May 13, 2010 / 7:05 AM / in 8 years

UPDATE 1-European Goldfields Q1 loss widens

* Losses after tax widened to $6.3 million from $3.4 million * Expects to secure final permits in Greece, Romania in 2010

(Adds details)

LONDON, May 13 (Reuters) - European Goldfields EGU.TO EGUq.L posted wider losses in the first quarter as the gold producer sold no gold concentrates from its Olympias project in Greece.

Losses after tax widened to $6.3 million from $3.4 million in the year-earlier period.

The company reiterated that it expects to receive permits for all of its projects in 2010 after years of delays.

“We remain on course to reach our targets of securing final permits in both Greece and Romania within the year,” said Chairman Martyn Konig.

Reporting by Julie Crust; editing by Sarah Young

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