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giovedì 6 agosto 2015

Mining: Massive gold reserves in Greece offer unique opportunity for Eldorado Gold

Mining.com - Massive gold reserves in Greece offer unique opportunity for Eldorado Gold
SNL Metals & Mining | August 6, 2015

It's no secret that economic turmoil and extreme uncertainty in Greece pose major threats to the global economy. Barring several setbacks and challenges, namely from Greece's left-wing government, Eldorado Gold Corp. offers great potential in the country, as it has given itself the ammunition to achieve success in the near future through its gold projects.

Eldorado owns three gold projects in Greece: Olympias, Skouries and Perama Hill, along with an operating zinc mine called Stratoni

The company's strong Greek presence doesn't end there; among the seven companies that SNL tracks with projects in the country, Eldorado comes in second with $36.39 billion in reserves and resources in-situ value. The other companies combine for $43.90 billion.

(...) Together, the Olympias, Skouries and Perama Hill projects account for 8.5 million ounces in attributable gold reserves, followed by the Kisladag mine in Turkey with 8.1 million ounces.

(...) Eldorado already invested $450 million between these two projects and is not backing down despite risk in the country. The company's Investor Presentationfrom June highlights that it continues to employ over 2,000 people in Greece — where unemployment figures remain north of 25% — and that it will pay at least $1 billion in taxes to the Greek government over the next two decades.

(...) Stratoni, the company's only operating zinc mine in Greece, has an in-situ value of $164.2 million based on its total attributable reserves and a nominal zinc price of $2,161/tonne. Skouries provides the company with an in-situ value of $4.58 billion in copper reserves based on a nominal price of $6,283/tonne. Conversely, Eldorado's three gold projects account for $9.74 billion in attributable in situ value, based on a nominal gold price of $1,150/oz.

Eldorado can expect to see a substantial increase in Greek gold production starting in 2016 when phase two construction at Olympias is complete and in 2017 when Skouries commences production. 

By 2020, Eldorado has estimated 123,420 equivalent ounces of annual gold production at Olympias alone.


dalla pagina Google Finance su Eldorado Gold:

The Company’s activities involve various facets of the mining industry, including exploration, development, production and reclamation. 

Its operating gold mines include :

Kisladag in Turkey (100%)
Efemcukuru in Turkey (100%)
Tanjianshan in China (90%)
White Mountain in China (95%) 
Jinfeng in China (82%)

Its gold projects include :

Perama Hill in Greece (100%)
Olympias in Greece (95%)
Skouries in Greece (95%)
Certej in Romania (81%)
Eastern Dragon in China (75%)
Tocantinzinho in Brazil (100%)

Its other operating mines include :

Stratoni Lead and Zinc Concentrates in Greece (95%)
Vila Nova Iron Ore in Brazil (100%)

The Company has completed an exploration program in Romania at the Bocsa, Magura, Muncel, Brad and Deva projects, which are situated in the Apuseni district near the Certej deposit.

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