from Yahoo! Finance
VANCOUVER, April 26, 2016 /PRNewswire/ – Eldorado Gold Corporation (the “Company” or “Eldorado”) is pleased to announce that it has reached an agreement to sell its 82 percent interest in the Company’s Jinfeng mine to a wholly-owned subsidiary of China National Gold Group (“China National Gold”) for US$300 million in cash, subject to certain closing adjustments.
“We are pleased to have reached an agreement which we believe mutually benefits both companies. China National Gold has been our minority partner at Jinfeng for over fourteen years and is the logical buyer as the operation transitions fully into the underground,” said Paul Wright, President and Chief Executive Officer of Eldorado Gold. “Since commencement of production in 2007, Jinfeng has consistently delivered solid operating results and has been a strong contributor in Eldorado’s global portfolio.”