Gold miners were caught in an ugly slide in the S&P/TSX Composite Index today, which shed 215 points in reaction to another poor economic report coming out of the US.
Eldorado Gold Corporation (ASX: EAU) has commenced treatment of concentrate from the company’s Efemcukuru mine in Turkey after commissioning a concentrate treatment plant.
European Goldfields Ltd. (EGU) shares were halted on the Toronto Stock Exchange after a report the developer of mines in Greece has been approached about a takeover by Eldorado Gold Corp. (ELD).
Eldorado Gold reported Thursday that proven and probable gold reserves have increased to 18.7 million ounces, as measured and indicated gold resources increased to 22.9 million.
However, gold production declined from 164,928 ounces during the first-quarter 2010 to 148,577 ounces during the first-quarter 2011. Nevertheless, gold revenues were up 14% during the first quarter due to higher sales prices this year.
The group says it expects the Chinese mine to ramp-up to full production quickly
Orezone Gold Corporation (ORE:TSX) is pleased to announce that it has completed the sale of its Sega Gold Project ("Sega") in Burkina Faso to Cluff Gold plc (Cluff) for total consideration of approximately US$26.5M.