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Monday, August 30, 2010

Eyeing Eldorado Gold? (TSE: ELD, NYSE: EGO)

Andy "Raw" Kibbens, Co-CEO of "The Markets Are Open", said today "Eldorado is one of the fastest growing canadian gold producers. It is bound to get a takeover offer anytime now". Backing Kibbens' view, we saw unusually high september call option buying on Friday. This suggests that investors are anticipating a strong upward move in the share price in the near future. Kibbens, also Co-CEO of Fillmore Capital Management said "If I had to pick a gold producer to get taken out, it would be Eldorado Gold. It's strong balance sheet and solid growth prospects make it a perfect target".

Eldorado Gold is a gold mining, exploration, and development company with projects Turkey, China, and Greece.