GREECE

Eldorado's Greek, Romanian assets will help grow gold output 160%

Eldorado Gold's updated guidance stresses the integration of newly acquired assets in Greece and Romania to help achieve 1.7 million ounces of gold production company-wide in five years.

Canadian Eldorado's gold production keeps growing

Canadian miner Eldorado Gold (TSX:ELD) (NYSE:EGO), which recently closed its acquisition of European Goldfields, expects its yearly gold production to touch 1.7 million ounces within five years as it brings new mines into production.

European Goldfields and Eldorado tie-up: At last investors can cheer news about Greece

The $2.5 billion deal saw European Goldfields add 6.4% in afternoon trade on Tuesday while Eldorado gained 6% to bring their combined market value to $10 billion.

Just how tricky is the Greek bond deal?

To avoid Greece defaulting and exiting the Euro, European Central Bank officials have been trying to square a circle. They are funding a bankrupt country, avoiding expansionary monetary policy that the Germans hate and trying to avoid crippling haircuts to holders of Greek debt.

Hellenic Copper utilising Hitachi fleet in Cyprus

Two large Hitachi excavators are bringing advanced technology to an ancient copper mine in Cyprus. The ZX870LCR-3 and ZX470LCH-3 have been working at the site, which dates back more than 4,000 years, since early 2011. Cyprus was the main source for the…

Manitoba's Gossan Resources investing in Greece, undertaking private placement

Gossan Resources Limited (TSX VENTURE:GSS)(FRANKFURT/FREIVERKEHR & XETRA:WKN 904435) has signed a Letter of Intent (LOI) with East Mining Company SA ("EMC") of Athens, Greece, to investigate and examine the possibilities of acquiring mineral projects within Europe, on a non-exclusive basis, and initially to assess three potential projects in Greece. Additional projects may be pursued.

Qataris are eyeing Greek gold reserves

Qatar is joining the field of gold mining in this country after a recent agreement by the Qatar Investment Authority to fund the Hellenic Gold investment in Halkidiki, northern Greece.

Qatar Holdings Invests $1B in Greek Mining Company

In what seemed to be a major breakthrough for debt-ridden Greece, it had gained trust from a Qatar-based holdings firm to invest in one of its gold-mining projects. On Saturday, Qatar Holdings LLC signed a $1 billion investment into European Goldfields

Greenpeace says coal-fired energy costs ailing Greece

ATHENS (AFP) – Cash-strapped Greece could save billions of euros in environmental and health costs by abandoning a reliance on coal-fired electricity production, Greenpeace activists said on Thursday. "At a time when Greek citizens are making

European Goldfields ups total resource and reserve estimates

European Goldfields has raised its total resource and reserve estimates due to revised figures from its Skouries and Olympias projects in Greece, prompting a rise in its shares.

Gold hits new record as further US stimulus appears on the horizon

Gold futures added to record levels set earlier on Tuesday as Europe finance ministers consider allowing Greece to default on some of its debt, Italy's borrowing costs soar and US Federal Reserve minutes indicate the possibility of additional financial stimulus.

Gold is considered a hedge against inflation and further quantitative easing could flood financial markets with cheap money as it did in the previous round – QE2 – when US monetary authorities injected some $600bn to drive down interest rates. Gold for August delivery on the New York Mercantile Exchange was trading at $1,568.40 an ounce in late trade after settling at a record $1,562.30 an ounce earlier.

FT: Gold miner gets green light to mine in Greece

Debt-saddled Greece has a new revenue source in the form of two gold mines that have been approved by the country's environment minister, George Papaconstantinou, FT reported on Friday.

The newspaper said that European Goldfields has received final approval to build two large gold mines in northern Greece, named Olympias and Skouries, near Thessaloniki. The AIM-listed miner plans to spend $500 million to build the mines and a total of 1.3 billion euros throughout the life of the mines.

Greece’s central bank increases its gold reserves

Greece’s central bank increases its gold reserves Greece’s central bank increased its gold reserves marginally in May, choosing not to sell some of its vast holdings as efforts continued to trim the public debt. The International Monetary Fund’s

Australia shares seen climbing on Greek hopes

Australian stocks are set to open higher on Tuesday, following a firm finish on Wall Street, on growing optimism that Greece will avoid a debt default.

Stock index futures rose 1.1 percent to 4,491.0, a 29.2-point premium to the underlying S&P/ASX 200 index . The benchmark fell 1 percent on Monday.

FT: Greek savers rush for gold

The Financial Times reports Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks.

Pledges by socialist prime minister George Papandreou that his government would “save the country” have been widely discounted by the public.

Eldorado Gold achieves two key permitting milestones in Turkey

Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO)(ASX:EAU) ("Eldorado" the "Company" or "we") is pleased to announce that Eldorado, through its 100% owned subsidiary Tuprag Metal Madencilik Sanayi ve Ticaret ("Tuprag"), has received its Trial Operating Permit ("Permit") at the Efemcukuru Gold Project in Izmir and the supplementary Environmental Impact Assessment Positive Certificate ("EIA") at Kisladag Gold Mine in Usak.