TSX: ELD NYSE:
EGO
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).
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 and
arbitration 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