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Eldorado Gold Corporation (ELD.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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15.05-0.58 (-3.71%)
As of 11:11AM EDT. Market open.
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  • A
    Ad
    After negotiations, which have been going on for almost a year, sources say that most of the "thorns" have been overcome.
    The government is close to an agreement with the Canadian company Eldorado Gold (parent company of Hellenic Gold) which operates the Kassandra Mines in Northeastern Halkidiki.

    Following negotiations to update the existing transfer agreement and the company's investment plan, which have been underway for almost a year, sources familiar with the matter tell APE-MPE that most of the "thorns" have been overcome and that the agreement seems to be made possible.

    It is noted that Eldorado Gold proceeded to successive revisions of the investment plan that it had submitted to the Greek government. According to the information, an agreement has been reached for a 10% increase in revenues to the state from mining rights, while capital investments will be increased, as well as tax revenues.

    On the issue of employment, which is a top priority for both the government and the people of the region, the revised business plan provides for many more jobs than originally planned. It is noted that the Kassandra Mines are already the largest employer in the region as the investment employs 1,650 employees.

    In terms of improving the environmental footprint of the investment , Eldorado Gold is committed to better waste management, using the dry disposal method. According to the company, thanks to this method, the environmental footprint in Skouries will be reduced by 40%. The cleaning of the area from the old remains has been put on the table, as well as the implementation of further investments in environmental protection systems.

    For corporate social responsibility projects in the Municipality of Aristotle, the information wants the Greek government to ask Eldorado to commit to multi-million euro projects in the area and to investigate funding schemes, so that the absorption of funds by local communities can begin immediately. for the implementation of developmental social projects. This issue was discussed during the recent visit of Mr. Hatzidakis and the Secretary General of Energy and Mineral Raw Materials, Alexandra Sdoukou (who are handling the negotiations with the Canadian side on behalf of the government) at the company's offices in Skouries and the Municipality of Aristotle.

    A crucial point in the negotiations is the licensing framework, which is a priority for Eldorado. According to information, a scheme is being sought that will combine the provisions of the European environmental legislation with corresponding agreements that have been signed from time to time by Greek governments in recent years.

    Finally, on the issue of the production of pure metals by the construction of a metallurgical plant , the Canadian group undertook to submit a study on how it can be implemented in the best environmentally friendly way.

    It is clear - the same sources conclude - that we are close to an agreement that will ensure increased social, economic and environmental benefits for local communities and the Greek state , "unlocking" a large-scale project that is an important opportunity for the country to its mineral wealth in a sustainable way, producing significant benefits for local employment and the economy
  • B
    Beauspeak
    "Close to government agreement - Eldorado Gold for investment in Kassandra Mines"

    This is from: https://www.capital.gr/epikairotita/3482053/konta-se-sumfonia-kubernisis-eldorado-gold-gia-tin-ependusi-sta-metalleia-kassandras

    The government is close to an agreement with the Canadian company Eldorado Gold (parent company of Hellenic Gold) which operates the Kassandra Mines in Northeastern Halkidiki. Following negotiations on updating the existing transfer agreement and the company's investment plan, which have been ongoing for almost a year, the agreement is reportedly closed with an increase in government revenues, investments, jobs and additional measures. for the protection of the environment.

    Sources familiar with the matter tell APE-MPE that most of the "thorns" have been overcome and that the agreement seems to be possible thanks to the steadfast stance taken from the first moment by the Greek government through the Minister of Environment and Energy Kostis Hatzidakis made it clear that it is in favor of the investment, under certain conditions: More and more sustainable jobs, increased inflows into state coffers, safeguards for environmental protection in accordance with European and Greek legislation by improving the environmental footprint of the investment and projects for the Municipality of Aristotle , in consultation with the municipal authority.

    In this context, Eldorado Gold proceeded with successive revisions of the investment plan that it had submitted to the Greek government. According to the information, an agreement has been reached for a 10% increase in revenues to the state from mining rights, while capital investments will be increased, as well as tax revenues.

    On the issue of employment, which is a top priority for both the government and the people of the region, the revised business plan provides for many more jobs than originally planned. It is noted that the Kassandra Mines are already the largest employer in the region as the investment employs 1,650 employees.

    In terms of improving the environmental footprint of the investment, Eldorado Gold is committed to better waste management, using the dry disposal method. According to the company, thanks to this method, the environmental footprint in Skouries will be reduced by 40%. The cleaning of the area from the old remains has been put on the table, as well as the implementation of further investments in environmental protection systems.

    For corporate social responsibility projects in the Municipality of Aristotle, the information wants the Greek government to ask Eldorado to commit to multi-million euro projects in the area and to investigate funding schemes, so that the absorption of funds by local communities can begin immediately. for the implementation of developmental social projects. This issue was discussed during the recent visit of Mr. Hatzidakis and the Secretary General of Energy and Mineral Resources, Alexandra Sdoukou (who are handling the negotiations with the Canadian side on behalf of the government) at the company's offices in Skouries and the Municipality of Aristotle.

    A crucial point in the negotiations is the licensing framework, which is a priority for Eldorado. According to information, a scheme is being sought that will combine the provisions of the European environmental legislation with corresponding agreements that have been signed from time to time by Greek governments in recent years.

    Finally, on the issue of the production of pure metals by the construction of a metallurgical plant, the Canadian group undertook to submit a study on how it can be implemented in the best environmentally friendly way.

    It is clear - the same sources conclude - that we are close to an agreement that will ensure increased social, economic and environmental benefits for local communities and the Greek state, "unlocking" a large-scale project that is an important opportunity for the country to its mineral wealth in a sustainable way, producing significant benefits for local employment and the economy. Greece has the potential to become the leading gold producer in Europe thanks to the deposit of Skouria and the wider subsoil of Northeastern Halkidiki, whose mineral wealth is valued at 72 billion euros. An agreement that will unblock such a significant investment for the country after a number of years demonstrates, among other things, the country's commitment to attract additional funding and large-scale investors. At the same time, it will mean the "filing" of the claim for compensation of 750 million euros that Eldorado Gold had submitted to the Greek State for the damages that it claims to have suffered due to the pre-existing dispute.

    In this context, the aim is to draw up a contract with clear terms to ensure the maximum benefit for the country and at the same time to agree on a clear roadmap for the development of Eldorado Gold's investment over a period of 25 years.
  • F
    Freesurfin
    Guess who now owns 4% of EGO (according to Interactive Brokers)?

    Renaissance Technologies LLC, also known as RenTech[3] or RenTec,[4] is an American hedge fund with $110B AUM based in East Setauket, New York,[5] on Long Island, which specializes in systematic trading using quantitative models derived from mathematical and statistical analyses. The firm is regarded as one of the "most secretive and successful" hedge funds in the world.[6] Their signature Medallion fund is famed for the best record in investing history. Renaissance was founded in 1982 by James Simons, an award-winning mathematician and former Cold War code breaker.
  • c
    charles
    Quarter 3:
    1. Skouries permits including dry-stack tailings
    2. Adjustments of royalty rates with Greek State
    3. JV with Franco Nevada for Skouries mine
    4. Revenue over $700 million with debt reduction of $59 million
  • P
    Peter
    I love EGO Im already up $7000+ dollars and do not mind adding here for the safest next quarter, dividend coming, greek permits, debt reduction with bond payment, excellent qmx results, lamaque incline started, and just overall stronger fundamentals, while it bleeds I buy.
    "The stock market is a device for transferring money from the impatient to the patient"
    Warren Buffett
  • W
    Warren
    Anyone who knows the log scale understands that a multi year gold bull run can easily make this $100 USD again one day. This is a buy and hold company in this environment.
  • c
    charles
    Estimate Q3 Earnings Results with realized gold price to exceed $1950 will be new record high revenue, with a reduction of another $58M in debt.
  • c
    charles
    Fed Powell just confirmed no interest rates hikes until 2023 this is the best environment to be in gold stocks in history. Congratulations to all who bought Eldorado Gold over the past weeks you made the correct decision will be proven right with Greek assets.
  • c
    charles
    Make sure to add EGO to your portfolio of core holdings with all the growth happening at Quebec and Greece you will be sitting pretty by the end of this year well over $30/ Share. Skouries permits have been now confirmed get ready for a major move to the upside reflected on unusually high call options insiders know.
  • c
    charles
    Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) was the recipient of some unusual options trading on Friday. Stock investors bought 6,363 call options on the company. This is an increase of approximately 140% compared to the average daily volume of 2,651 ca
    Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) was the recipient of some unusual options trading on Friday. Stock investors bought 6,363 call options on the company. This is an increase of approximately 140% compared to the average daily volume of 2,651 ca
    www.google.com
  • M
    Mark
    $NAK $GDXJ $EGO $SILJ
    For those worried about miners not performing recently -
    Relax. Time is on our side with Q3 results only weeks away. Regardless of whether the Fed has HFT hedge funds systemically suppressing these, or larger buyers are not yet materializing, the clock is ticking. $EGO my long term holding. EGO numbers will speak for themselves Q2 average gold sale $1726 versus Q3 average gold sale $1970.
  • P
    Peter
    EGO is undoubtedly the best buy in the mining sector, lowest book value in history and giant growth that will come from Greece let the short covering begin!!!!!!!
  • M
    Mark
    $EGO option volume was 8X normal on Friday with 19,491 contracts. Call volume was 94% and put volume was 6%.
  • B
    Bill
    Eldorado Gold: Undervalued With Production Upside
    Sep. 15, 2020
    https://seekingalpha.com/article/4374492-eldorado-gold-undervalued-production-upside
    Eldorado Gold is a mid-tier gold miner with a $1.9 billion market capitalization. Eldorado reported very strong Q2 2020 financial results, and Q3 should be even better with gold prices $200+ an ounce higher.
    Eldorado Gold is a mid-tier gold miner with a $1.9 billion market capitalization. Eldorado reported very strong Q2 2020 financial results, and Q3 should be even better with gold prices $200+ an ounce higher.
    seekingalpha.com
  • c
    charles
    BofA just doubled down on Eldorado Gold:
    “Gold prices at 9-year highs, But Eldorado still Undervalued” These boys are playing the game long come along for the ride.
  • r
    ron
    Interesting to see EGO updated TZ page, what seems to be real signal to buyers that this asset will NOT be sold less than $313 million:
    In the second quarter of 2019, an updated technical report was completed for Tocantinzinho with an effective date of June 21, 2019 and filed on SEDAR on August 1, 2019. Highlights of the study at an estimated gold price of $1300 include an IRR of 13.4% and an NPV of $216 million at a 5% discount rate. At an estimated gold price of $1400, IRR is 16.6% with an NPV of $313 million at a 5% discount rate.
  • c
    charles
    There are much larger profits ahead Eldorado Gold is now a long term investment that will make many extremely rich.
  • c
    charles
    This is the time to double down and accumulate to the max, if you do not add shares now you will regret seeing shares move over $30 at year end is not just giant asset of Skouries but also Lamaque PEA will be big too.
  • c
    charles
    Quarter 3 results are out in less than 3 weeks Eldorado balance sheet will have over $700M cash-on-hand minus $59M less debt. This is a full turnaround with solid balance sheet even if Eldorado wants to build Skouries alone they could but they will rather JV. At this rate $40 by year end would not be a shock.
  • j
    jimmye123
    Greece has the potential to become the leading gold producer in Europe thanks to the deposit of Skouria and the wider subsoil of Northeastern Halkidiki, whose mineral wealth is valued at 72 billion euros. An agreement that will unblock such a significant investment for the country after a number of years demonstrates, among other things, the country's commitment to attract additional funding and large-scale investors. At the same time, it will mean the "filing" of the claim for compensation of 750 million euros that Eldorado Gold had submitted to the Greek State for the damages that it claims to have suffered due to the pre-existing dispute.