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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.

Pdf

African Energy Resources chairman tops-up shareholding

4th Dec 2011, 11:44 pm

African Energy Resources (ASX: AFR) executive chairman Alasdair Cooke acquired 200,000 shares on market at $0.281 per share on 29 and 30 November .

The shares were purchased for a consideration of $56,302 and Cooke now holds 11,281,389 ordinary shares.

On November 21 African Energy Resources was rated a speculative buy by Helmsec Global Securities, based on the company’s large near-surface Sese coal project, which has been valued at $1 per share.

In September, results from a Concept Study confirmed the technical and commercial viability of the project, with robust cash flows and strong operating margins a possibility.

A 2.7 billion tonne coal resource has been identified at Sese, with a Feasibility Study for initial development underway.

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