Scientists use gold to improve microlaser technology

By attaching gold nanoparticles to the surface of a microlaser, scientists at the University of Southern California Viterbi School of Engineering demonstrated that it is possible to create frequency combs that take up less space and require 1000 times less power than current industrial comb technology.

Frequency combs are large and highly energy-consuming devices that can create a rainbow of light from a single colour and are generally used to improve cybersecurity, GPS systems and the detection of toxic chemicals.

In order to create systems that could enable residential or portable applications, the USC researchers decided it was important to figure out how to reduce both the size of the device and the power requirements for wavelength generation. They found their answer in gold specks 1/100,000 the size of a human hair.

By attaching gold nanorods to the surface of a single microlaser, the research team led by Andrea Armani, a professor in the Mork Family Department of Chemical Engineering and Materials Science, was able to run lab tests which showed that frequency combs can function with only milliwatts of input power, which decreases the system’s footprint and takes the technology from the lab to real-world applications.

The way it works is that the interaction of the light from the microlaser with the gold particles results in many additional wavelengths being generated, a process that is further improved by a polymer coating on the nanoparticles.

“The role of the gold nanorods is to increase the intensity of the light circulating in the device,” co-lead author Vinh Diep said in a press release. “The higher-intensity light can then interact with organic molecules on the surface of the gold to generate other wavelengths of light. This combined effect allows for the comb generation to begin at a much lower power than the traditional pulsed-laser approach.”

Diep also explained that by using the gold nanorod coating, they observed a comb that can span over a wavelength range of 300 nanometers. Without the gold nanorods, a comb could not be generated at the same power.

“Demonstrating a large range shows the device’s strong potential for applications in developing a portable chemical spectroscopy system, where the chemical signal only occurs at a specific wavelength, and the accuracy is dependent on the light source,” the group of researchers concluded.

 

source: mining.com,Valentina Ruiz Leotaud

photo by Gerd Altmann, Pixabay.

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Eldorado mine arbitration to start in September

Greece plans to start an arbitration process this month to settle its differences with Canada’s Eldorado Gold Corp over its gold mine development plans in northern Greece, its energy minister said on Thursday.

Greece had previously planned to start the process last month. “We have decided to resort to arbitration to stop the tug of war which has been going on for many years and have things cleared up,” Energy Minister Giorgos Stathakis told Greek state television.

Stathakis said the arbitration process will begin on September 15 and will last three months. Eldorado is developing the Skouries and Olympias projects in northern Greece, where it also operates the Stratoni mine. Skouries has been a particular flash point with the authorities, with differences lasting for years over testing methods applied to comply with environmental regulations. [Reuters]

source: ekathimerini.com
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Eldorado’s condolences for the tragic accident

With a press release dated August 29, 2017, Eldorado Gold expresses its condolences for the tragic accident in Skouries. CEO George Burns has also a few words to say.

Eldorado Gold (“Eldorado” or the “Company”) today regrets to report that on the morning of August 28, 2017, during tree cutting operations at the Skouries Project in Greece, a contractor employee was struck by a branch from a falling tree resulting in fatal injuries. An investigation is underway.

“Our deepest condolences and support go out to the individual’s family, friends and colleagues at this time,” said George Burns, Eldorado’s President and Chief Executive Officer. “Safety is our top priority at Eldorado Gold and we are committed to the well-being of our employees and contractors on all of our sites.”

 

source: eldoradogold.com

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Greece’s Syriza revives radical policies in effort to placate base

“Eldorado Gold, facing the threat of a lengthy arbitration process with the government over permits to complete a gold-mining and processing plant at Skouries in northern Greece, warns that 1,200 jobs are at stake in an area of high unemployment. Production at Skouries was due to start this year but has now been pushed back to 2020”

After the reforms came the backlash.
Greece’s cabinet may be focused on implementing economic reforms agreed in return for an €86bn third international bailout but the government has also revived some of its radical polices in an effort to placate its core supporters, fearful that the leftwing party has gone soft under pressure from the bailout monitors.
 
Measures adopted last month by the Syriza government of Alexis Tsipras, prime minister, take aim at the party’s traditional enemies: high-earning lawyers and doctors, foreign-trained academics and private investors from abroad.
 
A tax squeeze on Greek professionals is being tightened, new legislation on universities rolls back reforms aimed at boosting academic standards, and the authorities are further delaying a €1.5bn gold extraction project by Canada’s Eldorado Gold, the country’s largest foreign investor.
 
Meanwhile, self-described anarchists with links to Syriza’s far-left faction have staged attacks on business premises and public buildings, smashing windows and throwing paint in scenes that recalled street protests early in the Greek crisis. Police made only a few arrests, and no case has so far come to court.
 
Nikos Voutsis, parliamentary speaker, shrugged off an incident last month in which members of Rubicon, an anarchist group, forced their way into the main courtyard of parliament demanding the release of a convicted terrorist. “Where violence [against persons] isn’t involved such events should be handled with tolerance,” Mr Voutsis said.
 
Analysts say the Syriza government is keen to reclaim its leftwing credentials after successfully completing a second bailout review, winning praise from its creditors, the EU and the International Monetary Fund, and securing the disbursement of a much-needed €8.5bn aid tranche.
 
In a move that underlined recovering confidence in Greece’s prospects, Athens returned to the sovereign debt market in July for the first time in three years with a €3bn bond issue. The economy is set to grow this year by 1.5 per cent, its best performance since 2007.
 
As part of the bailout terms, the government also agreed to implement a drastic reduction in the income tax threshold next year and make additional cuts to pensions, which have shrunk by 50 per cent during the crisis. These moves have helped bolster support for the opposition. In opinion polls, the conservative New Democracy party holds a double-digit lead over Syriza. “It’s become important for Syriza to remind its constituency that it still has a radical activist agenda, that it hasn’t gone soft under pressure from the bailout monitors,” says Professor Aris Hatzis, a University of Athens law professor and political commentator.
 
The new measures, while disruptive, appear to have been chosen with the aim of avoiding strong negative reaction from the EU and International Monetary Fund experts that oversee the reform programme, Prof Hatzis added. “They’re all in areas that aren’t exactly priorities for the creditors, at least in the short term.”
 
Earlier this year, the finance ministry imposed new regulations on Greek professionals, who are accused of being chronic tax evaders. These included paying a full year’s income tax in advance and making significantly higher social security contributions.
 
Under the provisions, the measures were backdated to 2015 in a move that would make lawyers, doctors and business consultants earning more than €75,000 a year pay more than 70 per cent of their annual income in taxes and social security. Some professionals doubt whether such high levies, seen by many as a punishment for laxity shown by previous governments, can be sustained.
 
“The market for legal services has shrunk significantly during the recession and so have lawyers’ pensions,” said Evangelos Kalafatis, a tax lawyer. “If these new taxes aren’t rationalised, working will no longer be attractive to many senior members of the profession.”
 
Greek academics say they are bitterly disappointed by a new law that reverses a 2011 reform of the university system, which passed by an overwhelming parliamentary majority. Students will again be allowed to postpone sitting final examinations indefinitely, and will also have voting rights at elections of university administrators.
 
The law also provides incentives for professors to spend their entire careers in one local institution, bans fee-based postgraduate courses taught in English that would attract foreign students and restores university “asylum” which prevents the police from entering a university campus.
 
“It’s a huge setback,” said Anna Diamantopoulou, a former EU commissioner who pushed through the law while serving as education minister. “We modernised university education and made it international . . . Now the universities will again be a battleground for domestic politics and those who can will go abroad to study.”
 
Eldorado Gold, facing the threat of a lengthy arbitration process with the government over permits to complete a gold-mining and processing plant at Skouries in northern Greece, warns that 1,200 jobs are at stake in an area of high unemployment. Production at Skouries was due to start this year but has now been pushed back to 2020.
 
“The key issue for Greece is that the benefits from these investments should have accrued already,” said George Burns, Eldorado’s chief executive.
 
Eldorado’s travails in Greece are often cited as a disincentive for investors worried about bureaucratic delays and the country’s tangled legal system. While Syriza lawmakers from the Skouries region claim that goldmining will cause irreversible environmental damage, the company’s proposals for the project have been upheld in 18 cases heard by expert judges at the council of state, Greece’s highest administrative court.
 
source:  The Financial Times Limited 2017, 29/8/2017 Kerin Hope, Athens
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Future of Halkidiki gold mines put in doubt

The Greek subsidiary of Canada’s Eldorado Gold, Hellas Gold, is set to put its investment in mining projects in Halkidiki on ice following the government’s decision to refer its dispute with the company to arbitration.

Hellas Gold announced on Wednesday that it has suspended the inauguration of the facilities at the Olympias mine in northern Greece ‘until further notice.’

The dispute between the mining firm and the government relates to the operating licenses for the Olympias and Skouries mines, which were due to be issued this January.

The arbitration process is due to begin at the end of August but it is not known how long it will take to be completed.

Meanwhile, the union representing some 2,400 people employed in the projects said that they plan to take action to protect their jobs.

 

source: www.ekathimerini.com

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Greece to kick off arbitration process over Eldorado Gold’s project

Eldorado Gold (TSX:ELD)(NYSE:EGO) will face Greek officials in an arbitration court later this month as the country’s government sees the move as the preferred way to settle its differences with the Canadian miner.

The country’s Energy Minister George Stathakis met representatives from Eldorado’s local unit Hellas Gold in Athens on Wednesday to discuss the process and issues related to the miner’s projects in northern Greece.

According to the ministry’s statement (in Greek), the process is scheduled to begin at the end of August, though the company noted it has yet to receive formal notice of the looming mediation.

Licensing for Olympias is in the final stage, while permits for Skouries — the most contentious one — are pending.

“To be clear, we have not yet received formal notice of arbitration and permits applied for remain unissued,” Eldorado’s President and chief executive George Burns said in a statement. “We continue to evaluate all capital spending and development timelines at our projects in Greece.”

The Vancouver-based company, which already operates Stratoni mine in the country’s north, has been trying to develop the Skouries and Olympias projects for years, but local opposition and an ongoing back-and-forth with authorities have delayed progress.

The biggest differences between the company and Greek authorities revolve around testing methods applied to comply with environmental regulations at Skouries, whose final permits are still pending. Last week the company said production is now targeted for 2020, adding it had reviewed the project’s capital spending.

Licensing for the company’s Olympias project is in the final stage and Eldorado had said it expects to begin production at the gold, silver, zinc and lead mine before year-end.

 

source: mining.com, Cecilia Jamasmie

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Little change to Iranian oil imports in Greece

Iran’s crude oil exports in July are set to fall 7 percent from this month’s three-month high, mainly due to a decline in exports to Europe, a person with knowledge of the Middle Eastern country’s tanker loading schedule said.

In Europe, main buyer Turkey is lifting 194,000 barrels per day this month, down 27 percent from June. Italy is loading nearly 100,000 barrels per day, down from 133,000 bpd last month.

Greece and Spain are each lifting nearly 65,000 barrels per day this month, little changed from June, the source added.

[http://www.ekathimerini.com, from Reuters]

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Eldorado issues response to Greek ministry

Eldorado Gold Corp responded to a statement posted on the Greek Energy and Environment Ministry’s website on Thursday about seeking arbitration over the Canadian company’s gold mine investment, saying it has not received formal notification or any details of any arbitration proceedings.

It stated that “at this time, Eldorado’s operations and development projects are continuing to plan.”

The company underscored that it has consistently received positive decisions from Greece’s Council of State in 18 cases confirming the integrity of its permits.

[Reuters]

SOURCE: ekathimerini.com

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Gov’t to seek arbitration over Eldorado investment

Greece will seek arbitration to settle its differences with Canada’s Eldorado over a gold mine investment, the Energy Ministry said on Thursday.

Energy Minister Giorgos Stathakis has requested that the state’s legal advisers prepare for the arbitration process to begin, the ministry said.

Vancouver-based Eldorado is developing a gold mine project in northern Greece but differences have persisted for years with Greek authorities over testing methods applied to comply with environment regulations.

Greece says it wants to make sure that Eldorado’s Greek unit Hellas Gold, which is developing the project, respects its contractual obligations.

“The aim is to safeguard public interest by developing the region’s mineral resources in line with the existing environmental terms and standards,” the ministry said in a statement.

A ministry official told Reuters last week that the three-member arbitration panel would include a government-selected judge, an Eldorado-selected judge and a third selected by the president of Greece’s Supreme Court.

Its decisions would be binding, but could be subject to further appeal.

[Reuters]

SOURCE: ekathimerini.com

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Exxon confirms interest in Greece

ExxonMobil’s interest in Greek hydrocarbons was confirmed in meetings on Friday that representatives of the oil multinational had in Athens with Hellenic Petroleum (ELPE) and leading Greek government officials.

Representatives of France’s Total, which is ELPE’s partner in the concession of Block 2 in the Ionian Sea, also attended the meetings with ELPE, Deputy Prime Minister Yiannis Dragasakis and Energy Minister Giorgos Stathakis.

ExxonMobil officials had traveled to Athens to confirm their participation in the Ionian concessions through acquiring a stake in ELPE, and also to sign a strategic cooperation agreement for a joint claim on other areas of the country that could hold large quantities of hydrocarbons, with the sea off Crete being a priority.

The US oil giant appears to have already reached an agreement with ELPE and Total, and its objective on Friday was to sound out the government regarding its support for the program to utilize the country’s hydrocarbon reserves, which is vital for ExxonMobil before it advances to the agreement-signing stage.

Sources say ExxonMobil will expand its plans to creating a joint venture with ELPE – with the US firm acting as the operator – through which other possible blocks will be targeted.

source: Chryssa Laggou,  ekathimerini.com

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5 economic benefits of gold mining investment in Greece

The contribution of mining to Greece’s economic growth and development has a history as old as the civilization itself. Since 1,000 B.C., Greeks have been using their mineral resources to build cities, establish trade networks and expand empires.

Revenues from the high-grade silver mines of Laurion, south of Athens in Attica, financed the emergence of Athens as a cultural, economic and military capital in the 5th Century B.C. Further north, the gold deposits of central Macedonia and Thrace funded Alexander the Great’s conquest east and the creation of an empire that, at its peak, stretched across three continents.

Today, the Olympias and Skouries mines that Eldorado Gold is developing in Halkidiki have the potential to make Greece a leading gold producer in Europe.

“The benefits these projects are estimated to generate for local communities, municipal and national governments and the Greek economy are significant ,” says Eduardo Moura, Vice President and General Manager of Eldorado’s operations in Greece. “With mine lives of approximately 25 years each, we see great potential for these projects to contribute to Greece over the long term.”

Here are five benefits Greece is already realizing from Eldorado’s investment in Halkidiki:

1. Jobs

In a country where unemployment exceeds 23%, Eldorado has created more than 2,000 new jobs in the past five years. We are proud that 87% of our employees in Greece are hired from local communities.

We now have approximately 2,400 employees and contractors, and we estimate another 3,000 direct and indirect jobs will be created when Olympias and Skouries reach full production.

Employees take a break at our Olympias project.

2. Taxes and wages

Our projects have the potential to sustain generations of Greeks in family-supporting jobs. In the past three years, we have paid approximately US$100 million in employee wages and benefits. We estimate we will pay more than US$1.5 billion in salaries and benefits over the course of our operations.

In the same timeframe, we will also generate more than US$1 billion in taxes for the Greek government.

3. Community investment

Eldorado currently contributes about €3 million annually to local infrastructure improvements, healthcare accessibility and civil services. Eldorado’s support has helped build new water supply networks, repave roads, update biological treatment plants, and rejuvenate local spaces. Eldorado also supports the Paleohori Healthcare Centre in Halkidiki. Contributions have helped modernise facilities and equipment and with other day-to-day operating costs.

We estimate Olympias and Skouries could contribute approximately US$80 million towards local community and infrastructure projects over the course of their 25 year mine lives.

Greek Orthodox Church in the village of Paleohori, Greece

4. FDI revenues

With foreign direct investment (FDI) in Greece 57% lower in 2015 versus 2014, Eldorado’s projects are a valuable source of revenue for the Country. In 2015, our investment of more than US$200 million accounted for almost 20% of FDI in Greece. (FDI in Greece in 2015 was US$1.1 billion according to the OECD).

With plans to invest over US$1 billion in the 25 years Olympias and Skouries will be in operation, Eldorado will continue to be one of the larger foreign investors in Greece.

5. Export revenues

Greek exports will also be positively impacted by the metals mined from Olympias, Skouries and Stratoni. When in full production, annual export revenues of approximately US$450 million per year (depending on metal prices) would help Greece to pay for the goods and services it currently imports. Mineral exports will also help to reduce Greece’s current trade deficit.

Stratoni processing and export facility

source: http://blog.eldoradogold.com

 

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Eupalinos Tunnel, a Masterpiece of Ancient Engineering Opens to Public

The Tunnel of Eupalinos, one of the most extraordinary monuments of craftmanship and construction (1,036 metres carved inside the mountain that towers over the town of Pythagorio on Samos) will be very soon accessible.

The Culture Ministry announced that the main part of the maintenance, restoration and promotion project of the Eupaline Tunnel that was approved by the Ministry, namely the tunnel in which were the clay water pipes. “The acquaintance with the Eupaline Tunnel is a life experience,” said Culture Minister Lydia Koniordou.

The Eupalinian aqueduct was designed and built in 550 BC by the engineer Eupalinos from Megara when Samos was ruled by tyrant Polycrates. It continued to supply the ancient town of Pythagorio with fresh water for 1,100 years. Eupalinos used what are now well-known principles of geometry, which were codified by Euclid several centuries later. With a length of 1,036 metres (3,399 ft), the Eupalinian subterranean aqueduct is famous today as one of the masterpieces of ancient engineering.

Eupalinos used mathematics and geometry not only to align the excavations before they met, but also to “manipulate” the alignment of the tunnel in order to avoid adverse geological conditions. Mutatis mutandis, the basic principle behind the method of Eupalinos, has been used again long after the Renaissance of Europe (early 18th century), and it is still in use in modern tunneling.

The Eupalinian aqueduct or ditch, is cited by Herodotus (Histories 3.60), without whom it would not have been discovered.

In 1992, the Eupalinian ditch was included in UNESCO’s world cultural heritage list.
(source: ana-mpa)

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Greece to sell coal-fired plants, mines as part of bailout deal

Greece will sell its coal-fired plants and coal mines equal to about 40% of its dominant power utility Public Power Corp’s (PPC) coal-fired capacity, as part of a reform deal the government reached with its foreign creditors.

Athens needs the funds urgently, as it needs to repay 7.5 billion euros in debt maturing in July.
The move aims at opening the energy market in Greece, which is second only to Germany in terms of lignite coal production in the European Union.

Athens will begin testing the waters for such sale in November, with the goal of wrapping up the sale by June 2018, a government official told Reuters.

The government needs the funds urgently, as it needs to repay 7.5 billion euros in debt maturing in July.

Coal is currently Greece’s single most important local energy source, according to World Energy Council and PPC is the nation’s largest producer of the fossil fuel, with the right to exploit 63% of known reserves.

The state-own company is also the country’s main electricity provider, producing 95% of Greece’s total electricity supply.

Cecilia Jamasmie, 2/5/2017, http://www.mining.com

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Eldorado Reports Olympias Phase II Improved Concentrate Sales Terms and Commissioning on Track

VANCOUVER, March 28, 2017 /CNW/ – Eldorado Gold Corporation, (“Eldorado” or “the Company”) today reported that it has received multiple tenders for significantly better concentrate sales terms at Olympias Phase II (“Phase II”), where wet commissioning at the project is currently underway.

Improved Concentrate Sales Terms
The Company is pleased to announce that it has received multiple tenders for significantly better concentrate sales terms for material produced beyond 2017. Under the new sales terms, gold payability rates have increased from 58% up to a maximum of 71%, which is expected to result in an increase of approximately 15,000 ounces of payable gold production per year.  Annual Phase II production is now estimated to be approximately 85,000 ounces of gold (from 72,000 ounces per year previously) plus approximately 55,000 ounces of gold equivalent production.

Commissioning
The construction of Phase II is substantially complete and commissioning has commenced. Addition of low grade ore to the crushing circuit is expected next week. Pre-commissioning of the main flotation plant equipment is underway and ore will be introduced in April. Deliveries of first-fill reagents, grinding media, critical and operational spares are on schedule to support second quarter pre-commercial production.

Underground
Mined ore has been moved to the surface stockpile adjacent to the crusher for commissioning of the processing facility. Underground development is well positioned to support 2017 production guidance with fourteen stopes in ore on nine different levels complete and ready for extraction. Ore mining will begin shortly in both the east and west ore zones using a drift-and-fill mining method.

Phase II Overview
Phase II involves processing ore from the underground at a rate of approximately 400,000 tonnes per year. The new processing facility includes new processing equipment within the pre-existing plant building to produce three concentrates: lead-silver, zinc and gold bearing pyrite-arsenopyrite.  In 2017, the Olympias mine is budgeted to process 267,000 tonnes of ore at grades of 9.6 grams per tonne gold, 3.4% lead, 3.4% zinc and 105 grams per tonne silver.

Paul Skayman, Eldorado’s Chief Operating Officer, commented: “After a lot of hard work by our team in Greece, we are all very excited to now be at this juncture with commissioning and we expect to declare commercial production from Olympias Phase II in the third quarter”.

About Eldorado Gold
Eldorado is a leading low cost gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia and Brazil.  The Company’s success to date is based on a low cost strategy, a highly skilled and dedicated workforce, safe and responsible operations, and long-term partnerships with the communities where it operates.  Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this press release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”,  “is expected”, “budget”, “continue”, “projected”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or information contained in this release include, but are not limited to the Company’s Reported Olympias Phase II Improved Concentrate Sales Terms and Commissioning on Track, including statements or information with respect to: our guidance and outlook, including expected production, projected cash cost, our expectation as to our future financial and operating performance, including estimated cash costs, expected metallurgical recoveries, gold price outlook and our strategy, plans and goals, including our proposed development, construction, permitting and operating plans and priorities, and related timelines.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. 

We have made certain assumptions about the forward-looking statements and information, including assumptions about the geopolitical, economic, permitting and legal climate that we operate in; the future price of gold and other commodities; exchange rates; anticipated costs and expenses; production, mineral reserves and resources and metallurgical recoveries, the impact of acquisitions, dispositions, suspensions or delays on our business and the ability to achieve our goals.  In particular, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this release.

Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.  

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  These risks, uncertainties and other factors include, among others, the following:  geopolitical and economic climate (global and local), risks related to mineral tenure and permits; gold and other metal price volatility; mining operational and development risk; foreign country operational risks; risks of sovereign investment; regulatory environment and restrictions, including environmental regulatory restrictions and liability; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; risks related to impact of the sale of our Chinese assets on the Company’s operations; additional funding requirements; currency fluctuations; litigation risks; community and non-governmental organization actions; speculative nature of gold exploration; dilution; share price volatility; competition; loss of key employees; and defective title to mineral claims or property, as well as those factors discussed in the sections entitled “Forward-Looking Statements” and “Risk factors in our business” in the Company’s  most recent Annual Information Form & Form 40-F. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form filed on SEDAR under our Company name, which discussion is incorporated by reference in this release, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.  Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the U.S.

Except as otherwise noted, scientific and technical information contained in this press release was reviewed and approved by Paul Skayman, FAusIMM, Chief Operating Officer for Eldorado Gold Corporation, and a “qualified person” as defined by Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

SOURCE Eldorado Gold Corporation

Mar 28, 2017

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The Ancient Mines of Samos

In Mytilene, one of the largest villages in Samos, in an area called Koutsodontis, there are 45 caves in the hillside. These are all entrances to Ancient Mines. The lowest caves are 147 meters above sea level, and visitors can enjoy a beautiful view of the valley around Chora when they reach them.

11905402_1166028026746697_8373136490076962702_nAll the entrances are supported by man-made carved columns which bear witness to the accuracy of the studies made before work began, the well-planned layout and the careful construction of each and every entrance in such a way as to keep the mountain above the entrances stable.

For thousands of years, time, wind and rain have ravaged these ancient structures and washed the traces and the sweat of humanity from the carved faces of the columns. So today they stand to be admired, both as works of art and feats of engineering.

Inside one of these entrances there is a hole which leads into the hillside. Explorers have found 8 levels of mining tunnels, all of which are also supported by columns. They also measured the maximum depth as being 70 meters. All the levels are 1 km long.

It is very probable that the history of this place hides many more surprises for us to discover. However there are already reliable reports about its use in the past.

2According to Herman Kienast, an architect with the German Archaeological Institute, former supervisor of the archaeological excavations at the Temple of Hera, and expert on the Tunnel of Eupalinos (or Eupalion Aqueduct), building materials for the construction of the great Temple of Hera and for other buildings in the sanctum area and in the ancient city of Samos (nowadays Pythagorion) were mined here in ancient times.

The engraved pieces of rock which are still visible on the floor of the mine today are undisputed evidence of this mining activity.

The “Samiaka” newspaper also reported that during the 1821 Greek War of Independence this place functioned as a “Nitrate Mine” where a monk named Ignatius manufactured gunpowder using nitrates. Unfortunately, in modern times, the mine has not received attention commensurate with its importance and historical value.

However, it is significant that since 2002 the Greek Ministry of Culture has, following the advice of the Greek Central Archaeological Council, conducted topographic surveys, measurements, and surface research on the area surrounding the ​​quarries. These are being carried out under the supervision of Maria Viglaki-Sofianou, an archaeologist from the 21st Ephorate of Prehistoric and Classic Antiquities, with the cooperation of the architect, Ioannis Mitsoulis (an employee of the same Ephorate). The architect Herman Kienast also takes part in the research on behalf of the German Archaeological Institute.

During recent years, fires destroyed the surrounding forest which had acted as a “protective shield” for the site by stabilising the ground. Today, erosion has affected the soil, and if action is not taken there is a danger that the site will be destroyed.

Recently, the Prefecture and the Municipality of Pythagorion have attempted to clean up the surrounding area. This effort was supported by the Speleological Association of Samos “EUPALINOS”.

This archaeological site, which is unique on a global scale in terms of how deep it reaches into the mountain and its architecture, “is crying out” for us to take an interest in it, to save it and to promote it.

Following a study on landscaping the site made by the Greek Ministry of Culture, all 45 entrances to the quarries can now be visited by tourists. They have been linked by an impressive path which starts from the top of the hill and passes in front of all the entrances until it reaches the north entrance of the Tunnel of Eupalinos and the Springs of Agiadon, the water of which was channelled through the tunnel.

If action taken by the local authorities was coordinated with special studies and was integrated into relevant European programmes, it would be possible to undertake work which would allow visitors to go inside all 45 caves, thereby highlighting another remarkable ancient work of Samos. Speleological Association of Samos “EUPALINOS”

[ΠΗΓΗ: http://my-samos.blogspot.gr/, http://www.samos-caves.gr/, http://www.visaltis.net/, photographs Christos Vasileias, Ιpponax Apollodoros]

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A.Kefalas: €1 bn. of exports and 84,000 jobs in the extractive industry

The sector of extractive-metallurgical industry is a pillar of the regional economy and one of the greatest employers in the country, with international presence and 84,000 employees, as it contributes 3.4% of the country’s GDP with an annual turnover of 6.2 billion euros. 80% of the production is exported, while the value of these exports is over 1 billion euros per year. The great contribution of the mining companies to the Greek Periphery, has been described yesterday in a meeting with journalists by the President of the Association of Mining Companies Mr. Athanassios Kefalas. As he mentioned, the activities of the extractive sector have a significant positive impact on the economy of Attica too, by contributing approximately 2.1 billion euros. The reason for this is that the headquarters and offices of most of the companies of the sector are located in Attica.

The President of the Association of Mining Companies made a particular reference in his speech to the inhibiting factors that hinder the growth of the extractive sector and constitute a barrier. Among others were mentioned “the cumbersome licensing process, both for existing activities and for new investments, bureaucracy, the outdated quarrying law, the social reactions due to the great fear of environmental degradation in combination with the non existence of effective controls, the lack of stable tax and labor legislative framework, and above all the insecurity regarding justice”.

Mr. Kefalas, being invited to comment on the negative attitude of the Greek state in the case of Hellas Gold, argued that there is a bad past, with the licenses creating rivalry and social upheaval. “It is no accident that, when the licensing of a facility begins, the first thing they ask us is what is the opinion of the mayor and of the local community ” he mentioned, and pointed out that gold is not rings and bracelets, but it consists an industrial product that is used by manufactures of mobile (cell) phones, medical instruments (tomography scanners) etc. Mr. Kefalas tried to disprove the view that industries are destroying natural wealth and are harmful to the environment, by pointing out that on the island of Milos, where the facilities of the former S&B are located, where he was a senior employee and where he remains after the strategic merging with the French company Imerys, 63,000 square meters of land will be turned into vineyards, on the initiative of the company. Regarding the effect of the crisis in the sector, he declared that there is no impact on the turnover.

However it is observed that there is an impact on the competitiveness of the Greek companies, due, for example, to overtaxation.

Citing a study of the Foundation for Economic and Industrial Research, he pointed out that next to Attica, the contribution of the sector is quite significant in Central Macedonia too, and amounts to approximately 1 billion euros. Furthermore, 12% of the added value that is created in the Region of Sterea Ellada (740 million euros) is attributed to the extractive sector. This is the case respectively, for approximately 4% of the added value that is created in the Regions of Eastern Macedonia–Thrace (300 million euros), Western Macedonia (130 million euros) and Thessaly (270 million euros), as well as for approximately 3% of the added value that is created in the Region of South Aegean (160 million euros). The contribution of the extractive industry to the added value that is produced in Central Macedonia is also quite important (approximately 500 million euros or approximately 2.2% of the added value of the Region).

Mr. Kefalas referred to the regional effects of the extractive industry on employment which are today particularly important, arguing that in the last years it has been observed that it also contributes to the internal migration, as more and more young people are moving to islands and areas where respective activities take place.

http://www.newmoney.gr/, By Marianna Tzanne, 07/06/2016

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Eldorado Gold: Skouries Technical Study approved, construction to recommence

VANCOUVER, May 9, 2016 /CNW/ – Eldorado Gold Corporation (“Eldorado” or the “Company”) confirms that Hellas Gold S.A., a Greek subsidiary of Eldorado, has received from Greece’s Ministry of Energy and Environment (The “Ministry”) the approval of the updated Technical Study for the Skouries Project in Halkidiki, Northern Greece. The approval of the Technical Study enables Hellas Gold to recommence construction activities at the Skouries Project site, which were suspended in January of this year (see news release dated January 11, 2016). Paul Wright, President and Chief Executive Officer of Eldorado, commented: “We are all very pleased with the receipt of this approval and greatly encouraged by the ongoing interaction between Hellas Gold and the Ministry and its technical services. This constructive engagement has contributed to other recent approvals including the Skouries Building Permit (February 2016), and the Olympias Installation Permit (March 2016). I believe there now exists a greatly improved shared understanding, appreciation and alignment between the Company and the Ministry in regards to the substantial benefits to be gained by the Greek society and economy through the collaborative responsible development of mineral resources in Greece. We look forward to working together with the Ministry to advance the Skouries and Olympias Projects for the benefit of all stakeholders.”

source: eldoradogold.com, May 09, 2016

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Greek Government Grants Eldorado Gold Permit for Olympias Mine

The Greek government has granted Hellas Gold, a subsidiary of Canada’s Eldorado Gold, a license for the Olympias mine in northern Greece.

The company made the announcement on Tuesday, after Greece’s Environment and Energy Ministry gave the mining company the long-awaited permit.

“The project can now continue so that from the first quarter of 2017 the ore that will be produced at the mine will be processed at the Olympias facility,” Hellas Gold said in a statement.

Greece’s government had revoked Eldorado’s permit in August citing environmental concerns, the Council of State, the country’s top administrative court, annulled the government’s decision in January.

The Canadian company has been in acrimonious dispute with Environment and Energy Minister Panos Skourletis, who in January suspended work at its Skouries gold mine, one of the four projects the company has in Greece.

The permit allows Eldorado to set up a processing plant in Olympias, which is crucial for the development of the mine.

The company has allocated 155 million dollars, or about two-thirds of its total development budget for 2016, to develop the Olympias project.

Currently, the company employs 2,000 workers in an area with an unemployment rate above 30 percent.

source: greekreporter.com, By Philip Chrysopoulos

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Eldorado confirms commitment to its investment in Greece

Eldorado Gold has said it is determined to stick to its investment in Greece in spite of its decision to write down its Greek assets.

“Based on our long-term planning, we remain committed to the investment and the assets of the company in Greece and the expected benefits for the company’s shareholders,” Eldorado’s chief executive officer, Paul Wright, stated in the context of the announcement of the firm’s provisional financial results for 2015 and the estimates for 2016 on Monday.

Sources of subsidiary Hellenic Gold told Kathimerini that the asset write-down does not mean the parent company wishes to leave Greece.

source: ekathimerini.com, 27/01/2016

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