 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - Eldorado Gold (TSX: ELD) (NYSE: EGO) today announced the closing of the previously announced bought deal offering of 10,400,000 common shares at a price of C$13.00 per common share for gross proceeds of approximately C$135 million.
The company said that proceeds from the offering will be used to fund growth initiatives across the global portfolio, including some not currently contemplated within the company’s five-year plan, as well as for general corporate and working capital purposes.
Eldorado’s projects that are not currently included in its five-year plan include the development of the Perama Hill project in Northern Greece and the expansion of the processing plant at Olympias.
In addition, in Canada, with a maiden reserve expected next year at the company’s Ormaque discovery, Eldorado expects to undertake additional trade-off studies to determine the optimum approach to incorporate it into the plans.
Moreover, in Türkiye, the company has a number of opportunities, including conversion of inferred resources at Efemçukuru and early-stage exploration targets that have the potential to add to a production profile.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece.
|
| Red 5 reports third consecutive month of record gold production at King of the Hills |
