Eldorado Gold Corp (USA) (NYSE:EGO) has announced its addition of projects to advance its mining works in three mineral rich countries of Romania, Brazil and Serbia. These new projects are said to include definite targets that the company is seeking to exploit through the remaining quarter of the year besides the already existing long-term potential to exploit the target areas. Peter Lewis, the Vice President of exploration at Eldorado says this is a big opportunity for the company, adding that they are counting on making a major success from the current advances.
The company has of late acquired a porphrycopper gold system in Romania that provides a new opportunity for extending the company’s growing land coverage over the prospective Romania’s mining district of Apuseni. In August, Romanian National Agency for Minerals reportedly awarded an exploration license covering the Bolcana project to the company’s subsidiary SC European Goldfields Deva SRL.
Eldorado is also said to be prospecting over exploring more projects in Borborema and Nazarengold in Brazil. This move follows an agreement between the company and Votorantim Metais, which granted the former 70% ownership of the license areas in both regions. According to the agreement, the company can earn 51% of either project in spending a minimum $2 million in its first year of exploration there, then earning $1million in the subsequent years.
The company will also be able to generate at least 500,000 ounces of gold or spend $ 10 million in five years, although it can increase its ownership to 70% if it produces feasible study within ten years after signing the agreement. The company says that these projects will advance Brazil’s exploration portfolio, as it has an outstanding reputation in the mining industry.
Eldorado is seeking another opportunity in Serbia, where the company has acquired 100% of Karavansalija Mineral Center in through a one-year agreement with Euromax Resources in 2015. The said Karavansalija project is a promising prospect grounded on a gold, copper and base metal mining base. The company is reported to be targeting high grade epithermal gold mineralization within 800 meter ground cover around Copper Canyon and Gradina zones.
Eldorado is a leader company in dealing with low cost gold, a mining and development as well as exploration operations in Turkey, China, Greece, Romania and Brazil. The company has made substantial success, thanks to its low cost strategy and dedicated workforce.
HERITAGE PRINTING NPV (OTCMKTS:HAGE) Records Surge in Share Value
HERITAGE PRINTING NPV (OTCMKTS:HAGE) recorded a gain of 3.57%, during the August 22 trading session, on a trade volume of just 29,229, to close at $0.58 per share. The stock has been slowly gaining ground, despite the fact that there have been no updates from the company, since it filed its 2Q2016 financial report, on August 15. One of the positive things about the company, indicated in the 2Q2016 report, was the fact that it had just 200 million authorized shares and just 77.27 million shares outstanding.
Moreover, during the 2Q2016, the company made just two issuances of 50 million and 2 million shares, to Tom Graves and John Bell, respectively. This also brought the share ownership of its president, Mr. Graves, to 97.24%. Conventionally, OTC companies in the position of HAGE, with no revenues for the past 12-months, are severely diluted. Moreover, the company’s total liabilities are just over $15,000, as well.