WHITEHORSE, YUKON--(Marketwire - November 10, 2009) -
With respect to RNS Number: 2334C European Goldfields Limited would like to clarify that the Q3 2008 comparison figures in the Selected Financial Data table on page 2 have been amended. SELECTED FINANCIAL DATA Quarter ended 30 September (in thousands of US dollars, 2009 2008 except per share amounts) USD USD Statement of profit and loss Sales 17,037 16,101 Gross profit 3,563 1,393 (Loss)/Profit before income tax (1,332) (4,859) Income taxes (1,847) (451) (Loss)/Profit after income tax (3,179) (5,310) Non-controlling interest 56 267 Profit for the period (3,123) (5,043) Earnings per share (0.02) (0.03) 30 September 2009 31 December 2008 (in thousands of US dollars) USD USD Balance sheet Working capital 146,158 192,675 Total assets 749,870 766,095 For Immediate Release 10 November 2009 EUROPEAN GOLDFIELDS LIMITED RESULTS FOR Q3 2009 MAJOR PERMITTING SUCCESS IN GREECE SKOURIES CONTRACT COMPLETED STRONG GOLD SALES 10 November 2009 - European Goldfields Limited (AIM: EGU / TSX: EGU) ("European Goldfields" or the "Company") today reports its results for the quarter ended 30 September 2009. Financial highlights: - Strong base metal concentrate sales, up by 21% against Q2 2009 - Operating profits of USD3.6 million for the period, up 12% on Q2 2009 - Working capital of USD146 million - USUSD 23 million invested in projects during the quarter Operational highlights: - Greece: PEIS covering all projects and operations has been approved by the Greek State - Martyn Konig appointed Executive Chairman. Bruce Burrows joins board of Directors - Skouries: Equipment deliveries continue from Outotec - Olympias: Strong gold sales. Rehabilitation studies on the Mine and Process Plant have commenced - Stratoni: Mine infrastructure essentially complete, Process Plant operating well - Certej: Basic Engineering for the Process Plant completed - Certej: Commencement of Technical Study for application for Construction Permit Commenting on the results, Martyn Konig Executive Chairman of European Goldfields, said:"We have entered an exciting period for this Company. We aim to deliver the right valuation and performance for our Company through achieving the twin objectives of permitting and financing with a renewed and realistic approach in the coming months." European Goldfields will host a conference call at 10:00 a.m. ET / 3:00 pm (London, UK time) today to update investors and analysts on its results. Participants may join the call by dialing one of the three following numbers, approximately 10 minutes before the start of the call. From North America: (toll free) 1888 935 4575 From UK, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Sweden & Switzerland: +44 20 7806 1951 (or toll free from the UK) 0800 028 1243 Participant pass code: 5323840 A live audio webcast of the call will be available on the following link, and a replay will be available on the same link from 12:00pm ET / 5:00pm (London, UK time): http://mediaserve.buchanan.uk.com/2009/eg101109/registration.asp For further information please contact: European Goldfields: e-mail: info@goldfields.com Martyn Konig, Executive Chairman Tel: +44 (0)20 7408 9534 Buchanan Communications: e-mail: bobbym@buchanan.uk.com Bobby Morse / Katharine Sutton Tel: +44 (0)20 7466 5000 RBC Capital Markets: e-mail: sarah.wharry@rbccm.com Sarah Wharry Tel: +44 (0)20 7653 4804 SELECTED FINANCIAL DATA Quarter ended 30 September (in thousands of US dollars, 2009 2008 except per share amounts) USD USD Statement of profit and loss Sales 17,037 16,101 Gross profit 3,563 1,393 (Loss)/Profit before income tax (1,332) (4,859) Income taxes (1,847) (451) (Loss)/Profit after income tax (3,179) (5,310) Non-controlling interest 56 267 Profit for the period (3,123) (5,043) Earnings per share (0.02) (0.03) 30 September 2009 31 December 2008 (in thousands of US dollars) USD USD Balance sheet Working capital 146,158 192,675 Total assets 749,870 766,095 Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/2652C_1-2009-11-10.pdf European Goldfields' unaudited consolidated financial statements and management's discussion and analysis for the three month periods ended 30 September 2009 and 2008 are filed on SEDAR at www.sedar.com. This information is provided by RNS The company news service from the London Stock Exchange END
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