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Additional Information
Market: TSX NYSE
Sector: Gold Mining
EPIC: ELD
Latest Price: 11.31  (1.71% Ascending)
52-week High: 21.50
52-week Low: 10.38
Market Cap: 8,045.66M
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Eldorado Gold
www.eldoradogold.com

Eldorado Gold Corporation is a gold mining company actively growing businesses in Brazil, China, Turkey, Greece, and surrounding regions. Eldorado Gold is one of the lowest cost pure gold producers, and anticipates production of 700,000 ounces of gold per annum by 2013.

Full Eldorado Gold profile here
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Eldorado Gold's Paul Wright sees plenty of benefits from operating underground mines in China

19th Jan 2010, 1:10 pm
Eldorado Gold's Paul Wright sees plenty of benefits from operating underground mines in China

By Dorothy Kosich, Mineweb.com

While not a vein remains in China which hasn't been discovered by Chinese geologists, El Dorado Gold CEO Paul Wright says most of those discoveries only pertain to shallow mining deposits.

In a presentation Monday to the American Minerals Exploration British Columbia Mineral Exploration Roundup, Wright said major foreign gold companies "have dallied" in China for years waiting in vain for an invitation to participate in large gold projects.

Mining and exploration companies wanting to participate in Chinese projects must use a longer template than many shareholders are willing to tolerate to develop projects. Western mining companies must also be willing to provide risk capital.

Most Chinese gold mines are not very big when measured on a global scale and comprises less than 3% of the country's annual mining production, Wright noted.

All metals mined in China must be sold domestically, he advised. However, Wright suggested the Chinese mining sector is definitely interested in seeking access to Canadian base metals companies.

Eldorado made sure their mining model does not upset the large Chinese mining companies, Wright explained. The Toronto-based gold miner also made sure that Eldorado bought gold mining projects and operations which are located in a very remote, sparsely populated province which has been unable to attract much foreign investment.

As Chinese geologists concerned with surface exploration, Eldorado has focused its efforts on exploration and development of mineralization in orebodies. Wright suggests Eldorado will benefit more by accessing underground mines rather than open pit mines in China.

Wright has also found that once China awards a permit, the government does not renege on its mine and exploration permits.

Eldorado has also enjoyed very good support from Chinese authorities, particularly when improving mine operations or enhancing mine safety, he noted.

The company has three operating mines in China with a fourth now under construction. Wright says Eldorado "will engage in a lot more exploration" in the country.

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