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Eldorado swings to loss on Greek tax adjustment

By: Henry Lazenby New York- and Toronto-listed midtier miner Eldorado Gold this week reported a net loss of $45.4-million or $0.06 a share for the first quarter ended March 31, compared with profit of $67.9-million or $0.11 a share in the same quarter of 2012, as a result of a $125.2-million adjustment related to... 

Eldorado Gold full-year profit lower on increased costs, lower production

By: Henry Lazenby Mid-tier miner Eldorado Gold on Friday reported full-year profit of $305.3-million or 44c a share, which was nearly 5% lower when compared with $318.7-million or 58c a share in 2011, mainly as a result of increased costs at its Chinese mines and lower sales. The company reported revenue of... 

Eldorado profit up 29%, production ahead of plan

By: Henry Lazenby ASX- and TSX-listed Eldorado Gold on Thursday reported a 29% year-on-year increase in first-quarter profit to $67.9-million or $0.11 a share. Revenues from gold sales were up 24% to $49.6-million owing to higher gold prices and bullion sales of 150 661 oz were slightly higher than in the... 

Eldorado advances Greek projects post takeover

By: Esmarie Swanepoel The Greek Ministry of the Environment, Energy and Climate Change (MoE) has given approval to the technical studies of both the Skouries and Olympias mine projects being developed by ASX- and TSX-listed Eldorado Gold. Eldorado said on Friday that its subsidiary Hellas Gold had mobilised a number... 

Eldorado, European Goldfields owners greenlight merger

By: Matthew Hill Shareholders in European Goldfields and Eldorado Gold on Tuesday gave the nod to the $2.5-billion merger, first unveiled in December. Earlier this month, proxy voting firms Institutional Shareholder Services and Glass Lewis & Co. recommended investors vote in favour of the deal. 

European Goldfields confirms informal approaches

By: Matthew Hill European Goldfields, which owns projects in Greece, on Tuesday confirmed it had received “preliminary and indicative approaches” from other companies, after reports that Eldorado Gold had made advances on the TSX-listed company. European Goldfields said it had received no formal approaches, and... 

European Gold's Konig takes leave after illness

By: Matthew Hill European Goldfields, which last month secured a $1b-illion investment from Qatar, said on Monday executive chairperson Martyn Konig had taken leave owing to an unspecified sudden illness. The company said he was “making excellent progress in his recovery” and would return to his job “in the near... 

Qatar gets sweet on Greece in first gold investment

By: Matthew Hill Greece's debt worries left markets reeling on Monday, but did little to hold back shares in European Goldfields, building mines in the country, after the company announced Qatar's sovereign wealth fund was pumping around $1-billion into it. The stock surged over 20% before easing slightly, as it... 

European Goldfields rises as EIS approved

By: Liezel Hill Shares in European Goldfields rose 10.2% in Toronto by miday on Friday, after the Greek government approved an environmental-impact study for the company's gold projects in the country. European Goldfields plans to build and openpit mine and processing facilities at its Skouries project and will... 

European Goldfields signs mandate for $300m loan facility

By: Liezel Hill TSX- and Aim-listed European Goldfields has signed a mandate letter with a group of financial institutions to arrange a $300-million secured term and revolving facility, the firm said on Thursday. The funds will be used to build the company's Skouries openpit project and processing facilities,... 

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