Boston, MA 07/24/2013 (wallstreetpr) – Eldorado Gold Corp (USA) (NYSE:EGO) delayed three projects, prepared exploration budgets for 2013 by a combined US$287.5-million and reduced its capital spending as there is continuous fall in gold price which made many miners to restructure their operating plans. Eldorado Gold Corp also announced that it will calculate its dividend policy. Hunt Mining Corp. which is an aggressive and active explorer in Santa Cruz since many years recently announced its termination of Exploration Agreement With Eldorado Gold Corporation.
Earlier Hunt Mining Corp received notice from Eldorado Gold Corporation which stated the election to terminate exploration agreement. The exploration agreement was entered by both companies on May 3 in the year 2012. As the result, Hunt Mining Corp for its Argentine assets, had started to explore strategic options in addition to reduction in operating expenses so that it can maintain its cash position, the company also announced resignation of one of its Board of Directors Mr. Andrew Gertler. Hunt President and CEO, Matt Hughes said “Eldorado Gold Corporation have been a great partner and it was our pleasure to work with Eldorado, our company is very much disappointed as Eldorado Gold Corporation will not be our partner in Exploration on our Argentine assets”
Shares of Eldorado Gold Corp (USA) (NYSE:EGO) increased by 3.84% to close at $8.11 per share in the last trading session, with the opening price at $7.83 per share. The company had through the day moved in the intraday price range of $7.64 to $8.13 per share. With 715 million outstanding shares in the market, the stock has 58% institutional ownership of capital and $5.80 billion market capitalization. The 52 week low is at $5.56 and 52 week high is at $16.20 per share.
