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European Goldfields, African Minerals, Metminco news briefs

European Goldfields Ltd announced that the Supreme Court of Yukon has granted the Company an interim order to commence the process of securing the required approvals pursuant to which Eldorado Gold Corporation will acquire all of the issued and outstanding securities of the Company via a plan of arrangement under the Yukon Business Corporations Act. The Arrangement is expected to close on or about February 24, 2012 and it is expected that the common shares of the Company will be delisted from the TSX and AIM as soon as practical thereafter.

African Minerals Ltd announced the launch of a book-build offering of up to US$350 million of Convertible Bonds due 2017. The Company intends to use the net proceeds of the Offering primarily for the continued expansion of production at its Phase I Tonkolili iron ore operation to 20 million tonnes per annum. The Bonds are expected to have a coupon of 8.50% payable semi-annually in arrear and will be convertible into fully paid ordinary shares of the Company. The conversion price is set at US$10.98 being GBP 7.00 converted into US$ at today's exchange rate. The Company may increase the US$300 million issue by up to US$50 million.

Metminco Limited announced its quarterly activities report for the 3 months to December 2011. The Phase 3 drilling program at Los Calatos was completed during Q4 2011. Final results from the Phase 3 drilling program completed in Q4 2011 include: 1,220 m @ 0.36% Cu, 153 ppm Mo, 347 m @ 1.03% Cu, 103 ppm Mo.