Company News

BUZZ-Eldorado Gold could benefit if business-friendly party wins Greece poll - JPM

** JP Morgan upgrades Canadian miner Eldorado Gold to “neutral” from “underweight”

** Brokerage says a win for the business-friendly party New Democracy in Greek snap elections should reduce risks for Eldorado

** The snap election is expected to take place on July 7

** Co has two operating mines and two development projects in Greece and has struggled with permit delays at its Skouries location for years

** Brokerage says if the new Greek government assures permit, Eldorado could also start to build this mine

** Says although funding is still a challenge, stronger gold and potentially a friendly government should open some doors

** 5 of 13 brokerages covering EGO rate the stock “buy” or higher, 5 “hold” and 3 “sell”; their median PT is C$7

** EGO shares have doubled in value so far this year (Reporting By Arundhati Sarkar in Bengaluru)