Eldorado Gold Corporation and its wholly-owned subsidiary Hellas Gold announced on Wednesday that they have completed the 680-million-euro financing for the development of the Skouries project in Northern Greece, ANA reports.
The funding deal is structured to provide 80% of the funding required to complete the project, with the remaining 20% to be funded by Eldorado Gold. Hellas contributed 31.2 million euros (approximately 34.0 million US dollars) from January 2022 through the end of March 2023 on early works activities at Skouries, which will be applied as a credit towards Eldorado’s equity commitment, according to the terms of the funding agreement.
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