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Market: FSE
Sector: General Mining - Gold
EPIC: AMQ
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Anglo-African Minerals
www.anglo-african.net

Anglo-African Minerals plc (“AAM”) is a junior exploration company focussed on African countries where changes to the political landscape have provided significant opportunities to increase shareholder value and add value to the economies in which we invest.

In Guinea AAM owns a number of exploration licences over highly prospective concessions for gold, diamonds, and bauxite adjacent to proven deposits or producing mines.

Full Anglo-African Minerals profile here
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Anglo-African Minerals completes acquisition for Sierra Leone diamond and gold assets

26th May 2010, 9:34 am Anglo-African Minerals completes acquisition for Sierra Leone diamond and gold assets

Anglo-African Minerals (FSE:AMQ) has now completed the acquisition of two Sierra Leone companies from Target Resources. Under the terms of the deal, announced only last week, Anglo-African will acquire Target subsidiaries Haliburton Overseas Ltd and Milestone Trading Ltd in return for 3 million company shares.

Jointly, the acquired businesses own one alluvial diamond mining licence and two gold mining licences, as well as an alluvial mining plant and equipment with a US$12m replacement cost. Target chief executive Dr Nissim Levy and company secretary  David Bressloff will join the Anglo-African board as part of the deal.

The company stated last week: “Dr Levy and his team have established a strong presence in Sierra Leone, a country with exciting resource potential ... The company has a large capacity to mine and process alluvial gravels along with prospective licences.”

The company is conducting a full review of its current operations in Sierra Leone, including the Gendema joint venture with Canaf SL Ltd.

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