When investors hear the word “Greece” these days, they usually run for cover. But Eldorado Gold Corp. had the opposite reaction, as the austerity and economic misery actually made the country a more attractive place for gold mining. Late Sunday, Eldorado unveiled a $2.5-billion takeover of European Goldfields Ltd., a deal that gives it prized gold assets in Greece. The all-stock deal allows Eldorado to consolidate all the key deposits in the country.
See http://www.nationalpost.com/todays-paper/Offer+Goldfields+Greece/5885222/story.html.
European Goldfields is listed on the Toronto Stock Exchange and London’s Alternative Investment Market (AIM).
See also Eldorado aims to double production with European Goldfields bid, http://www.theglobeandmail.com/globe-investor/eldorado-aims-to-double-production-with-european-goldfields-bid/article2276992/.