Eldorado Gold Provides an Update on Greek Arbitration
VANCOUVER, Dec. 19, 2017 /CNW/ - Eldorado Gold Corporation ("Eldorado" or the "Company") confirms that at the request of the arbitral panel, the 90-day arbitration period has been extended by 60 days to now end on April 6, 2018. This domestic arbitration is with respect to the action initiated by Greece's Ministry of Finance and Ministry of Environment and Energy (the "Ministries") against the Company's subsidiary Hellas Gold S.A. (see the Company's press release dated September 15, 2017). The extension was at the request of the arbitral panel and by agreement of Hellas Gold S.A. and the Ministries.
The Company remains confident that the current arbitration will demonstrate its adherence to all applicable laws and regulations. The Company believes that with open dialogue both parties will come to a mutually agreeable solution to enable full and efficient development of the Company's Kassandra assets in the Halkidiki region, Greece.
About Eldorado Gold
Eldorado is a leading intermediate gold producer with mining, development and exploration operations in Turkey, Greece, Canada, Romania, Serbia 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).