TSX: ELD NYSE: EGO
VANCOUVER, Sept. 21, 2017 /CNW/ - Eldorado Gold Corporation
("Eldorado", "the Company" or "we") today announced that it has
entered into constructive dialogue with Greece's Ministry of Energy and Environment
("MoE") in respect to the development of the Company's subsidiary,
Hellas Gold S.A.'s, Kassandra Mine
assets in Halkidiki, Northern Greece. The Kassandra assets,
which include the Skouries and Olympias projects and the Stratoni
mine, were permitted under one single Environment Impact Study
("EIS") approved in 2011 by the Greek State.
George Burns, President and Chief
Executive Officer of Eldorado,
commented: "We are very pleased with the constructive dialogue that
is underway with the Ministry of Energy and Environment.
Furthermore, last week the Ministry issued a number of long overdue
routine permits for our Olympias project. As a result of
these developments we have decided to temporarily postpone our
decision to place our assets in Halkidiki on care and
maintenance."
Mr. Burns concluded: "We preserve the right to place our assets
on care and maintenance and to take prompt legal action to protect
the Company and its assets in Greece should our dialogue with the Ministry
of Energy and Environment prove unsuccessful. At the same
time, we remain confident that the arbitration process initiated
last week by the Greek government will be concluded in a timely and
efficient manner, for the benefit of all stakeholders."
About Eldorado Gold
Eldorado is a leading mid-tier
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).
Forward Looking Statement
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 "to be", "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 this news release.
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; risks related to
the acquisition of 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 and 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