Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts

Tuesday, September 12, 2017

Greece: Where Literally Sitting on Goldmine Is Not Enough to Make Money

By Sotiris Nikas , Paul Tugwell , and Danielle Bochove
11 Σεπτεμβρίου 2017, 3:50 μ.μ. EEST 11 Σεπτεμβρίου 2017, 8:31 μ.μ. EEST


“Irrespective of what will happen next, the damage for Greece as an investment destination is done and it is very significant,”

Eldorado Gold Corp. has put Greece on the spot.

The Canadian mining company’s decision on Monday to suspend all its operations in Greece, citing delays in acquiring routine permits, puts the Syriza government of Prime Minister Alexis Tsipras in a difficult position. Eldorado Gold is the largest foreign investor in Greece and its decision comes as the country, which is working on creating a sustainable path to exit its bailout program, tries to lure foreign investments.

Tuesday, February 23, 2016

Greece's War of Words With Eldorado Escalates on Shorting Charge

 Nikos Chrysoloras

 Paul Tugwell


February 23, 2016 — 9:19 AM EET

Greek Energy Minister Panos Skourletis says Eldorado Gold Corp. Chief Executive Officer Paul Wright shorted the shares of his own company, comments the miner dismissed as “utter nonsense,” as tensions mount between the Canadian company and the government in Athens.
Eldorado shares fell 19 percent to C$3.53 on Jan. 12 in Toronto, the biggest one-day decline since December 2008, after Wright announced at a press conference in Athens that the company was suspending its investment plans for its Greek mines, blaming the attitude of the government.

Tuesday, January 13, 2015

Gold Rises to Highest Since October as U.S. Rate Outlook Weighed

By Laura Clarke and Glenys Sim  Jan 13, 2015 12:23 PM GMT+0200


Gold extended gains to the highest in almost 12 weeks as investors assessed the timing of higher borrowing costs and the strength of the U.S. economy amid slumping oil prices. Silver climbed to a four-week high.

Bullion rose for a third day after U.S. data last week showed falling incomes even as hiring accelerated. Fed Bank of San Francisco President John Williams has said raising rates in June would be a close call amid “strong momentum” in the labor market and weaker wage gains.

Friday, January 17, 2014

Canada's Eldorado does not see Perama approved before elections

Thu, Jan 16 2014
(Reuters) - Eldorado Gold Corp's Perama Hill project in Greece is not likely to be approved before local elections scheduled for mid-year, the gold miner said on Thursday.
The last time the Vancouver-based company gave an estimate for the project's environmental impact assessment, their timetable was the second half of 2013.

Tuesday, January 29, 2013

PRECIOUS-Gold rallies from 2-1/2 wk low; eyes Fed meeting

Tue Jan 29, 2013 6:59am EST
* Federal Reserve policy meeting on Jan 29-30

* Investors alert to U.S. non-farm payrolls on Friday (Updates throughout, changes dateline from SINGAPORE)

By Clara Denina

LONDON, Jan 29 (Reuters) - Gold firmed on Tuesday, snapping a four-day losing streak, but gains were limited as investors sought further data to gauge U.S. economic strength, also looking to a Federal Reserve statement later in the week.