado Gold (EGO +3.1%) says a Greece arbitration panel has ruled it has a valid technical plan to build a metallurgy plant for treating concentrates from the Skouries and Olympias mines in the country.
  • EGO, which suspended operations in Skouries last November following a years-long permit dispute with Greece's government, says it will consider its next steps.
  • The ruling “should reduce the level of perceived political risk related to the company’s Greek build-out, which has been a key headwind for Eldorado shares the last few years,” says RBC Capital analyst Dan Rollins.
  • Last week, EGO filed a new technical report on the Skouries development that it said reduces the project's environmental footprint by 40%.
  • Now read: Eldorado Gold: The Capital Shortfall


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