Company Overview
European Goldfields is a developer-producer with 10 million ounces of gold reserves located within the European Union. The Company has a cashflow positive operating mine in Greece and will evolve into a mid-tier producer through responsible development of 3 significant gold and base metal deposits in Greece and Romania. The Company plans to build on its operating assets by expanding current mining operations, bringing development projects on stream and conducting an aggressive exploration program during 2010.
Highlights
- Gold reserves of 10Moz
- Working capital: US$129m (31 March 2010); No Debt
- Project pipeline: 3 projects
- Basic Engineering complete on 2 projects
- 1 former operation with existing infrastructure
- Total project investment US$47m during 2009
- In production at Stratoni, a cash flow positive polymetallic mine
- Selling Pb-Zn concentrates
- Plans to produce 400Koz Au; 4Moz Ag; 40Kt Cu; 90Kt Pb & Zn per year by 2013
- Shares: TSX/AIM “EGU”
- 182.4m shares outstanding
