Major Miner ‘Divesting’ Out of China – CEO Explains Eldorado’s Move
Thursday, December 11, 2014 at 04:41PM
Gold Prices

 

Eldorado Gold has aggressively pursued building mines in ‘tricky’ jurisdictions – in particular China.

But right now, Eldorado Gold is looking to restructure its ownership of the Chinese assets.

It is planning to partially divest itself of its Chinese assets, placing them into a new company listed in China, and partially owned by new Chinese investors.

Eldorado Gold Corp. is currently the fourth largest holding of the Sprott Gold Miners ETF (NYSE: SGDM). As of December 11, 2014, SGDM had a 5.04% weighting in Eldorado Gold, which is subject to change. For more information and disclosures, please visit www.SprottETFs.com. Our affiliate, Sprott Asset Management LP, is the sub-advisor to the Sprott Gold Miners ETF.

Paul Wright became CEO of Eldorado in 1999. He joined me to discuss Eldorado’s partial divestiture of its Chinese mines and projects.

What he said is useful for investors who are looking at opportunities outside the US and Canada.


What is Eldorado’s plan for its Chinese assets?

Read more...

 

The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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