Mark Rachovides Appointed as Non-executive Director
29 March 2007 - European Goldfields Limited (TSX / AIM: EGU) (the "Company") is pleased to announce the appointment of Mark Rachovides as a non-executive director of the Company.
Mark Rachovides, aged 44, is currently Vice President, Europe at Dundee Resources Limited. He formerly spent 11 years at the European Bank for Reconstruction and Development (EBRD) leaving as a Senior Banker in the Natural Resources Team where he was responsible for mining investments. He is currently working on a variety of projects in the Former Soviet Union (FSU) and Eastern Europe. He is also Lead Director of High River Gold Mines Limited, a Canadian mining company operating in Russia and Africa and until recently was also a Director of OJSC Buryatzoloto, a mining company in Russia. He led the EBRD's financing of several major mining projects, including the Kubaka Project in Russia, the Zarafshan-Newmont project in Uzbekistan and the Chelopech project in Bulgaria. He has also led oil and gas financings in the Balkans and the FSU. He has also written a number of articles and conference presentations for the LBMA, the World Gold Council, PDAC, the Mining Jo
urnal, the Russia-Canada mining group and other bodies. He has twenty-two years' experience in banking and finance, an MA from Oxford University and is an Associate of the Chartered Institute of Bankers.
Commenting on the appointment, David Reading, Chief Executive Officer of European Goldfields, said: "We are delighted to welcome Mark to our team. His credentials as a specialist in our region of operations and as an investment banker make him a strong addition to our board. Mark's reputation and experience will be invaluable in growing our company into a mid-tier producer in South-East Europe."
Concurrently with his appointment, the Company granted to Mark Rachovides an option to purchase 250,000 common shares of the Company pursuant to its share option plan. The option expires in March 2012 and is exercisable, in whole or in part, at a price of C$5.66 per share. The option vests in three equal tranches over a three-year period. Mr. Rachovides does not hold any common shares of the Company. There are no other matters under paragraph (g) of Schedule 2 of the AIM rules to be disclosed.
About European Goldfields
European Goldfields is a resource company involved in the acquisition, exploration and development of mineral properties in Greece, Romania and South-East Europe.
Greece - European Goldfields holds a 65% interest in Hellas Gold S.A. Hellas Gold owns three major gold and base metal deposits in Northern Greece. The deposits are the polymetallic projects of Stratoni and Olympias which contain gold, zinc, lead and silver, and the Skouries copper/gold porphyry body. Hellas Gold commenced production at Stratoni in September 2005 and selling an existing stockpile of Olympias gold concentrates in July 2006. Hellas Gold is applying for permits to develop the Skouries and Olympias projects.
Romania - European Goldfields owns 80% of the Certej gold/silver project in Romania. European Goldfields submitted in March 2007 a technical feasibility study to the Romanian government, in support of a permit application to develop the project.
For further information please contact:
European Goldfields:
David Reading, Chief Executive Officer
Office: +44 (0)20 7408 9534
website: www.egoldfields.com
e-mail: info@egoldfields.com
Buchanan Communications:
Bobby Morse / Ben Willey
e-mail: bobbym@buchanan.uk.com
Office: +44 (0)20 7466 5000
Renmark Financial Communication:
Neil G. Murray-Lyon : nmurraylyon@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Media - Eva Jura : ejura@renmarkfinancial.com
Office: +1 514 939 3989
Fax: +1 514 939 3
717 
WEBSITE: WWW.RENMARKFINANCIAL.COM
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European Goldfields
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PRODUCER |
CODE : EGU.L |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
European Goldfields is a gold producing company based in United kingdom. European Goldfields produces gold, lead, silver and zinc in Greece, develops copper, gold and silver in Greece and in Romania, and holds various exploration projects in Romania. Its main asset in production is STRATONI in Greece and its main assets in development are SKOURIES and OLYMPIAS in Greece and CERTEJ in Romania. European Goldfields is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 147.8 billions as of today (US$ 232.7 billions, € 174.0 billions). Its stock quote reached its lowest recent point on December 05, 2008 at GBX 100.00, and its highest recent level on January 28, 2011 at GBX 990.40. European Goldfields has 183 932 000 shares outstanding. |