European Goldfields to Commence Trading on Toronto Stock Exchange.WHITEHORSE, Yukon -- European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Limited ("European Goldfields" or the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:EGU EGU European Geosciences Union EGU English Golf Union EGU Electrical Generating Unit EGU Engineering unit EGU Epidemiology & Genetics Unit ) (AIM:EGU) is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSX) effective today.In conjunction with its move to the TSX, the Company's shares will be de-listed from the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. , where the Company's shares have traded since June 2000.The current stock symbol "EGU" will remain in effect. European Goldfields' shares remain listed on the AIM Market of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. , where the Company has raised over US$100 million in 2004. Commenting on the promotion, David Reading Professor Sir David Read FRS is Emiritus Professor of Plant Science in the Department of Animal and Plant Sciences at University of Sheffield. His first degree and PhD came from University of Hull, the latter in 1963. , Chief Executive Officer of European Goldfields, said: "European Goldfields has developed rapidly over the past year, with its acquisition of over 17m ounces of gold equivalent proven and probable reserves in Greece, as well as having completed significant fund raising in London in 2004 to finance the company through to production.Consequently, due to our significant increase in market capitalisation Noun 1. market capitalisation - an estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share market capitalization and the increased liquidity of the company's shares, we are delighted to move up the company from the TSX Venture Exchange to the TSX, a more appropriate exchange for our current size and aspirations aspirations npl → aspiraciones fpl (= ambition); ambición f aspirations npl (= hopes, ambition) → aspirations fpl ." About European Goldfields European Goldfields is a resource company involved in the acquisition, exploration and development of mineral properties in Greece, Romania and the Balkans. Greece - European Goldfields holds a 65% interest in Hellas Gold S.A.Hellas Gold owns assets in Northern Greece which include 70 year mining concessions over a total area of 317 km2 and three polymetallic near-production deposits, known as Olympias, Stratoni and Skouries, with total proven and probable reserves of 17.04Moz of gold equivalent (65% attributable: 11.08Moz). The Stratoni and Olympias deposits were previously in production and benefit from significant infrastructure which includes underground mining development, two plants and a ship loading facility on the Aegean Sea Aegean Sea, Gr. Aigaion Pelagos, Turkish Ege Denizi, arm of the Mediterranean Sea, c.400 mi (640 km) long and 200 mi (320 km) wide, off SE Europe between Greece and Turkey; Crete and Rhodes mark its southern limit. .Hellas Gold's assets also include potential revenue generating stockpiles located on the surface. Hellas Gold's resources and reserves are allocated amongst the three deposits as follows:
Measured and Indicated Resources
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Deposit '000t Au Au Ag Ag Ag Pb Pb
g/t Moz g/t Moz as % '000t
Au
Eq
Moz
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Olympias 14,528 9.31 4.35 128.6 60.06 0.94 4.18 607
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Skouries 191,200 0.82 5.03 - - - - -
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Stratoni 2,221 - - 202.4 14.45 0.23 8.60 191
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Total - - - - - - - -
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Total
65%
attri-
butable - - - - - - - -
--------------------------------------------------------------------
--------------------------------------------------------------------
Deposit Pb Zn Zn Zn Cu Cu Cu Total
as % '000t as % '000t As Au
Au Au Au Eq
Eq Eq Eq Moz
Moz Moz Moz
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Olympias 1.12 5.58 810 2.27 - - - 8.69
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Skouries - - - - 0.55 1,043 6.79 11.82
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Stratoni 0.35 11.44 254 0.71 - - - 1.29
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Total - - - - - - - 21.80
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Total
65%
attri-
butable - - - - - - - 14.17
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Proven and Probable Reserves
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Deposit '000t Au Au Ag Ag Ag Pb Pb
g/t Moz g/t Moz as % '000t
Au
Eq
Moz
--------------------------------------------------------------------
Olympias 14,045 8.55 3.86 119.6 54.02 0.83 3.89 547
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Skouries 129,5 0.89 3.71 - - - - -
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Stratoni 1,642 - - 178.5 9.42 0.15 7.61 125
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Total - - - - - - - -
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Total - - - - - - - -
65%
attri-
butable - - - - - - - -
--------------------------------------------------------------------
--------------------------------------------------------------------
Deposit Pb Zn Zn Zn Cu Cu Cu Total
as % '000t as % '000t As Au
Au Au Au Eq
Eq Eq Eq Moz
Moz Moz Moz
--------------------------------------------------------------------
Olympias 1.01 5.16 725 2.04 - - - 7.76
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Skouries - - - - 0.56 725 4.72 8.43
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Stratoni 0.23 10.25 168 0.47 - - - 0.85
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Total - - - - - - - 17.04
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Total
65%
attri-
butable - - - - - - - 11.08
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Romania - European Goldfields holds five mineral properties located within the "Golden Quadrilateral The Golden Quadrilateral (GQ) is the largest express highway project in India launched by Sri Atal Bihari Vajpayee, former prime minister of India. It is the first phase of the National Highways Development Project (NHDP), and consists of building 5,846 kilometres of four/six lane " area of Romania, where it has embarked on a resource development and pre-feasibility programme to underpin the value of its 80%-owned Certej deposit and surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. satellite bodies. A current resource estimate outlines measured and indicated resources of 31.4Mt grading 2.1g/t gold and 11.0 g/t silver for 2.34Moz of gold equivalent (80% attributable: 1.87Moz). This estimate was based on a selective mining unit model using 6.5 X 12.5 X 2.5 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, blocks and a 1g/t gold cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, grade. Further work at Certej now focuses on completing an in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. pre-feasibility study, the next phase of which will concentrate on optimising mining and understanding the variable metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. recoveries.Scoping work on pit optimisations will establish the mining cut-off grades and associated strip ratios for appropriate and optimum exploitation of the deposit.The metallurgical testwork includes mineralogical min·er·al·o·gy n. pl. min·er·al·o·gies 1. The study of minerals, including their distribution, identification, and properties. 2. A book or treatise on mineralogy. studies into the gold disposition within the mineralisation, and floatation testwork aimed at maximising gold recoveries. Reserve and Resource Parameters Disclosure of mineral reserves for Hellas Gold's Olympias, Stratoni and Skouries deposits is derived from a Pre-feasibility Study prepared by Behre Dolbear & Company, Inc. and filed on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review at www.sedar.com on 29 October 2004 under the category "Technical Report", and European Goldfields' news release and material change report filed on SEDAR on 30 November 2004. Disclosure of mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature for European Goldfield's 80%-owned Certej deposit is derived from a resource estimate prepared by RSG RSG Revenue Support Grant (UK) RSG Recovery Storage Group (Microsoft Exchange) RSG Ready, Set, Go! RSG Regional Support Group RSG Research Study Group (NATO) Global Pty Ltd PTY LTD Propriety Limited (company structure in Australia) and filed on SEDAR on 29 January 2004 under the category "Engineering Report", and European Goldfields' news release and material change report filed on SEDAR on 28 February 2005. Gold equivalent ounces were calculated using the following metal prices, representing the average of (i) the average metal prices from 1993 to 2003 (source: LME See London Metal Exchange. LME See London Metal Exchange (LME). ), and (ii) the average metal prices from 1 January to 30 June 2004 (source: LME): Au: US$369/oz; Ag: US$5.79/oz; Pb: US$0.31/lb; Zn: US$0.47/lb; Cu: US$1.09/lb. Mining recoveries for reserves have been taken into account. However, metallurgical and refinery costs have not been considered when calculating the gold equivalents. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release contains certain forward-looking statements concerning the Company's future operations, economic performances, financial condition and financing plans. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors the Company believes are appropriate in the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . However, whether actual results and developments will conform with the Company's expectations and predictions is subject to a number of risks, uncertainties and assumptions. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by the Company will be realised or, even if substantially realised, that they will have the expected consequences to or effects on the Company and its subsidiaries or their businesses or operations. The Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law. EUROPEAN GOLDFIELDS LIMITED (TSX VENTURE:EGU) (AIM:EGU) |
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