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Latest Eldorado dispute not critical
Posted on June 26, 2008
Shares of Eldorado Gold Corp. were in a tailspin Tuesday and Wednesday, dropping more than 10% on a report out of Turkey that a court has suspended a government plan to expropriate land for Eldorado to use in development of its Efem ukuru mine.RBC Capital Markets analyst Michael Curran noted that any concerns about this dispute are largely overdone. Management told him the disputed area amounts to just 14 of the 3,000 hectares acquired by the company, and that it would not affect construction activities over the next year. He figures the situation can be rectified before the land is needed fo...
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