Eldorado Reports Favorable Progress at Olympias Phase II Development; Shares Rally 10%
As we had previously written, the sale of its Chinese assets left Eldorado as a gold miner with just two mines in production, putting pressure on the successful development of Olympias and Skouries in Greece. Given the problems that Eldorado has had with the current Greek government, the market discounted Eldorado’s stock over its peers, leading to its underperformance. However, on March 29, Eldorado announced positive news for Skouries, which is slated to open this year. Shares rallied more tha...Eldorado Gold is engaged in the exploration, development, mining and production of gold and other mining resources in Brazil, China, Turkey and Greece.
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