Eldorado Gold Confirms Filing of Application for Payment in Greece
Eldorado Gold Corporation Ordinary Shares (EGO)
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Source: PR Newswire
TSX: ELD NYSE: EGO VANCOUVER, Sept. 18, 2018 /PRNewswire/ - Eldorado Gold Corporation ("Eldorado" or "the Company") confirms that its Greek subsidiary, Hellas Gold S.A. ("Hellas Gold"), has filed an Application for Payment (the "Application") with the Hellenic Republic (the "Greek State"). The Application requests payment of approximately €750 million for damages suffered by the Company arising from delays in the issuance of permits for the Skouries project, including damages for out of pocket costs and loss of profits. The Application is a non-judicial request for payment and does not initiate legal proceedings.George Burns, Eldorado Gold's President and CEO said, "The Application represents a good-faith attempt to resolve the matter with the Greek State as it relates to costs incurred resulting from permit delays to our Skouries project. Eldorado has always acted in a manner consistent with finding a mutually-agreeable solution to responsibly developing Skouries. We hope that thi
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