European Gold Share Discussion Threads

[mcmather] 30/3/2010 13:39

Right on cue WW2:-

"This is an important further step in the development of the Certej project and in the Company's wider relationships with the debt capital markets. European Goldfields is very pleased to be working with such high quality financial institutions, all with extensive experience and excellent credentials in global mining finance."



Lets see if it generates a bit of interest across the water.

[willyworm2] 29/3/2010 15:52

mcm, agreed, I think full permitting and financing and this could get to £8 or above. I think the FD said financing for Certej would be announced before the end of the month.... only two days to go! Certainly looks as if something is going on in the background.

[willyworm2] 29/3/2010 15:29

mcm, it will be in the UK but in Canada it is still some 15% off its Dec 2009 high. we have been helped by the weakness in sterling. The Canadian high of CAD7.75 (currently CAD6.70) would translate into around £5.05 at current exchange rates, which would be nice!

[mcmather] 29/3/2010 14:41

Another couple of points and EGU breaking new ground.

[kickstart] 18/3/2010 11:11

It is still gonna be a while yet before they are producing copius amounts of gold so we have to be patient. At the moment we are trading on the size of the asset and the locations. I believe we are in for a big gold ride over the next couple of months and this will take EGU with it.

[mcmather] 18/3/2010 09:01

Some highlights imo:-


"Results of an airborne geophysics survey have significantly increased the number and extent of conductive anomalies identified within the Licence Area. Some of these anomalies are already known to host mineralisation and others are currently untested. The EM survey had already successfully confirmed an anomaly extending eight kilometres of strike at the Piavitsa massive sulphide target; two kilometres of this strike length have massive sulphide drill intercepts which correspond exactly with the EM anomaly. To put this new exploration target in context, the massive sulphide mineral reserves at Olympias have a strike length which totals two kilometres.

In addition, the magnetic component of the survey has already identified a 17
kilometre by six kilometre belt of porphyry intrusives over which a three
dimensional model has been completed defining two other major targets, Fisoka
and Tsikara."


"Along the volcanic belt which hosts the Certej project, surface work including extensive soil sampling, geophysical surveys and re-interpretation of existing data has outlined a series of epithermal gold targets proximal to the Certej deposit and the historic Brad mines"


"A high-grade gold zone has also been identified at some three km to the southwest of the Ardala porphyry. Trenching has returned bedrock intercepts of between 6 and 46 metres at grades of between 2.8 and 9.6 g/t gold (using a 0.5g/t gold lower cut-off and no upper cut-off grade) over a 360m strike length with mineralisation open to the south."


"A hearing on both requests for annulment was held in late 2009 and the
Company is now pleased to confirm that the Council of State has published its
judgement to reject both requests for annulment in all respects"


"There is considerable potential to significantly add to the Company's gold
resource inventory during 2010. The Company already benefits from an unusually
high level of reserves and a high resource to reserve conversion ratio. However, the broader potential around its current operational and development assets is currently untested and newly identified drill ready targets present
the opportunity to fast track the Company's US$15 million 2010 exploration
program with a view to increasing resource ounces."


"European Goldfields added to S&P/TSX Global Gold Index The Company is pleased to announce that, as a result of Standard & Poor's Canadian index changes following the quarterly S&P/TSX Composite Index review, European Goldfields has been added to the S&P Global Gold Index. The change will be effective on Monday, March 22, 2010".


The results seem ok but far from spectacular and, short term, it remains to be seen whether this will significantly change - mining was down at stratoni whilst "Hellas Gold has now completed the sale of the Olympias pyrite gold concentrate stockpile" and "Sales of Olympias gold concentrate will resume once Hellas Gold receives the permits to process 2.4Mt of stockpiled tailings arising from the previous operations at Olympias and when plant rehabilitation is completed".

However, the addition to the S&P Global Gold Index will hopefully provide increased visibility whilst the overall resource - already impressive - looks as if it can be substantially increased upon. Maybe a bit sideways (sp-wise) for a period??

[penguin33] 17/3/2010 15:17

thanks - i wish some more of my Aim holdings would get on with dual listing too

[mcmather] 17/3/2010 14:59

Dual listing on the TSX penguin. Just been enjoying the ride with WTN - similarly dual listed on TSX - anything similar here will be much welcome.

[penguin33] 17/3/2010 14:51

I've never known why this is an AIM stock yet i can hold it in an isa - makes it more attractive imho

[mcmather] 17/3/2010 08:51

"that'd make it more investable" - agree foot in mouth especially after their recent admission to the S&P/TSX indices previously referred to. Think there should be some scope here over the next 12 months or so. Lets see what tomorrow brings for the time being.

[foot in mouth] 16/3/2010 20:03

Wow, so this has a market cap on £720 million! Must be one of the biggest companies on AIM. Companies with a market cap of around a billion £ can get in to the FTSE 100. Does anyone think that this might ever move to the main index? maybe something for EGU to consider as they get bigger and bigger! that'd make it more investable.

GLA, I bought in today - was a holder many seasons ago - should have held I know!!

[mcmather] 16/3/2010 13:12

Agree kickstart. There also appear to be significant upside with the other projects; the below from a couple of previous / earlier posts. The potential here does appear a little scary especially when considering that it is all in the EEC. As long as Canada likes the progress that will do me!!


From post 525:-

"In total, the EM survey has now identified or confirmed a total of 28 kilometres of conductive anomalies, some of which host known mineralisation. To put this in context, the massive sulphide reserves at Stratoni and Olympias have a strike extent totalling two kilometres".

Could this really be 14 times what they already have there?"


Although by post 542 I've got this down to 'just' 10 times:-

"Might be. But they've got 11m oz of gold and the huge prospects in greece apparently measure 2km with reference to a scoping study(?) suggesting that there might be at least 10 times that in adjacent acreage. Possibly just undervalued?"

[kickstart] 16/3/2010 11:41

Looking good mcmather , shame no one else seems interested except you and I. Its a good job they predominantly trade in Canada or the price would be much lower. I do not understand the lack of interest here given the safety of the resources ( all within the EEC)-- I dont think any other explorer/producer is as large within the EEC.
I think there could be a parabolic move in Gold over the next couple of months and would not be surprised to see $2,000 sometime soon.Gold is fast becoming a currency IMOP. EGU are my safest Gold share with little/no political risk. Who else has 10mln oz plus within the EEC ?

[mcmather] 16/3/2010 08:58

News from Romania:-

"The last remaining approval required for the grant of the Zonal Urbanisation
Plan ("PUZ") relating to Certej has been issued by the Regional Department for
Environmental Protection, Timisoara. Formal public notice of this approval has been issued today in Romania and, at the next meeting of the Certej council
which is expected within the next week, the full PUZ permit will be granted."

"Commenting on this latest advance of Certej Martyn Konig, Executive Chairman and President of European Goldfields said......"This is a landmark event".

Should go down well in canada later on

[mcmather] 14/3/2010 17:41

Just having a further browse through the website and came across these highlights from the BMO Global Metals & Mining Conference 2010 presentation:-

Significantly undervalued amongst peers –trading at P/NAV 0.7x (0% discount).

Significant exploration potential within current licences.

Extensive epithermal goldmineralisation in Brad area and porphyry targets in Devaregion (Romania).

[mcmather] 14/3/2010 11:35

Also, announced on Friday; perhaps, the new website was more in preparation of the same as opposed to the pending results (ie increased profile / possible increase in instituational investors?):-

S&P/TSX GLOBAL GOLD INDEX – MARCH 2010 – QUARTERLY REVIEW
ADDITIONS
Issue Name
Symbol
Exchange
European Goldfields Limited
EGU
TSX

[mcmather] 14/3/2010 11:00

Nicely in time for the results;

"global3digital launches new corporate website for European Goldfields" -

Quite impressive as well -

[mcmather] 03/3/2010 12:39

Gold seemingly on the rise. Results due by month end. Hopefully, will see this push on a little further - perhaps, testing the recent high in Dec?

[investinggarden] 09/2/2010 10:09

Test the gleam of gold shares

[kickstart] 06/2/2010 00:57

And the time looked right-- back in at 328.7p today.

[kickstart] 04/2/2010 17:08

Dreadfull day for gold . Thought it would take a big knock as it spiked up and now the spike down reaction. If the US$ index breaks 80 it could go a lot lower. I like EGU and realise I am playing a risky game but I think the market is on my side at the moment and happy in 75%+ cash. Also sold CEY at 119 3/4 when I sold these. Looking to buy back when the time looks right.

[mcmather] 04/2/2010 12:15

Happy to hold - hoping there will be news re the Salinbas prospect in turkey (JV with AAU) but suspect that the same will not be relayed until the results (13th/19th) March 2010?

However, a very nice little earner there KS over just a few days.

[denarii] 04/2/2010 12:14

have the greeks imposed a super tax on them yet?