Stocktube video
04/05/2011

Mark Parker from African Eagle says it may IPO non-core assets by year end

View full size
Additional Information
Market: AIM
Sector: General Mining - Nickel and Cobalt
EPIC: AFE
Latest Price: 7.38p  (-4.77% Descending)
52-week High: 16.25p
52-week Low: 5.13p
Market Cap: 33.59M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
African Eagle Resources
www.africaneagle.co.uk/default.asp

African Eagle is a UK-incorporated mineral exploration and development company operating in Zambia, Tanzania and Mozambique. These countries all have highly prospective geology, low above-ground risks and track records of successful major investments in the metals and minerals industries.

Pdf

African Eagle reports solid progress at Dutwa Nickel Project in Tanzania

20th Oct 2009, 8:01 pm African Eagle reports solid progress at Dutwa Nickel Project in Tanzania

African Eagle (AFE), a diversified mineral exploration and development company operating in eastern and central Africa, announced on today that the company had made significant progress at its Dutwa Nickel project in Tanzania, with the current drill campaign well underway.

The scoping study for the project (delivered end of July) indicated a likely Internal Rate of Return of some 25%. Net Present Value Estimates (at nickel price of around $8/lb) run at just around US$530 million.

African Eagle’s successful placing in August raised £3.3 million towards funding further studies and progressing the project towards feasibility.

The company has also begun a programme of approximately 60 infill and step-out drill holes on the main nickel deposit at Wamangola Hill.

250 kilograms of drill core have been despatched to Mintek Laboratories in South Africa for the second phase of metallurgical test work. This work will help determine the best extraction process.

The company says it has begun the process of transformation from an exploration group into a nickel development and mining company.

African Eagle carries £1.4m of cash on its balance sheet (at 30th June 2009) with not debt. Liquidity is good, at current ratio of 4.8. Capital Expenditure in six months to 30th June 2009 amounted to just over £0.5 million.

Shares currently trade at 4.76 pence, giving a market capitalisation of £14.1m.

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.