Blueprint
NEWS RELEASE
TSX: ELD NYSE: EGO
|
September 18, 2018
|
Eldorado Gold Confirms Filing of Application for Payment in
Greece
VANCOUVER,
BC – Eldorado Gold Corporation (“Eldorado” or
“the Company”) confirms that its Greek subsidiary,
Hellas Gold S.A. (“Hellas Gold”), has filed an
Application for Payment (the “Application”) with the
Hellenic Republic (the “Greek State”). The Application
requests payment of approximately €750 million for damages
suffered by the Company arising from delays in the issuance of
permits for the Skouries project, including damages for out of
pocket costs and loss of profits. The Application is a non-judicial
request for payment and does not initiate legal
proceedings.
George
Burns, Eldorado Gold’s President and CEO said, “The
Application represents a good-faith attempt to resolve the matter
with the Greek State as it relates to costs incurred resulting from
permit delays to our Skouries project. Eldorado has always acted in
a manner consistent with finding a mutually-agreeable solution to
responsibly developing Skouries. We hope that this matter can be
resolved in an amicable manner without needing to go down the route
of arbitration.”
About Eldorado Gold
Eldorado is a gold and base metals producer with mining,
development and exploration operations in Turkey, Greece, Romania,
Canada and Brazil. The Company has a highly skilled and
dedicated workforce, safe and responsible operations, a portfolio
of high-quality assets, and long-term partnerships with local
communities. 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",
“goals”, "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, statements or information with
respect to filing of an application for payment in
Greece.
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
commodity price volatility; recoveries of gold and other metals;
results of test work; revised guidance; risks regarding potential
and pending litigation and arbitration proceedings relating to the
Company’s, business, properties and operations; expected
impact on reserves and the carrying value; the updating of the
reserve and resource models and life of mine plans; mining
operational and development risk; foreign country operational
risks; risks of sovereign investment; regulatory risks and
liabilities including, regulatory environment and restrictions, and
environmental regulatory restrictions and liability; discrepancies
between actual and estimated production, mineral reserves and
resources and metallurgical testing and recoveries; risks related
to the impact of the sale of our Chinese assets and the acquisition
and integration of Integra on the Company’s operations;
additional funding requirements; currency fluctuations; 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
properties, as well as those risk factors discussed in the sections
titled “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 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.
Contact
Investor Relations
Peter
Lekich, Manager Investor Relations
604.687.4018
or 1.888.353.8166
peter.lekich@eldoradogold.com
Media
Louise
Burgess, Director Communications and Government
Relations
604.601.6679
or 1.888.363.8166
louiseb@eldoradogold.com