TORONTO (miningweekly.com) – The TSX-listed stock of Canadian low-cost gold producer Eldorado Gold this week rallied after the company received a positive environmental-impact assessment (EIA) decision from the Environment and Urbanisation Ministry of Turkey for its proposed Kisladag mine expansion.
The stock on Friday closed 5.76% higher at C$8.08 apiece, ending the week up 6.32%.
Vancouver-based Eldorado, which has operations in Turkey, China, Greece, Romania and Brazil, said the EIA approval would allow it to expand the Kisladag openpit mine throughput from its current rate of 12.5-million tonnes a year to a maximum of 35-million tonnes a year, should the company decide to proceed with expansion plans.
Eldorado plans to provide an update regarding the potential Kisladag expansion alternatives along with its second-quarter operating and financial results at the end of July.