Eldorado Gold Corp (EGO): • Eldorado Gold (EGO says it will seek €...

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Tuesday, 09/18/2018 3:21:15 PM

Tuesday, September 18, 2018 3:21:15 PM

• Eldorado Gold (EGO says it will seek €750M in compensation (~$877M) from Greece for damages suffered due to delays in the issuance of permits for its Skouries project.
• EGO filed a new technical report for the project earlier this year which it said significantly reduces the development's environmental footprint, and then was favored by an arbitration panel which ruled its technical plan to build a metallurgy plant to process concentrate mined from its Skouries and Olympias gold project was valid, but the company has still not received the necessary permits to start construction.
• EGO President and CEO George Burns says the company's application "represents a good-faith attempt to resolve the matter with the Greek state as it relates to costs incurred resulting from permit delays to our Skouries project... We hope that this matter can be resolved in an amicable manner without needing to go down the route of arbitration."