Canadian Mining Journal

News

MERGER: Eldorado, Integra shareholders approve combination



Eldorado’s flagship Kisladag gold mine in Turkey. (Credit: Eldorado Gold)

VANCOUVER – Eldorado Gold and Integra Gold jointly announced on July 10 that their respective shareholders had approved the arrangement between the two companies, as has the Supreme Court of British Columbia. Integra will become a wholly owned subsidiary of Eldorado.

Eldorado has producing mines in Turkey, Greece and China plus development projects Romania, China, Greece and Brazil. The company produced 486,025 oz. of gold in 2016 as well as copper, lead and silver.

Integra’s flagship property is the Lamaque advanced gold exploration project at Val d’Or, Que. Bulk sampling is planned soon from the Triangle zone where the indicated resource is 1.15 million tonnes grading 8.65 g/t gold and containing 318,750 oz.

Eldorado president and CEO George Burns said, “This is a very important transaction for Eldorado, and we are pleased with the votes of support from Integra shareholders. Eldorado is looking forward to expanding our growing business to Canada. Our experience in building and operating mines, combined with the experience from our new team in Quebec, will enhance our long term growth profile and value proposition for all stakeholders.”

More information about either company is available on their websites, www.EndeavourGold.com or www.IntegraGold.com.