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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
European Gold | LSE:EGU | London | Ordinary Share | CA2987741006 | COM SHS NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 807.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2040Z European Goldfields Ltd 28 June 2007 Immediate Release 28 June 2007 European Goldfields Ltd Underwriters to Exercise Over-Allotment Option NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES 28 June 2007 - European Goldfields Limited (TSX / AIM: EGU) (the "Company" or "European Goldfields") is pleased to announce that RBC Capital Markets, on behalf of itself, Evolution Securities Ltd, Raymond James Limited, Dundee Securities Corporation and Orion Securities Inc. (collectively, the "Underwriters"), has given notice to the Company that the Underwriters wish to exercise their over-allotment option to purchase a total of 3.6 million common shares of the Company (the "Over-Allotment Shares") at a price of Cdn$5.00 per share, generating gross proceeds to the Company of Cdn$18 million. The over-allotment option was granted to the Underwriters by the Company to cover over-allotments under the terms of the Company's recently closed financing (as explained in the Company's press release dated 26 June 2007). The sale of the Over-Allotment Shares is scheduled to close on or about 29 June 2007. As with the proceeds of the recently closed financing, the Company intends to use the net proceeds from the sale of the Over-Allotment Shares to finance the development of its projects in Greece and Romania, and for general corporate purposes. The Over-Allotment Shares are expected to commence trading on the Toronto Stock Exchange on 29 June 2007 and on the AIM Market of the London Stock Exchange on 3 July 2007. The Over-Allotment Shares have not been, nor will be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement of such Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction. Any public offering of securities to be made in the United States would, if made, be made by means of a prospectus that could be obtained from the Company that would contain detailed information about the Company and management as well as financial statements. About European Goldfields European Goldfields is a resource company involved in the acquisition, exploration and development of mineral properties in Greece, Romania and South-East Europe. Greece - European Goldfields holds a 65% interest in Hellas Gold S.A. Hellas Gold owns three major gold and base metal deposits in Northern Greece. The deposits are the polymetallic projects of Stratoni and Olympias which contain gold, zinc, lead and silver, and the Skouries copper/gold porphyry body. Hellas Gold commenced production at Stratoni in September 2005 and selling an existing stockpile of Olympias gold concentrates in July 2006. Hellas Gold is applying for permits to develop the Skouries and Olympias projects. European Goldfields has entered into an agreement to acquire an additional 30% interest in Hellas Gold, which would increase European Goldfields' interest to 95%. Romania - European Goldfields owns 80% of the Certej gold/silver project in Romania. European Goldfields submitted in March 2007 a technical feasibility study to the Romanian government, in support of a permit application to develop the project. For further information please contact: European Goldfields: e-mail: info@egoldfields.com David Reading, Chief Executive Office: +44 (0)20 7408 9534 Officer RBC Capital Markets Office: +44 (0)20 7653 4093 Patrick Meier / Peter Barrett-Lennard Evolution Securities Office: +44 (0)20 7071 4300 Frank Moxon / Simon Edwards Buchanan Communications: e-mail: bobbym@buchanan.uk.com Bobby Morse / Ben Willey Office: +44 (0)20 7466 5000 Renmark Financial Communication: e-mail: nmurraylyon@renmarkfinancial.com Neil G. Murray-Lyon Office: +1 514 939 3989 Forward-looking statements Certain statements and information contained in this document, including any information as to the Company's future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute forward-looking information under provisions of Canadian provincial securities laws. When used in this document, the words "anticipate", "expect", "will", "intend", "estimate", "forecast", "planned" and similar expressions are intended to identify forward-looking statements or information. Forward-looking statements include, but are not limited to, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs and timing of development of new deposits, permitting time lines and expectations regarding metal recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the price of gold, base metals or certain other commodities (such as fuel and electricity) and currencies; uncertainty of mineral reserves, resources, grades and recovery estimates; uncertainty of future production, capital expenditures and other costs; currency fluctuations; financing and additional capital requirements; the successful and timely permitting of the Company's Skouries, Olympias and Certej projects; legislative, political, social or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; the speculative nature of gold and base metals exploration and development, including the risks of diminishing quantities or grades of reserves; the risks normally involved in the exploration, development and mining business; and risks associated with internal control over financial reporting. For a more detailed discussion of such risks and material factors or assumptions underlying these forward-looking statements, see the Company's Annual Info rmation Form for the year ended 31 December 2006, filed on SEDAR at www.sedar.com. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. This information is provided by RNS The company news service from the London Stock Exchange END MSCFPMMTMMITBTR
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