European Gold Share Discussion Threads

[wassapper] 18/8/2006 09:03

The fallback and the sideways movement has provided a very good buying opportunity.

David Reading has done very well. He is a true professional. There is considerable value here - political stability being one.

[seifoorim] 17/8/2006 13:31

And this too - very +ve


may be on the way up again

[rambutan2] 16/8/2006 03:01

11:13 AM ET
Business Morning with Jim O'Connell
European Gold update
David Reading, ceo, European Goldfields

Duration: 5 m 36 s

[novicedave] 14/8/2006 08:35

Chip/rambutan,

Cheers for the background info. I'll start with a small march spreadbet (which i took out at open today) and add as i do more research. I like the location of and metals involved in the main projects, and the stages which the projects are at (BFSs tend to add value to projects, as does the ramp up in production). The numbers, from an initial look, appear good and the technicals suggest that the price is towards its short-term bottom.

All very positive!

Good luck to you both.

ND

[rambutan2] 12/8/2006 22:17

chipperfrd,

egu used to be one of the few cos that stick the broker reports on their website. unfortunately, they stopped doing so a few months ago. advfn broker research also had a couple of reports, but i can't seem to access that part of the website at the mo?

imho egu is still suffering from a chequered/timmis history. and doubts about getting the other greek licences. also, calling yourself goldfields when you are in fact europe's newest zinc producer (and what timing!), and not producing any gold (yet), just goes to confuse poor mr mkt who likes to buy what it says on the tin. that said, egu has a number of high quality instit investors on board (including US ones) who are happy to sit and get their rewards in time.

the big plus in the last year has been the way they've got the romanian portfolio back into the picture and looking a usefull asset.

[chipperfrd] 12/8/2006 13:08

There is another article on Minesite (April 06) which is not linked in the header, which may be of interest ...

[chipperfrd] 12/8/2006 12:26

Dave - bit late spotting your post!

I cannot say that I have a deep and meaningful knowledge of EGU or that I have a clear timeline or profits target in mind. It is one of those companies that I happened on along the way, read up on their story, and liked it enough to make an opening investment.

Stratoni is now some months into profitable production of zinc concentrate and processed ore should be around 170kt in 2006, rising eventually to 400kt (echoes of GFM here!!). It looks highly likely that the resource body will grow considerably as exploration continues.

Skouries looks like a really good project with copper and gold at current prices. The strong relationship with a big Greek partner gives me some confidence that permits will be forthcoming.

Likewise with Olympias. But further, the early sales from the stockpile of gold concentrate (190koz) is extremely positive.

Certej (80%) also looks like it is highly likely to proceed into production - BFS awaited.

The H1 report has appeared very positive regarding all these projects yet there has been nil reaction on the LSE and TSX.

I am taking a longterm view here and will probably increase my holding along the way. I regret that I do not have any relevant broker forecasts to aid your analysis.

Chip

[andy] 11/8/2006 17:25

Chip, Novicedave,

From purely a TA point of view, the long term chart looks pretty good too IMO!

[novicedave] 11/8/2006 17:00

chip- you know much about these? All looks good from my initial research (the past 10 minutes or so). Any broker notes/profit forecasts you know of?

[chipperfrd] 11/8/2006 11:21

Total lack of interest on the lse - I wonder what the Canadians will make of the report. It all looks pretty good to me.

[rambutan2] 11/8/2006 10:25

LONDON (AFX) - European Goldfields Ltd reported a swing to profit in the
first half of 2006 as sales surged.
The company's pretax profit was 1.3 mln usd, up from a loss of 5.4 mln, on
sales of 17.4 mln, up from 8.6 mln.
In Greece the company said Stratoni production continues to ramp-up. There
was a 51 pct increase in ore mined in Q2 over Q1 2006 which is over halfway to
achieving the full year production target.
The company also said final feasibility studies are on track for Skouries
and Olympias.
In Romania two viable development options have been identified for the
Certej project. Reserves have been announced confirming Certej can produce a
robust return at 425 usd/oz gold and 7 usd/oz silver.
Chief executive officer David Reading said "we are proud to report a profit
for the first half of 2006 as production continues to ramp-up at Stratoni".
He said the group has started to sell Olympias surface concentrates and this will also contribute to the increasing cash flow from operations.

[Abuse team] 02/8/2006 07:29

Post removed by ADVFN

[wassapper] 14/6/2006 21:29

Roughly $10m per annum for the first 118k tonnes over three years. I guess they make $50-$100 per ounce.

[maxim1999] 08/6/2006 16:25

Incidentally seems to me to have a totally different risk profile to Russian based POG.

[maxim1999] 08/6/2006 16:15

Spoke to the co and strong meassage coming out is one of confidence.On final two licences seemed to be a case of when NOT if.Not new news but nevertheless heartening tohear. No obvious ecological issues involved in the production process. Management team is now in place that is fully able to take them to the next level as a significant resource producer .Recent large share sales improve liquidity and are only positive. Greek side is doing outstanding job.

[rambutan2] 11/5/2006 08:11

and no probs distributing the timis shares - good he gone.

[gardenboy] 11/5/2006 07:51

nice regular revenue from the Olympias concentrate stockpile will come in very handy

[chipperfrd] 11/5/2006 07:37

Good positive rns this morning re sale of Olympias concentrates.



Chip

[gardenboy] 21/4/2006 08:01

maxim - see RNS


posted by grade 5 on CEY thread,

The Daily Mail today:

Mining company European Goldfields closed 6.5p better at 216p after the Ministry of Development in Greece gave the thumbs up to its mining licence applications for its two large gold projects in Greece. The two projects have proven reserves over 7.6m ounces of gold. Broker Williams de Broe lifted its target price to 270p from 260p on consideration of buoyant metal prices.

[maxim1999] 20/4/2006 13:38

Gardenboy, which projects? And hw does it effect EGU? thanks

[rambutan2] 20/4/2006 09:46

good goood gooood.

that's one big tick on the list.

[gardenboy] 20/4/2006 08:11

news of projects being backed by the Greek government is lifting the share nicely this morning

[rambutan2] 12/4/2006 01:02

nicely upbeat piece.

[chipperfrd] 12/4/2006 00:40

Minews today.