UPDATE 1-European Goldfields full-year loss narrows

* Posts record high gold concentrate sales from Olympias

* Says talks to finance Certej project are well advanced

(Adds detail)

LONDON, March 18 (BestGrowthStock) – European Goldfields (EGU.TO: )
(EGUq.L: ) said its pretax loss narrowed last year, helped by
record high gold concentrate sales from the Olympias project.

On Tuesday, the shares jumped almost 7 percent after the
company announced it had won a key environmental permit for its
Certej gold-silver project in Romania, taking it a step closer
to production in the country.

The permission process for Certej and the company’s bigger
projects in Greece have dragged on for years.

European Goldfields said on Thursday talks with a group of
financing institutions to develop Certej were well advanced.

Its pretax loss for 2009 narrowed to $8.4 million from $11.6
million in 2008.

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(Reporting by Julie Crust; Editing by Dan Lalor)

UPDATE 1-European Goldfields full-year loss narrows