WHITEHORSE, Dec. 14 /CNW/ - European Goldfields Limited (TSX / AIM: EGU) ("European Goldfields" or the "Company") is pleased to announce an important advance in the permitting process
for its Project in Greece.
The Environmental Impact Study ("EIS") submitted by the Company's 95%-owned subsidiary Hellas Gold SA for
the development of the Project has now been reviewed by the local
authorities in Halkidiki, in North-Eastern Greece. The final public
hearing took place at a Prefectural Council meeting on Friday, December
10th and concluded with the Prefectural Council of Halkidiki voting
unanimously to endorse the EIS.
The formal public consultation process as required by law has now
concluded. The endorsement of the Prefectural Council will now be sent
to the Ministry of Environment, Energy and Climate Change ("MOE"), for its final approval of the EIS.
The Company remains committed to providing clear and appropriate
information on the Project.
The Project consists of:
Α. Continuation of operations at the Mavres Petres deposit of the
Β. The next stages of the Olympias project, namely the mining and
processing of ore and metallurgical treatment of the concentrate, in
accordance with the business plan as originally submitted. This
includes the reprocessing of previously mined tailings.
C. The development of mining and processing at the Skouries project and
D. The port facilities at Stratoni in service of the above projects'
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 website at www.egoldfields.com
SOURCE EUROPEAN GOLDFIELDS LTD.
For further information: For further information:
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|European Goldfields |
Steve Sharpe, Senior VP Business Development
Tel: +44 (0)20 7408 9534
|Liberum Capital Limited|
Tel: +44 (0)20 3100 2000
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Carole Cable / Fiona Micallef-Eynaud
Tel: +44 (0)20 7404 5959
|Evolution Securities Limited|
Tel: +44 (0)20 7071 4300