European Gold Share Discussion Threads

[cat] 09/11/2010 17:54

what a nice chart - to go with a nice thread

[cat] 04/11/2010 19:33

£20 soon i fink

[chris2000smith] 01/11/2010 11:30

Q3 Results out on Thurs 11th Nov. Hope to see a nice rise in the run-up to the results.

[seagreen] 26/10/2010 21:21

Bellissimo....mucho gratis to the grande hombre quien dijo £15 por Día de navidad

[cat] 25/10/2010 22:18

unfolding nicely

[mcmather] 14/10/2010 08:13

Crikey 800p. Well done to those still in (not mesen, sadly).

[cat] 13/10/2010 22:22

chart implies this new up-move could be dramatic

[seagreen] 13/10/2010 15:05

Goldman also began its coverage on one of AIM's largest-cap stocks, European Goldfields (LON:EGU).

The analyst said the company offers a compelling proposition with significant reserves (18 million ounces gold equivalent), existing production supporting its expansion, low gold unit costs and substantially reduced geopolitical risk compared to its peers.

"We see imminent agreement on financing, the option of securing additional funding against base metal streams and the final permitting potentially in 4Q as catalysts."

"We expect these to provide strong support for EGU through to December."

[willyworm2] 13/10/2010 08:14

Goldman Sachs has started coverage of EGU with a GBP11.00 price target

[rambutan2] 28/9/2010 14:03

Here's the Denver Gold Forum webcast from last tues...

[mcmather] 28/9/2010 13:46

Ah well, didn't quite make the £8. That'll do me. GLA.

[mark_jm] 20/9/2010 21:34

Nice to see some informative posts here, hope the trend continues. Interesting the commenst re a possible re-rate and the time line

[denarii] 16/9/2010 10:59

aau the egu turkish partner is catching some wind in its sails, wd make sense imo to top slice here and add there...

[willyworm2] 16/9/2010 08:25

UBS initiate coverage today...

We initiate coverage of European Goldfields, a London AIM-listed mining group, with a Buy rating and £7.9 per share price target, implying c15% potential upside to the current share price. European Goldfields is a gold and base metals mining and development company with an existing base metals operation in Greece, along with major gold projects located in Greece and Romania.

Looking to be a half-million ounce gold producer:

European Goldfields has an advanced pipeline of growth projects that could ultimately lead to gold production of 500-600koz per annum in the medium term through development of the Olympias, Skouries and Certej deposits. Work on the design for the retreatment of gold bearing tailings at Olympias is advanced (awaiting final permits in preparation for 2011 production).

Re-rating is likely after clearing the project permitting stage:

European Goldfields is currently trading on a P/NPV of c1.2x, based on our estimates, below the industry average of c1.6x and well below some of its more established peers. We expect European Goldfields to re-rate as it clears the permitting process for its major projects (which we expect in the coming year) and enters the construction stage.

Valuation: £5.65 per share NPV: price target £7.90 per share

We calculate a NPV of £5.65 per share and set our price target at £7.90, using a P/NPV of 1.4x. We remain positive on gold and expect prices to average US$1,255/oz in H2-10 and US$1,295/oz in 2011E, in-line with current spot levels.

[mark_jm] 15/9/2010 18:48

I sold out at 550 for what I thought was a better near term bet, as it happens wouldt have been any worse off staying in here ohh well at least my other one didnt go the wrong way

[maxim1999] 15/9/2010 14:19

why is there so little posting on what seems to be going vertical?

[denarii] 15/9/2010 12:57

come on guys roll some profits into aau, you know you want to!

[mcmather] 15/9/2010 12:14

I've pencilled the 28th in my diary for my next post willyworm.

[willyworm2] 15/9/2010 12:08

another 2 weeks and tou can post £8 mcmather!!

[mcmather] 15/9/2010 09:07

£7. Nice.

[mcmather] 03/9/2010 18:09

C$10 broken also -

[mcmather] 03/9/2010 10:02

£6 plus.

[mark_jm] 19/8/2010 17:08

so wer are nudging a little closer to that 825 NPV figure. Its good to see.

Does any one know when the Romanian authorities are likley to pas judgement?