European Goldfields reduces losses
London-based European Goldfields has said Greece would decide within three weeks on awarding the miner a permit to run two goldmines, a key project in the northern part of the country that has been delayed by a year. The company also posted a narrower pre-tax loss of $4.9m for the quarter ended 31 March. Sales rose nearly 30 per cent to $13.5m, driven mainly by higher prices of metals.