#ElDorado #Gold $EGO & #Greece Coming to Terms

Eldorado Gold and the Greek government have signed a revised investment agreement covering Eldorado's assets in northern Greece, paying the way for the potential development of the Skouries project and expansion of the Olympias mine and the Stratoni/Mavres Petres mines and facilities in the country, collectively known as the "Kassandra Mines".

 

In 2017, Eldorado Gold halted all operations in the country due to  government delays in issuing permits for Skouries and Olympias, two of the company's key assets.

 

The deal will allow the company to finish construction at Skouries and transition the project into production. It would also help it expand production at Olympias gold-silver-lead-zinc mine to 650'000 tonnes a year. The revised plan covers upgrades to the port facilities at Stratoni to allow for bulk shipment of concentrates and boost of exploration work Mavres/Petres deposit, part of the company's Stratoni project.

 

Eldorado Gold is continuing to evaluate financing options for Skouries, which the company has previously indicated would likely include a partnership. 

Once restarted, Eldorado expects to complete construction in approximately 2.5 years. Skouries is a gold-copper porphyry deposit estimated to produce 140,000 ounces of gold and 67 Mio. pounds of copper per year with an initial mine life of 23 years. Plant construction is 50% complete.

#Platinum has clearly broken out. $PPLT

Get ready for an explosive move in #Platinum!

________________________

bit.ly/MasterMetalsCharts

Here’s a #SilverBug’s view of the #SilverSqueeze $SLV $PSLV

The main issue with the COMEX is that, on average, they allow sales of 200x daily production almost every day. The COMEX was setup to allow hedging of production. You know, you are a wheat farmer and you want to hedge your production. Well, for most commodities, this is 125% daily production. Yesterday, you saw price go up $2, then smacked down $2 on approximately NINE HUNDRED DAYS PRODUCTION "UP FOR SALE" IN A DAY.

Here's a #SilverBug's view of the #SilverSqueeze

https://renaissancemen.org/2021/02/02/why-the-silver-longs-and-eric-sprott-can-defeat-the-silver-shorts-an-education-in-4d-chess/ 

Why the silver longs, and Eric Sprott, can defeat the silver shorts – an education in 4D chess

Worldwide silver shortage. Bullion stores sold out for weeks, if not months. No one selling their product to them for spot price. Bullion priced $10-$13 over spot. Silver deficit of mine supply of 350 million ounces.

And of course, you expect to wake up at silver $2 less than a day before. Actually – I did, many of you did not. The price is actually in "contango", where the futures price the last time I checked is wayyyyy above spot. I know how they play this game. At issue here is the disconnect between the REAL physical price and the "paper" price.

When you see a contango like this, you can, in essence, sell a futures contract, then go to the spot market and buy silver. You can then deliver the product on the futures contract. This contango was $.75 a few minutes ago, per ounce. For a contract of $5,000 ounces, that is $3,750 you can pocket on this deal. Of issue, NO ONE will do this, because anyone trying to buy on the spot market may get months of delays to get product.

Yet, prices are falling because we obviously have all of this supply!!!