European Goldfields Ltd. is an EU focused, Whitehorse

Whitehorse, Yukon

Whitehorse is Yukon's capital and largest city . It was incorporated in 1950 and is located at kilometre 1476 on the Alaska Highway in southern Yukon. Whitehorse's downtown and Riverdale areas occupy both shores of the Yukon River, which originates in British Columbia and meets the Bering Sea in...

 based Canadian precious metals company engaged in gold, silver and copper exploration

Mineral exploration

Mineral exploration is the process of finding ore to mine. Mineral exploration is a much more intensive, organized and professional form of mineral prospecting and, though it frequently uses the services of prospecting, the process of mineral exploration on the whole is much more involved.-Stages...

, development and production. The mining rights it owns to land in Greece, Romania and Turkey gives it access to over 10 million ounces of 2P gold reserves in addition to over 80 million ounces of silver.

Frank Timiş

Frank Timis

Frank Timiş is a Romanian-Australian businessman living in London, with interests in mining and oil extraction industries. The Sunday Times Rich List estimated his wealth at £162m , making him the 497th richest person in Britain...

, the 9th richest Romanian was a major shareholder in the company from 2000 to 2006 (his share ranged from 15% to 18.9%); it was from him that the company acquired 21% of its 95% interest in Hellas Gold. Ellaktor

Ellaktor

Ellaktor SA is a multinational Greek construction group with operations spanning various sectors of public and private development in ten countries...

, Greece's biggest construction and civil engineering company, owns 19.36% of European Goldfields and is also the owner of all outstanding shares of Hellas Gold (5%).

Operations

European Goldfields has two main subsidiaries, Hellas Gold (Greece) and Certej (Romania). Hellas Gold (awaiting a mining permit) primarily engages in the selling of gold that has already been mined, though it engages in light mining Chalkidiki.

Turkey - Joint ventured with Aldridge Minerals, exploration occurs in the area of Ardala.

Greece

• Stratoni - silver, lead and zinc located in northern Greece. 16-22% of the ore is lead and zinc while the rest is silver, operates both above ground and underground.
• Skouries - Nearly 4 million ounces of gold and 1 megaton of copper, is a development phase project. Located 25 km from Stratoni. Production will involve a flotation plant and dore.
• Olympias - another polymetallic resource that has 3.5-4 million ounces of gold, 52 million ounces of silver, also has significant resources of lead and zinc. Subsidiary Hellas Gold currently operates there as a seller of existing, stockpiled gold.

Romania

• Certej Mine
  Certej Mine
  The Certej Mine is a large open pit mine in the west of Romania in Hunedoara County, 12 km north of Deva and 382 km north of the capital, Bucharest. Certej represents a large gold and silver deposit with estimated reserves of 2.1 million oz of gold and 12 million oz of silver...
  
  (80% owned) - A developmental project located within Transylvania in the area of the Apuseni Mountains. Operated by subsidiary Deva Gold S.A.. Reserves are over 2 million ounces for gold and 17 million ounces for silver. Production last occurred in 2006. There are also 2 major exploration projects near Certej that Goldfields is involved in.