TSX: ELD NYSE:
EGO
VANCOUVER, Aug. 3, 2017 /PRNewswire/ - Eldorado Gold
("Eldorado" or the "Company") today provides an update on
Greece.
Today, the Greek Ministry of Energy and Environment issued a
press release stating their intention to have arbitration underway
by the end of the month. This release also stated that all permits
outstanding for Olympias are underway, while the permits for
Skouries remain unissued.
George Burns commented, "While
the press release did not result in any additional clarity
regarding the details of the intended arbitration by the Greek
government, the Ministry stated that this is the best path forward
in resolving all outstanding issues with the Company's projects. To
be clear, we have not yet received formal notice of arbitration and
permits applied for remain unissued. We continue to evaluate all
capital spending and development timelines at our projects in
Greece. At this time,
commissioning at Olympias and reduced development works at Skouries
are continuing."
About Eldorado Gold
Eldorado is a leading
intermediate gold producer with mining, development and exploration
operations in Turkey, Greece, Romania, Serbia, Canada and Brazil. The Company's success to date is based
on a highly skilled and dedicated workforce, safe and responsible
operations, a portfolio of high-quality assets, and long-term
partnerships with the communities where it operates.
Eldorado's common shares trade on
the Toronto Stock Exchange (TSX: ELD) and the New York Stock
Exchange (NYSE: EGO).
Certain of the statements made and information provided in
this press release are forward-looking statements or information
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. Often, but not always, forward-looking statements and
forward-looking information can be identified by the use of words
such as "plans", "expects", "is expected", "budget",
"continue", "projected", "scheduled", "estimates", "forecasts",
"projected", "intends", "anticipates", or "believes" or the
negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Such forward-looking statements or information include, but are not
limited to, statements or information with respect to the
Statement.
Forward-looking statements and forward-looking information by
their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information.
We have made certain assumptions about the forward-looking
statements and information, including assumptions about the
geopolitical, economic, permitting and legal climate that we
operate in; the future price of gold and other commodities;
exchange rates; anticipated costs and expenses; production, mineral
reserves and resources and metallurgical recoveries, the impact of
acquisitions, dispositions, suspensions or delays on our business
and the ability to achieve our goals.
Even though our management believes that the assumptions made
and the expectations represented by such statements or information
are reasonable, there can be no assurance that the forward-looking
statement or information will prove to be accurate. Many
assumptions may be difficult to predict and are beyond our
control.
Furthermore, should one or more of the risks, uncertainties
or other factors materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in forward-looking statements or information. These
risks, uncertainties and other factors include, among others, the
following: geopolitical and economic climate (global and local),
risks related to mineral tenure and permits; gold and other metal
price volatility; mining operational and development risk; foreign
country operational risks; risks of sovereign investment;
regulatory environment and restrictions, including environmental
regulatory restrictions and liability; discrepancies between actual
and estimated production, mineral reserves and resources and
metallurgical recoveries; risks related to impact of the sale of
our Chinese assets on the Company's operations; the ability to
acquire the shares that it does not already own in Integra Gold
Corporation; additional funding requirements; currency
fluctuations; litigation risks; community and non-governmental
organization actions; speculative nature of gold exploration;
dilution; share price volatility; competition; loss of key
employees; and defective title to mineral claims or property, as
well as those factors discussed in the sections entitled
"Forward-Looking Statements" and "Risk factors in our business" in
the Company's most recent Annual Information Form & Form
40-F. The reader is directed to carefully review the detailed risk
discussion in our most recent Annual Information Form filed on
SEDAR under our Company name, for a fuller understanding of the
risks and uncertainties that affect the Company's business and
operations.
There can be no assurance that forward-looking statements or
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, you should not place undue reliance
on the forward-looking statements or information contained
herein. Except as required by law, we do not expect to update
forward-looking statements and information continually as
conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada and the U.S.
SOURCE Eldorado Gold Corporation