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by Stockwatch Business Reporter
New York spot gold lost $9.80 to $1,319.20 on Friday. The TSX Venture Exchange gained 3.42 points to 779.66 while the TSX Gold Index lost 1.36 points to 200.79. Detour Gold Corp. (DGC) led Canadian golds lower, dropping 34 cents to $15.74 on 6.28 million shares. Gainers were in short supply, although Barrick Gold Corp. (ABX) added 18 cents to $21.07 on 11.40 million shares and Kinross Gold Corp. (K) added two cents to $5.88 on 62.82 million shares.
George Burns's Eldorado Gold Corp. (ELD), down eight cents to $2.82 on 32.90 million shares, has wrung two more permits from the balky Greek government, but it wants more. The company had said on Monday that it was suspending operations in Greece: halting investment in its mines, development projects and exploration assets until the government agrees to "engage constructively" with it. On Wednesday, the company got an operating permit for the Olympias mine and an installation permit for Kokkinolakkas. Now, it has approval for a study for the closure of the Old Olympias operation and an installation permit for the (new) Olympias.
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Good for Mr. Burns.....too many of these "left-wing" Countries want nothing to do with mining but they A) want the money and B) want the jobs.
Most mining companies would move right along if they know its a lost cause, they just want the investment to be honored once it is started and ongoing.