Company Update (8376B)
February 24 2011 - 12:34PM
UK Regulatory
TIDMEGU
RNS Number : 8376B
European Goldfields Ltd
24 February 2011
Suite 200, Financial Plaza
204 Lambert Street
Whitehorse, Yukon
Canada Y1A 3T2
For Immediate Release
COMPANY UPDATE
24 February 2011 - European Goldfields Limited (AIM: EGU / TSX:
EGU) (the "Company") notes today's report on Thomson Reuters
referring to the permitting process in Greece.
European Goldfields confirms that it has not been officially
notified by the Greek authorities that there is any issue regarding
the permitting process or the timing of such.
The Company notes the clarification from the Greek Ministry for
Environment, Energy and Climate Change ("MOE") that has since been
issued.
The Minister, Ms Birbili has been further quoted in a news
briefing later this afternoon as stating that "the Environmental
Study is under evaluation and the Ministry will issue the terms [of
the permit] once that is complete".
The Company confirms that it has not been asked to provide any
additional information by the MOE regarding groundwater or
groundwater pollution. The Company has previously received
confirmation from a Special Technical Committee of the MOE that the
final Environmental Impact Statement ("EIS") conformed with all
technical requirements under Greek and EU environmental
legislation.
In addition, the Company wishes to highlight that after full
public consultation, on 10 December 2010 the local prefectural
council unanimously supported the EIS and passed the same to the
MOE for final approval.
European Goldfields has full confidence in the integrity of the
permitting process in Greece and will keep the market informed as
necessary.
About European Goldfields
European Goldfields is a developer-producer with globally
significant gold reserves located within the European Union. The
Company generates cash flow from its 95% owned Stratoni operation,
a high grade lead/zinc/silver mine in North-Eastern Greece.
European Goldfields will evolve into a mid-tier producer through
responsible development of its project pipeline of gold and base
metal deposits at Skouries and Olympias in Greece and Certej in
Romania. The Company plans future growth through development of its
highly prospective exploration portfolio in Greece, Romania and
Turkey.
For further information please contact:
European Goldfields Liberum Capital Limited
Steve Sharpe, SVP Business Development Simon Atkinson
e-mail: info@egoldfields.com Tom Fyson
Tel: +44 (0)20 7408 9534 Tel: +44 (0)20 3100 2000
Brunswick Evolution Securities Limited
Carole Cable / Fiona Micallef-Eynaud Rob Collins
e-mail: egoldfields@brunswickgroup.com Tim Redfern
Tel: +44 (0)20 7404 5959 Tel: +44 (0)20 7071 4300
This information is provided by RNS
The company news service from the London Stock Exchange
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