Loading ...Contrary to what it said last week, Greece leftist new government has revoked a key approval that Canada’s Eldorado Gold Corp (TSX:ELD) (NYSE:EGO) needs to complete its Skouries project, the company said Monday.
The move, which may force the company to reconsider its investment plans, sent the company’s shares plummeting.
Eldorado was trading 8.6% lower to $6.59 in Toronto and almost 7.7% to $5.36 in New Yorkat 9:51 am ET.
“The company believes the decision of the ministry has no legal basis and will, if necessary, act to protect the legal rights of the company, employees and stakeholders,” the miner said in today’s statement.
more http://www.mining.com/greece-deals-major-blow-eldorados-skouries-mine-45706/