VANCOUVER, September 13, 2017 /PRNewswire/ --
(TSX: ELD)
(NYSE:
EGO)
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.
Investor Relations: Krista Muhr,
Vice President Investor Relations & Corporate Communications,
+1-604-601-6701 or +1-888-363-8166, kristam@eldoradogold.com;
Media: Louise Burgess, Director
Communications & Government Relations,
+1-604-616-2296, louiseb@eldoradogold.com