European Goldfields Ltd has received another key to the adoption of its 80% owned Certej gold-silver project in Romania. The company expects its Zonal Construction Plan (PUZ), payable within one week after final approval was issued by the Regional Department of Environmental Protection in Timisoara. Permit substantial ‘One’ is still pending, namely, approval of environmental impact assessment of the project, the management described as “already well advanced.
The company’s shares rose 5% in EUR 4.01/share Tuesday morning after the announcement.
European Goldfields CEO and chairman, Martyn Konig, said: “Our patience has been rewarded with a unique achievement in developing a gold project in Romania. This is a historic milestone. We realize that the Romanian authorities have recognized both in our ability and our cooperation in this whole production process.
Certej is an epithermal gold / silver deposit located in the zone of the Apuseni Mountains in Transylvania Golden Quadrilateral ‘in western Romania, 12 km from the regional town of Deva.
The deposit contains reserves of gold and 2.41Moz silver 17.3Moz. The € 133.4 million dollars (U.S. $ 98 million) mines are expected to produce 172.000 ounces / y of gold and 720,000 ounces of silver in the first three years of a 16-year old. Are expected to cost U.S. $ 370/oz.
European Goldfields is also active in Turkey and Greece.
Gold extends losing streak on rising U.S. dollar
SAN FRANCISCO - Gold futures wavered between small gains and losses Monday, struggling to break a four-day losing streak as Europe pulled back Russian immigration as a concern for traders and a rising U. . . Read more »
Says oil fall, Woods Hole, degrading slowly
Woods Hole Oceanographic Institution researchers have mapped out a meandering, 22-mile undersea oil smoke plume from the BP PLC well in the Gulf of Mexico, work say it provides strong evidence that oil from the disaster remain locked deep in the ocean a prolonged period. . . Read more »