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Eldorado Gold Receives Arbitration Notice from Greek Government
Eldorado Gold Receives Arbitration Notice from Greek Government Canada NewsWire ...
About this update from Eldorado Gold Corporation
[{"type":"text","content":"\n\n\n\nEldorado Gold Receives Arbitration Notice from Greek Government\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 14, 2017\n\n\n\nTSX: ELD  NYSE: EGO                                                                           \n\n\n\nVANCOUVER, Sept. 14, 2017 /CNW/ - Eldorado Gold Corporation (\"Eldorado\" or the \"Company\") advises that its Greek subsidiary, Hellas Gold S.A. (\"Hellas Gold\"), today received a formal notice from Greece's Ministry of Finance and Ministry of Environment and Energy (the \"Ministries\") initiating Greek domestic arbitration. This arbitration is pursuant to the provisions of the Contract between the Greek State and Hellas Gold and in it the Ministries have named its nominee to the three person arbitral panel.  \n\nThe arbitration notice alleges that the Technical Study for the Madem Lakkos Metallurgical Plant for treating Olympias and Skouries concentrates in the Stratoni Valley, submitted in December 2014, is deficient and thereby is in violation of the Transfer Contract and the environmental terms of the project. The Company is highly confident that the subject Technical Study is robust and consistent with the Transfer Contract, the Business Plan and the approved environmental terms of the project.\n\nGeorge Burns, President and Chief Executive Officer of Eldorado Gold said, \"Eldorado has always sought a constructive relationship and dialogue with all levels of the Greek government. Despite the Greek government's refusal to engage with Eldorado, we believe that this matter could still be resolved through good faith negotiations. We again invite the Ministry to engage with us for such purpose. Nevertheless, we will vigorously ...