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
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
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’ stocks jump 15% as company moves to pre-development at Sese

9th Feb 2012, 5:15 am

African Energy Resources’ (ASX: AFR) shares went against the ASX trend today, gaining 15% to $A0.46, with nearly 4.3 million shares changing hands as of 3.33pm (AEDT).

The company has been on an upwards share trajectory since mid-December last year as it moves from exploration to pre-development at its Sese Thermal Coal Project in Botswana.

Last week African Energy Resources upgraded the Sese resource to over 2.5 billion tonnes of coal in the Indicated category, after more than 95% of the in-situ resource was classified.

Part of the resource is now targeted to be moved into the higher confidence Measured category in the June 2012 quarter, which will be from Blocks B and C.

African Energy is currently focused on completing a Bankable Feasibility study by the end of 2012, along with mining licence approvals and financing negotiations, ahead of first coal sales from stage one in mid-2013.

The defining factor for Sese is that the entire deposit is amenable to open-cut strip mining, with low risk and low costs, and mining blocks are around 500 metres by 200 metres.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.