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Additional Information
Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: AFR
Latest Price: A$0.19  (0,00%)
52-week High: A$0.79
52-week Low: A$0.17
Market Cap: A$60.47M
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African Energy Resources
www.africanenergyresources.com

African Energy (ASX:AFR) owns 100% of the Sese Coal and Power Project in northerm Botswana which has a defined near-surface coal deposit containing indicated resources in excess of 2.5 billion tonnes. The entire resource is amenable to low-cost open pit mining and can produce large tonnages of both domestic power station fuel amd washed coal for regional and export sales.

Full African Energy Resources profile here
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African Energy Resources responds to ASX continuous disclosure query

15th Dec 2010, 10:05 am

African Energy Resources (ASX:AFR) has responded to an ASX continuous disclosure query.

African Energy responded to the following from the ASX:

'I refer to your letter of 14 December 2010 and with regard to the company's announcement released at 09:18 (EDST) on 14 December 2010 titled "Block-C Coal Drilling Results Exceeds Expectations".

African Energy then stated:

'The company considers the information contained in the announcement to be material to the company pursuant to listing rule 3.1.'

'The managing director, Dr Frazer Tabeart, received details of the drilling results published in the announcement via email at 01:54 (WST) on Monday 13 December 2010.'

'There was no earlier announcement from the company relating to new information contained in the announcement.'

'The board and management spent 24 hours compiling the drilling information and preparing the announcement suitable for release to the market pre-open on Tuesday 14 December 2010. Drilling results remained confidential until the release was made.'

'The company confirms it is in compliance with the listing rules, in particular listing rule 3.1.'

The announcement refers to results from Block-C at the Sese coal project in Botswana, where the average main coal seam thickness is 11 metres, with an average depth to the top of this seam of 52 metres, which the company says 'significantly exceeds previous expectations'.

Drilling at the target will be completed next week, with 43 reverse circulation and 25 diamond core holes already completed, covering around 70 square kilometres.

The initial inferred resource will be towards the end of the first quarter in 2011.

The exploration target at Sese is 1.0 to 1.5 billion tonnes of 4,000kcal/kg to 5,000kcal/kg thermal coal.

 

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