TSX: ELD NYSE:
EGO
VANCOUVER, Sept. 13, 2017 /CNW/ - Eldorado Gold Corporation
("Eldorado" or the "Company") confirms that it has today received
the Olympias Operating Permit and the modified Electromechanical
Installation Permit for the tailings management facility at
Kokkinolakkas from the Ministry of Energy and Environment.
The Olympias Operating Permit is valid for a period of three years
from the date of issue.
At this time, remaining outstanding is:
- approval of the Technical Study for the old Olympias Mine
closure and the Installation permits for the paste plants at
Olympias; and
- the amended Electromechanical Installation permit for the
Skouries flotation plant,
as well as other matters including, but not limited to, the
relocation of antiquities at the Skouries site.
The Company is also awaiting additional detail from the Greek
Government regarding the pending arbitration process, which the
government has publicly indicated that formal notification will be
issued on 15 September, 2017. Eldorado is confident that any potential
arbitration will again demonstrate the Company's adherence to all
applicable laws and regulations.
Upon approval and receipt of all the required permits, clarity
around the arbitration process and a supportive government open to
discussions surrounding the use and implementation of best
available technologies, the Company will then be in a position to
re-assess its investment options in Greece.
George Burns, President and CEO
for Eldorado Gold said: "This is a positive step forward; however,
we are still waiting on other permits. Open dialogue with the
Government would be the Company's preference rather than legal
recourse and arbitration but we are confident that any potential
arbitration will again demonstrate Eldorado's adherence to all applicable laws
and regulations and its commitment to developing its Greek assets
safely, responsibly and with utmost care for the environment."
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).
Cautionary Note about Forward-looking Statements and
Information
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, these 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", "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.
Forward-looking statements or information contained in this
release include, but are not limited to the Company's Greece
Update, including statements or information with respect to:
our guidance and outlook, including expected production, projected
cash cost, planned capital and exploration expenditures for 2017;
our expectation as to our future financial and operating
performance, including future cash flow, estimated cash costs,
expected metallurgical recoveries, gold price outlook; and our
strategy, plans and goals, including our proposed exploration,
development, construction, permitting and operating plans and
priorities, and related timelines.
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. In particular, except
where otherwise stated, we have assumed a continuation of existing
business operations on substantially the same basis as exists at
the time of this release.
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 and the acquisition of Integra on the Company's
operations; risks related to impact of the integration of Integra;
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,
which discussion is incorporated by reference in this release, for
a fuller understanding of the risks and uncertainties that affect
the Company's business and operations.
Forward-looking statements and information is designed to
help you understand management's current views of our near and
longer term prospects, and it may not be appropriate for other
purposes.
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.
Financial Information and condensed statements contained
herein or attached hereto may not be suitable for readers that are
unfamiliar with the Company and is not a substitute for reading the
full annual financial statements and related MD&A available on
our website and on SEDAR under our Company name. The reader is
directed to carefully review such document for a full understanding
of the financial information summarized herein.
SOURCE Eldorado Gold Corporation