Eldorado Gold Completes Sale Of Chinese Assets

Eldorado Gold Corp reports completion of the sale of its interest in the White Mountain and Tanjianshan mines and Eastern Dragon development project to an affiliate of Yintai Resources Co. Ltd. Eldorado announced the deal back in May, saying at the time that it was worth $600 million. "This closing marks the conclusion to Eldorado's 11-year history in China,” says Paul Wright, president and chief executive officer of Eldorado. He later adds, "We are very pleased to have completed the monetization of our Chinese assets and look forward to advancing our internal project pipeline with the enhanced financial flexibility resulting from the sale process."