EGU European Gold

 

TIDMEGU 
 
RNS Number : 0220K 
European Goldfields Ltd 
12 April 2010 
 

 
 
 
For Immediate Release 
                                                         12 April 2010 
 
                          European Goldfields Limited 
                               DIRECTORS DEALINGS 
12 April 2010 - European Goldfields Limited (TSX / AIM: EGU) ("European 
Goldfields" or the "Company") today reports that on 8 April 2010 a number of 
major institutional investors bought 6,684,641 common shares in the Company from 
Mr. Dimitrios Koutras, a Non-Executive Director of European Goldfields, in the 
London market at a price of GBP4.35 per share. This transaction reflects strong 
investor appetite for the Company resulting from recent progress in its 
permitting processes.  Mr. Koutras now owns 10,408,715 common shares in the 
Company representing approximately 5.7% of the total issued common shares. 
The shares sold by Mr. Koutras were purchased in the market in November 2008 at 
a time when European Goldfields needed to demonstrate the support of its 
management and directors.  Accordingly, in selling the shares on 8 April 2010, 
Mr. Koutras' position in the Company reverts back to his core long term holding 
level in European Goldfields.  The Company's management is particularly pleased 
that this sale has facilitated a further broadening of the Company's investor 
base. The Company is also pleased to report that Mr. Koutras remains fully 
committed to European Goldfields and expects no further reduction in his holding 
in the Company. 
Aktor Constructions International, European Goldfields' largest shareholder with 
35,447,246 common shares, or approximately 19.4% of the total issued common 
shares, is also fully supportive of the Company and does not have any plans to 
reduce its current position. 
About European Goldfields 
 
European Goldfields is a developer-producer with globally significant gold 
reserves located within the European Union. The Company generates cash flow from 
its 95%-owned Stratoni operation, a high grade lead/zinc/silver mine in 
North-Eastern Greece and the sale of gold concentrates from Olympias. European 
Goldfields will evolve into a mid-tier producer through responsible development 
of its project pipeline of gold and base metal deposits at Skouries and Olympias 
in Greece and Certej in Romania. The Company plans future growth through 
development of its highly prospective exploration portfolio in Greece, Romania 
and Turkey. 
 
For further information please see the Company's new website at 
www.egoldfields.com 
 
For further information please contact: 
 
European Goldfields:                                                   Buchanan 
Communications: 
Sally Schofield, VP Investor Relations                              Bobby Morse 
/ Katharine Sutton / James Strong 
e-mail: info@egoldfields.com                                           e-mail: 
bobbym@buchanan.uk.com 
Tel: +44 (0)20 7408 9534                                                Tel: +44 
(0)20 7466 5000 
RBC Capital Markets: 
Josh Critchley 
e-mail: joshua.critchley@rbccm.com 
 
Matthew Coakes 
 
e-mail: matthew.coakes@rbccm.com 
 
Tel: +44 (0)20 7653 4000 
 
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 
Information Form for the year ended 31 December 2009, 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 
 
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