Welcome to Carnegie Minerals Plc



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Carnegie Minerals Plc is an international company quoted on the London Stock Exchange (AIM market code CME, warrant code CMW). The Company was established to develop the SeneGambia Mineral Sands Project and participate in new resource opportunities worldwide.

The SeneGambia Mineral Sands project is a cross border project extending along the coastlines of The Gambia & southern Senegal. It will produce zircon / rutile concentrate for sale at the mine gate. Carnegies 50 / 50 project partner and offtake partner, Astron Ltd then ship the concentrates (bulk in containers) to China for final processing. Washed sand by product is also planned to be sold into the local construction industry. The project is in the construction phase, with first significant concentrate shipments scheduled for the first quarter of 2007.

Carnegies Directors and executive team have considerable experience in acquiring and developing resource projects around the world. This includes extensive Africa experience and operations involving precious metals, precious stones, industrial minerals as well as oil & gas. Their far reaching international network of relationships with individuals, companies and Governments provides a platform for future growth opportunities.



http://www.carnegiemins.com/home.php

http://www.carnegiecorp.com.au/home.php

Carnegie(corp) develops clean energy technologies such as the recently acquired Cleaner Coal Power technology. This follows on from the successful Wave Energy and Pursuit Drive developments.
Carnegie is currently conducting due diligence on a number of revenue-producing clean energy projects globally.

Two good sites with lots if information and photographs : )

Thursday May 24th: ABC Catalyst presents People Power



Immediately following the ABCs documentary CRUDE on Thursday night which spans 160 million years of the Earth's history to reveal the story of oil, is a special CATALYST EXTRA program showcasing Inspiring people from all over Australia tackling the threat of climate change. We are pleased to say that Carnegie Corporation Chairman Alan Burns and the CETO Wave Energy technology will be highlighted during the program.



Also, the Carnegie website has been updated with recent Press Coverage from ABC TV, The Bulletin, DK Renewable Energy Weekly Research Note, The Daily Telegraph, The West Australian and others.

Carnegie Minerals plc
05 June 2007


5 June 2007


Carnegie Minerals Plc ('Carnegie' or the 'Company')

Ore Reserve Statement for Niafarang deposit explored in southern Senegal

Carnegie Minerals Plc (CME), the mineral sands resource company with production
interests in The Gambia and advanced exploration in adjoining Senegal, is
pleased to announce it has now received the independent ore reserve statement
for the recently drilled Niafarang deposit in southern Senegal.

Highlights

Carnegie has obtained an independent Ore Reserve Statement for the first
mineral sands deposit explored in southern Senegal

The Probable Ore Reserve contained within the Indicated Mineral Resource
for the Niafarang deposit is 3.4 million tonnes of sand at an average grade
of 16.0% total heavy minerals (THM)

The Niafarang ore reserve is classified in the Probable Ore Reserve
Category as defined by the JORC Code 2004

The Niafarang ore reserve effectively doubles the size of the developing
mining operations in the Company's SeneGambia mineral sand project

Carnegie's exploration team continues test drilling of geophysical
targets in southern Senegal

As a percentage of the total heavy minerals, the economic mineral content is
75.4% ilmenite, 13.6% zircon, 2.3% rutile and 0.4% non-magnetic leucoxene.

Probable Ore Reserve
Sand Grade Mineral Assemblage % of THM
(MT) (% THM)
Ilmenite Zircon Rutile Leucoxene
3.4 16.0 75.4 13.6 2.3 0.4

Carnegie's exploration team is currently undertaking an air-core test drilling
programme of priority exploration areas identified by the high-resolution
airborne magnetic and radiometric survey carried out by the Company in late
2006.

Alan Hopkins, Managing Director of Carnegie commented:

'We are very encouraged by this ore reserve statement, as the addition of the
Niafarang reserves effectively doubles the mineable part of the resource of the
SeneGambia project. Being only 4 kilometres from the southernmost part of our
Gambian resource interests it is a welcome addition to the overall project.

'With exploration drilling now underway over the new geophysical exploration
targets in the licence area in Senegal, we are rapidly moving to an
understanding of the final scale of the whole project'.

- Ends -

For further information, call:

Alan Hopkins, Managing Director, Carnegie Minerals Plc 020 7831 3113
Romil Patel / Olly Cairns, Blue Oar Securities Plc 020 7448 4400
Billy Clegg/Edward Westropp, Financial Dynamics 020 7831 3113


Notes to editors:


Carnegie only listed on AIM in August 2006. It has already brought into full
production three dredges and is on track to meet its 2007 production targets in
The Gambia. It has completed a high resolution airborne geophysical survey over
the Southern Senegal licence area, generating a number of targets for test
drilling, which are now being drilled.


All exploration in Senegal is 50% co funded by Astron Ltd (the largest
independent buyer of zircon in China), with the emerging production in The
Gambia fully funded by Astron Ltd (a 50% partner in each project).



















PERTOLA Pty Ltd

Consultant Mining Engineers

78 Wilson Street, Bassendean WA 6054


NIAFARANG HEAVY MINERAL DEPOSIT, SENEGAL


ORE RESERVE STATEMENT


The Niafarang Heavy Mineral Deposit, located in Senegal within the Exclusive
Exploration Licence dated 26 November 2004, is held by Coast Resources Ltd, a
wholly owned subsidiary of Carnegie Minerals Plc.


Mineral Resource Model

Carnegie Minerals Plc provided the mineral resource model. The resource model
was supplied as regular block model which was compiled by Micromine Pty Ltd
under the supervision of consulting geologist Mr. Michael Shepherd who provided
the resource statement as follows:


'The Indicated Mineral Resource for the deposit, at a cut-off of 1% THM, is a
total of 4.8 million tonnes of sand at an average grade of 12.4% total heavy
minerals. As a percentage of the total heavy minerals, the economic mineral
content is 75.2% ilmenite, 13.7% zircon, 2.3% rutile and 0.4% non-magnetic
leucoxene. The average slimes content for the deposit is 2.2%.'


Indicated Mineral Resource
Sand Grade Mineral Assemblage % of THM
(MT) (% THM)
Ilmenite Zircon Rutile Leucoxene
4.80 12.4 75.2 13.7 2.3 0.4



Ore Reserve Estimation

Estimation of the Niafarang ore reserve has been based on mining methods, mining
ore loss, mining dilution, mineral recovery factors, cost assumptions and
product revenue rates currently in use for Carnegie's existing mining operations
in The Gambia. Where necessary, costs have been modified to reflect the
increased trucking distance for HMC and variations in government royalty
payments.


It has been assumed mining will be undertaken using a number of small dredging
units with the heavy mineral concentrate being trucked to a Concentrate Upgrade
Plant located in The Gambia. Processed magnetic and non-magnetic concentrates
are then shipped to China via the port of Banjul.


The Probable Ore Reserve contained within the Indicated Mineral Resource for the
Niafarang deposit is 3.4 million tonnes of sand at an average grade of 16.0%
total heavy minerals. As a percentage of the total heavy minerals, the economic
mineral content is 75.4% ilmenite, 13.6% zircon, 2.3% rutile and 0.4%
non-magnetic leucoxene.



Probable Ore Reserve
Sand Grade Mineral Assemblage % of THM
(MT) (% THM)
Ilmenite Zircon Rutile Leucoxene
3.4 16.0 75.4 13.6 2.3 0.4


Ore reserve calculations qualify as 'Probable' as defined by the 2004 Edition of
the 'Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves' (The JORC Code 2004).


Competent Person

The description of the Niafarang Ore Reserve is based on information compiled by
David Merkley who is a Member of the Australasian Institute of Mining and
Metallurgy, and is Principal of Pertola Pty Ltd, Consultant Mining Engineers.
David Merkley has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which
he is undertaking, to qualify as a Competent Person as defined in the JORC Code
2004. David Merkley consents to the inclusion in the Report of the matters based
on information in the form and context in which it appears.






Pertola Pty Ltd

Friday, 1st June 2007.





Glossary of terms



'Heavy a term given to minerals that have a specific gravity above 2.9
minerals' or gm per cc
'HM'
'Ilmenite' a black or dark brown iron and titanium oxide mineral which is a
major source of titanium
'Leucoxene' a fine granular alteration product of titanium minerals
'Rutile' a yellow, red or brown titanium oxide mineral which is a major
source of titanium
'THM' total heavy material
'Zircon' zirconium silicate, a colourless, brown or grey zirconium
silicate mineral which is a major source of zirconium

Carnegie Minerals plc
16 July 2007



Carnegie Minerals Plc ('Carnegie' or the 'Company')

Substantial Drilling Programme Completed in Southern Senegal


Carnegie Minerals Plc (AIM - CME), the mineral sands resource company with
production interests in The Gambia and advanced exploration in adjoining
Senegal, is pleased to announce it has now completed a significant drilling
programme in its Southern Senegal licence area and is sending all sand samples
with visually noticeable heavy mineral grades for assaying at independent
laboratories in Australia.


Drilling - Southern Senegal


Carnegie's exploration team has successfully completed a two-month, 8,000 line
metre drilling programme in Southern Senegal, using Wallis Drilling's air-core
rig. Drilling was focused on testing linear magnetic and radiometric exploration
targets, identified by the high-resolution airborne survey carried out by the
Company in late 2006.


In the northern part of the Company's licence area, near the recently explored
Niafarang deposit, 502 holes were drilled to an average depth of 8 metres.
Additionally 168 holes were drilled at a high dune area near Cap Skiring in the
south to an average depth of 23 metres.


All drill holes were sampled at 1.5 metre intervals and all sand samples with
visually noticeable heavy mineral grades are being sent for assaying at
independent laboratories in Australia, after preliminary processing in Senegal.


Based on the assaying results, Carnegie will plan follow-up exploration in both
the northern and southern parts of the licence area, as well as drill testing
the eastern part that was not able to be drilled during this programme due to
the onset of the rainy season. Carnegie has already started negotiations on the
return of an air-core drilling rig to Southern Senegal for this work during the
coming dry season.


Carnegie Minerals Managing Director, Alan Hopkins, said:


'The completion of this phase of the exploration drilling programme in Southern
Senegal is another significant milestone for the Company. We are looking forward
to getting the laboratory results, as this area holds significant potential to
expand the scale of this cross border project.


'With our capability building in our production area at Sanyang South, and the
completion of the Southern Senegalese exploration drilling, Carnegie is now
poised to build a strong value platform for shareholders.'


- Ends -

Carnegie Minerals says completes drilling in southern Senegal licence area
AFX


LONDON (Thomson Financial) - Carnegie Minerals PLC said it has completed the drilling in its southern Senegal licence area and is sending all sand samples for assaying at independent laboratories in Australia.

The mineral sands deposits exploration company said the drilling was focused on testing linear magnetic and radiometric exploration targets.

The AIM-listed company said based on the assaying results it will plan a follow-up exploration in the northern and southern parts of the licence area and the drill testing of the eastern part.

Carnegie said it has started negotiations on the return of an air-core drilling rig to Southern Senegal for the work in the coming dry season.

TFN.newsdesk@thomson.com

ash/bsd

Carnegie Minerals plc
27 July 2007


27th July 2007

Carnegie Minerals PLC ('Carnegie Minerals')

Result of AGM

Carnegie Minerals, the AIM listed mineral sands exploration and production
company operating in West Africa is pleased to announce that all the resolutions
put to shareholders at the Annual General Meeting held earlier today were duly
passed.

Ends

Please follow the link below to Carnegie Corporation Limiteds website to read Carnegies latest announcement.

Highlights

a Share Purchase Plan partially underwritten to $3 million; and

a $7 million Private Placement.



Carnegie Corporation Ltd - Home

http://www.carnegiecorp.com.au/home.php

Carnegie Minerals plc
26 September 2007

26 SEMPTEMBER 2007

CARNEGIE MINERALS PLC
('Carnegie' or the 'Company' and its subsidiaries together 'the Group')

INTERIM RESULTS
For the period ended 30 June 2007

Carnegie Minerals Plc (AIM: CME), the AIM listed miner and explorer of
industrial minerals in West Africa, is pleased to announce its interim results
for the period ended 30 June 2007.

HIGHLIGHTS

The Gambia

Official mine site opening in July 2007 by Her Excellency Isatou Njie
Sadie, Vice President of The Gambia

Three dredges commissioned through to the half-year end with the
fourth commissioned this month

Production of heavy mineral concentrate in line with our estimates
during this start up phase

Senegal

Mining reserve defined at the Niafarang deposit near the Gambian
border

Exploration drilling completed in southernmost part of the licence.
Initial results imminent



FINANCIAL HIGHLIGHTS

Gambian joint venture entity revenue of 417,522 with Group revenue of
55,750

Gambian Joint venture entity had a maiden profit of 95,856 with CME
Group loss of 420,507 for the six months

Closing cash balance was 771,009 as at 30 June 2007



Alan Hopkins Managing Director said:

'We have made good progress bringing the wet mining and primary processing
facilities into production in The Gambia. As each unit has been brought on
stream, production and revenues have increased incrementally. This is
establishing a solid financial platform for the repayment of the partner
provided project finance utilised in developing this project. With the
secondary processing plant coming on stream in April 2008, followed by the plan
to bring into production the additional reserves over the border in Senegal in
early 2009, we are on track for steadily increasing production, revenues and
cash flow. We value the support provided during this start up phase, and with
this ongoing support, we look to the future with confidence'.



CHAIRMAN AND CHIEF EXECUTIVE'S REPORT

On behalf of the Board we are pleased to provide this interim report for the
Company and its subsidiaries (together the 'Group'), for the six months ended 30
June 2007.

Financial Review

During this start up period to 30 June 2007, we recorded revenue of 77,933
comprising management fees, interest income and our 50% share of The Gambian
joint venture entity's profit. Our Gambian joint venture entity had turnover of
417,435 and a stockpile of 21,410 tonnes of heavy mineral concentrate ready for
sale as at 30 June 2007. Production, while modest for this initial period, is in
line with our forecasts for this stage of the Gambian project's development.

Overall, the Group recorded a loss after tax for the period of 420,507 through
this period of project start up. The Gambian joint venture entity had a profit
of 95,856 for the six month period. Cash at bank as at 30 June 2007 was
771,009.

The scale of the business has increased during the period as a result of the
positive exploration outcome from the Niafarang area of our license adjacent in
Senegal. This established additional resources enabling higher production
targets to be set for 2009 and onwards. The Group has invested heavily during
this start up year in both its support of its production capability in The
Gambia, and also the establishment of further resources in adjoining Senegal.

Operational Review

The period since 1 January 2007 has seen the development of the mining
activities in The Gambia in parallel with the undertaking of exploration
activities in adjoining Senegal.

Mine Development and Mining Activity in The Gambia

During the period, we have constructed and brought into production three
additional wet mining and primary processing units, established water bores for
three separate mining areas, upgraded roads to all sites, and recruited and
trained an additional 105 workers, bringing the total workforce to 150 in The
Gambia. A mine site office complex, including workshops, laboratories and stores
facilities was officially opened by the Gambian Vice President, Her Excellency
Isatou Njie Sadie, on 24 July 2007 and the ongoing excellent relationship with
The Gambian authorities is of great assistance to the project.

While production is on schedule, the processing of the primary combined
concentrates into magnetically separated product is now scheduled for completion
by April 2008. Prior to this fully processed product being available for sale,
we have entered into an interim arrangement with our off take partner to buy the
combined primary concentrate. This generates earlier revenues but the pricing
achieved during this interim stage will be necessarily lower than will apply to
final product. Overall, the Group's target for the year ended 31 December 2007
is to produce 15,000 tonnes of secondary non magnetic (i.e. zircon / rutile)
concentrate. This equates to 77,000 tonnes of primary combined concentrate which
we are on target to achieve.

Exploration

During the period, the Group completed the evaluation of the earlier drilling at
the Niafarang deposit in Senegal (just south of the Gambian border) and obtained
JORC-compliant independent estimates for a resource and mining reserve statement
for this deposit. It is planned for an environmental impact study to be
commissioned and to convert this exploration area to a mining title so that
mining can commence early in 2009.

In addition to the evaluation of the Niafarang deposit, the Group completed 8000
meters of exploration drilling over some priority targets identified by the
airborne geophysical survey undertaken in October 2006. The results of this
drilling will be released to the market as soon as they are available. Any
positive intersections are planned to be followed up by drilling early in 2008
when the rig is remobilised to complete the drilling of additional priority
exploration targets that have yet to be tested.

Outlook

We have made very good progress with the construction and bringing into
production the wet mining and primary processing facilities in The Gambia. As
each unit has been brought on stream, production and revenues have increased
incrementally. This is establishing a solid financial platform for the timely
repayment of partner provided project finance utilised in the development of The
Gambian project. With the secondary processing plant coming on stream early next
year, followed by the plan to bring into production the additional reserves over
the border in Senegal in early 2009, we are on track for steadily increasing
production, revenues and cash flow. We have also been offered other
opportunities for further expansion, which are currently being evaluated. We
value the support provided during this start up phase, and with this ongoing
support, we look to the future with confidence.

Alan R Burns
Chairman

Alan G Hopkins
Managing Director


Registered Office

The Company also announces that it has changed its registered office to 1
Arbrook Lane, Esher Surrey KT10 9EG.


END

For further information please contact:

Alan G. Hopkins (Carnegie Minerals Managing Director),

enquiries@carnegiemins.com

Olly Cairns (Blue Oar Securities Plc), T: +61 (0) 8 6430 1631

Billy Clegg / Edward Westropp (Financial Dynamics), T: +44 (0) 20 7831 3113

The Carnegie Minerals Website is
www.carnegiemins.com

Carnegie Minerals plc
27 September 2007


27 September 2007



Carnegie Minerals Plc ('Carnegie' or the 'Company')



Interim Drilling Results Southern Senegal



Carnegie Minerals Plc (AIM - CME), the mineral sands resource company with
production interests in The Gambia and advanced exploration in adjoining
Senegal, is pleased to announce that it has received results from heavy mineral
(HM) drilling analysis of 718 drill samples from 3 drilling lines (1, 2 and 8).
These lines represent 1,311 line metres of drilling or 34% of the southern area
of the licence and 16% of the total 8,000 line metres of drilling undertaken
over both the southern and northern areas.



Highlights



* Exploration drilling intersects mineralised zone in previously untested
area


* Mineralised intersections thicker than previously encountered in the
project area


* 84% of drilling results still to be processed


The results received to date revealed a mineralised zone that was intersected
over a distance of 330 m by Line 1 across one of the high dune areas that
stretches parallel to the coast for about 2.3 km. The mineralised zone was
intersected by 10 holes from the surface to an average depth of 12.5 m and the
individual air-core drill holes sampled at 1.5 metre intervals showed a weighted
average grade from 2.1% to 4.7% total heavy minerals (average 3.4% HM) with the
average slime content varying from 5 to 20 % (average 14%).


In the central part of this zone its thickness was 18 m at a weighted average
grade of 3.5% HM (including surface 4.5 m interval at 8% HM). The intersected
mineralised zone coincides with an airborne radiometric anomaly as well as an
extensive linear magnetic feature extending parallel to the coast. The edge of
this zone was also intersected from the surface to the depth of 12 m by two
drill holes at Line 2 where the weighted average HM grade was about 2.5%. Some
surface HM accumulations have also been intersected by Line 8 in a low dune area
(up to 3 m thick at 5.1% HM).


Alan Hopkins, Managing Director of Carnegie Minerals plc, said:

'The heavy mineral intersections in this previously untested southern part of
the tenement are encouraging and we look forward to receiving the results for
the remaining drilling samples.

'This latest set of test results provide further evidence of the prospectivity
of the southern Senegal region, following the successful exploration of the
Niafarang area, at which production is planned for early 2009.'

LONDON (Thomson Financial) - Carnegie Minerals PLC said it has found 'heavy' mineral intersections in their project area in Senegal.

The mineral sands resource company said the results were received from heavy mineral drilling analysis of 718 drill samples from 3 drilling lines.

These lines represent 1,311 line metres of drilling or 34 pct of the southern area of the licence and 16 pct of the total 8,000 line metres of drilling undertaken over both the southern and northern areas, it said.

The mineralised intersections are thicker than previously encountered in the project area and about 84 pct of the drilling results are still to be processed, the company added.

Carnegie Minerals plc
30 October 2007


30 October 2007



Carnegie Minerals Plc ('Carnegie' or 'the Company')

Senegal licence renewal and update


Highlights


Senegal exclusive exploration licence renewed for three years

First steps taken to convert portion of licence to mining title


The Directors are pleased to advise that the Minister of Mines and Energy has
approved the renewal of the Company's exploration licence in Southern Senegal
for a further three years.


Carnegie, the mineral sands resource company with production interests in The
Gambia and advanced exploration in adjoining Senegal, has received confirmation
that its renewal of the exclusive exploration licence for southern Senegal has
been approved. In accordance with Senegalese mining legislation, Carnegie
surrendered some already explored areas amounting to approx. 27% of the original
licence area and retained approx. 550 km2 for further exploration. Carnegie
proposed an exploration programme and budget of US$1 million, allocated mostly
for follow up drilling at some already identified mineralisation areas as well
as drill testing of yet untested exploration targets in Southern Senegal.


As part of the immediate work programme, the Company intends to convert a
portion of the exploration licence into a mining title over the Niafarang
deposit where it has already estimated a Probable Ore Reserve as defined by the
JORC Code 2004. Carnegie negotiated the licence conversion procedures with the
Senegalese Department of Mines and Geology in September 2007 and has
commissioned an independent and reputable Senegalese consulting firm for the
statutory environmental impact assessment (EIA) of the Niafarang mining project
as the first step in the licence conversion process.


Subject to the timely statutory approvals and equipment procurement, the Company
plans to bring the Niafarang deposit into production in early 2009.


Carnegie Managing Director Alan Hopkins said:


'The renewal of the exploration licence provides a solid platform for the
Company's planned follow up drilling of the recently announced positive
exploration results from this area. The commissioning of the EIA consultant is
the first step in bringing the recently explored new deposit at Niafarang into
production and continues the progress being made to incrementally increase this
project's scale and mine life.

Do you hold these Smiler? i have a smallish position but will be interesting to see if these gain momentum....

You're up early !!!! looks a good set up me thinks !

well, interesting..... i know a friend who has put some of his own money in. SP performance so far been stagnant, but early days and off the radar it seems.

Not for long may be...!!! Glad to get in at 6p !!

Carnegie Minerals plc
01 November 2007



1 November 2007


Carnegie Minerals Plc ('Carnegie' or the 'Company')


Carnegie Signs Iron-Nickel Exploration Agreement


Carnegie Minerals Plc (AIM - CME), the mineral sands resource company with
production interests in The Gambia and advanced exploration in adjoining
Senegal, is pleased to announce it has entered into an agreement with Western
Australian based private resource exploration company, Asia Resources 168
Limited (ARL), to fund a staged exploration programme for iron and nickel
laterite mineralisation on the island of Obi, Indonesia. ARL holds interests in
a SKIP licence (temporary prospecting permit) in the southern part of Obi Island
and plans to apply for further areas identified by Carnegie.


Carnegie has agreed to fund staged exploration and evaluation programmes to the
extent of the first USD 1 million at which point it will be deemed to have
earned a 50% interest in the CME - ARL OBI Island Project. Carnegie has the
right to withdraw at any stage prior to expending this amount, however will
retain no equity in the Project. Carnegie shall be the operator undertaking the
exploration work with ARL responsible for logistics and local government
relations.


Obi Island is situated midway between Irian Jaya and Sulawesi. It is part of the
Sulawesi - Halmahera ophiolitic belt that hosts some substantial nickel laterite
deposits including some under development and in production and is considered
highly prospective for new discoveries.

Carnegie operations suspended!

Information HERE

Technical Assistance on Mining Matter for The Gambia *new*

Technical Assistance is being provided to the Government of The Gambia in preparing model prospecting and mining licences under the new mining law of Gambia. This was a recommendation from earlier assistance provided by the Commonwealth Fund for Technical Cooperation in 1999-2001. The project will also be reviewing and advising on applications from an Australian mining company, for licences to carry out mineral operations, including mining of heavy minerals and exploration.

SASD will assist The Gambia to develop model licences/agreements containing terms consistent with the new Mines and Quarries Bill awaiting enactment and other relevant legislation. Model licences/agreements set out a basis on which the Government grants mineral rights to explore for and mine minerals in The Gambia and are essential for the promotion of mineral investment.

SASD will also assist The Gambia to carry out a review of the applications received from the Australian mining company for prospecting and mining licences in order to identify and comment on any legal, economic and technical issues and provide support to the Government in negotiating licence terms. The negotiation of terms acceptable to both parties will allow investment to proceed and send out a strong positive signal to the international investment community.

Of Interest :

The Gambia, a small enclave surrounded by Senegal on the west coast of Africa, has little to offer in the commodities sector, apart from heavy mineral sands which were last mined in the 1950s. At a 3% cut-off, the resource is estimated at containing 9 Mt grading 8.6% heavy minerals. The heavy mineral concentrates average 70% ilmenite, 15.9% zircon, 3.3% rutile and the remainder gangue. However, it is not known to what extent the palaeo beach deposits have been investigated. Australian Carnegie Corporation is currently investigating the Brufut deposits located along the coast. Here a stockpile of some 11 000t of zircon has been acquired, along with an identified resource containing approximately 900 000t. The Government of Gambia has a 49% interest in the venture.

Other than this, The Gambia produces industrial minerals for local consumption.

Mineral Policy and Legislation

Since the 1950s when mining of the known deposits of titaniferous beach sand was stopped, there has been no mining activity of any scale in Gambia. The emphasis of the governments policy has therefore been on conducting geological surveys, investigations and explorations in order to ascertain the mineral resources potential of the country as well as the planning of their exploitation.

A new Mineral and Mining Act is being considered for promulgation shortly. The provisions of the Act will include, rules to govern the operations relating to the exploration, prospecting and mining of the available mineral resources of the country and the regulation of such operations as regards the payment of fees e. g. rent and royalties; prospecting licence and prospecting right as well as mining right and water right. The secretary of State responsible for mining activities will be the main authority for the determination of the various rates to be paid in respect of royalties and fees.

All land and mineral resources therein belong to the State and their exploitation and use are controlled by the competent government departments, namely the State Department of Trade, Industry and Employment. Mining rights, in particular, will be granted under the provisions of the proposed legislation of State Department charged with responsibility for mining activities.

The existing conditions governing mining operations are as follows:

License Types



Exploration Permit ... Mining Lease


Period 1 year . .. ... . 25 years



Renewal 1 year . .. ... 25 years



Reduction None


With Luck will soon be off & going up again :)

Ooops!


arnegie Minerals suspends operations
Wednesday, January 16, 2008, 09:19 AM
Shares in Carnegie Minerals (AIM:CME) fell 40% to 3 pence after the company announced the suspension of all mining operations in Gambia. The halt was prompted by a letter received from The Geological Department of The Office of The President of Gambia requesting a stop to all operations until further information regarding "minerals mined and laboratory results".

Carnegie Minerals said it believes that it is in compliance with all terms of its mining licence, but would adhere to the request.

AIM THANKS but was posted on 16th !

Carnegie Minerals plc
01 February 2008




CARNEGIE MINERALS PLC
('Carnegie' or the 'Company')

Issue of Equity and Notice of Extraordinary General Meeting


The Board of Carnegie Minerals Plc (AIM - CME), the mineral sands resource
company with production interests in The Gambia and advanced exploration in
adjoining Senegal, is pleased to announce that it has raised 1,130,000 (before
expenses) through a placing to institutional and other investors at 4p a share.


A Circular has been sent to Shareholders to convene an Extraordinary General
Meeting for the purposes of passing resolutions to enable the proposed Capital
Raising to be effected.


Background to and reasons for the Capital Raising


Since Carnegie's admission to AIM in August 2006, Carnegie's mineral sands
business has continued to grow in West Africa. At the same time, the Company
has progressed new synergistic opportunities that we believe hold great
potential for the Company going forward.

In Senegal, Carnegie's exploration identified a high grade ore reserve at the
Niafarang deposit. The Company therefore plans to develop Niafarang, which is
50% funded by our joint venture partner Astron Ltd ('Astron') and 50% funded by
the Company, with the aim of bringing the project into production in early 2009.
The Company also recently undertook a significant exploration drilling
programme in the northern and southern parts of the licence area. Based on the
assay results available to date, which highlighted mineralisation intersections
in these previously untested areas, the Company plans to follow-up exploration
as well as drill testing in the eastern part of the licence area where
identified geophysical targets were not drilled during this programme due to the
onset of the rainy season.


With the positive exploration results received so far, the Company has also been
investigating further mineral sands potential in the region. Additionally, the
Company has been actively assessing a number of opportunities in other
geographical regions; both in industrial minerals and other commodities that it
believes will complement the existing projects and contribute to the future
success of the Company.


With the positive exploration results in Senegal, the Company wishes to raise
further funds to enable the Company to maintain its contributing interest in
that country and to follow up the other high potential initiatives.



Additionally, to allow the Company to issue Ordinary Shares in consideration for
existing warrants and options and to provide the Board with flexibility for
further fundraisings in the future, authority is being sought at the EGM to
issue a number of Ordinary Shares other than on a pre-emptive basis. By passing
the resolution to provide the Board with such authority, the Company will be
able to rapidly exploit investment and financing opportunities that present
themselves to the Company, in a cost-effective manner.


Gambia update

In The Gambia, all development and operating expenditure is funded by the
Company's 50% joint venture partner, Astron. Four production units have been
commissioned and an official mine site opening held in July 2007. Production
rates were increasing in line with expectations and a second stage concentrator
was scheduled to be commissioned this year with a resulting increase in revenues
expected.



On 16 January 2008, the joint venture company received an instruction from the
Government of The Gambia directing it to cease all operations and to provide
certain information in relation to production, grades and prices. An additional
letter with a request of further information was received by the company on 18
January 2008. Both letters received from The Gambian Government required the
information requested to be supplied within 24 business hours in default of
which there would be a risk of the cancellation of the Gambian joint venture
company's licence and other potential action. The Company responded to each of
the letters within the prescribed time limits. The Company has not received any
notice from The Gambian Government that the licence has been cancelled. The
Company believes it has supplied all the required information including
independent SGS laboratory assays and offered to fund an independent industry
expert to assist them in interpreting these results. As at the date of this
circular, we await the Gambian Government's response. Given the uncertainty over
the Gambian licence that this action has produced, the Board has decided to take
the most prudent approach available to it and provide fully against the carrying
value of the Gambian assets on its balance sheet.



Given this new development in The Gambia's risk profile, a full provision
against the Company's Gambian assets will remain, even in the event the
Government of The Gambia allows the joint venture company to fully resume its
operations.



Following the supply of the necessary information to the Gambian Government, the
Company awaits a response. Whilst the Company is making arrangements to meet
with the Gambian Government in order to resolve any concerns, the Board
currently has no indication or visibility on the timing of the response from the
Gambian Government on this issue. The Company will make further announcements as
appropriate when responses from the Gambian Government are received.



Details of the proposed Capital Raising

Blue Oar has, on behalf of the Company, conditionally placed a total of
28,250,000 Placing Shares at the Placing Price, to an existing substantial
shareholder, RAB, and additional institutional and other investors, to raise
1,130,000.



In addition, 28,250,000 New Warrants will be issued to Placees on the basis of
one New Warrant for every Placing Share subscribed.



The Capital Raising is conditional, inter alia, upon:



the passing of the Resolutions at the EGM;

the Placing Agreement becoming unconditional; and

Admission having become effective on or before 26 February 2008 (or such
later date as Blue Oar and the Company may agree, not being later than 29
February 2008).



The Placing is not being underwritten, in whole or in part, by Blue Oar or any
other party.



The Placing Shares

The Placing Shares will, when issued, rank equally in all respects with the
other Ordinary Shares then in issue, including all rights to all dividends and
other distributions declared, made or paid following Admission.

Application will be made for the Placing Shares to be admitted to trading on
AIM. It is expected that trading in the Placing Shares will commence on 26
February 2008.



The New Warrants



The Company has created 28,250,000 New Warrants on the terms of the New Warrant
Instrument, which will be issued to Placees on Admission on the basis of one New
Warrant for every Placing Share subscribed for. Each New Warrant entitles the
holder to subscribe for one Ordinary Share. Subject to their terms, the New
Warrants are exercisable at any time prior to the fifth anniversary of the date
of Admission at a price of 6p per Ordinary Share. The New Warrants will not be
admitted to trading on AIM but are freely transferable.



Use of Proceeds



Proceeds from the proposed Capital Raising are planned to be used to fund:



Carnegie's 50% share of an environmental impact study at the Niafarang
deposit in Senegal and other statutory procedures to convert the deposit
area into a mining title;
Carnegie's 50% share of further exploration including drilling in Southern
Senegal;
Continued regional investigations; and
Investigation of new projects in other geographical regions identified as
highly prospective with low sovereign risk.



In the event that the joint venture company is able to convert the Niafarang
portion of the title in Senegal to a mining title in a timely manner, then
additional funding would be sought to facilitate the development of this deposit
at that time.



Extraordinary General Meeting



The EGM will be held at 10.00 a.m. on 25 February 2008 at the offices of Memery
Crystal LLP, 44 Southampton Buildings, London SC2A 1AP.



Recommendation

RAB is a substantial shareholder (as defined) under the AIM Rules. The Placing
therefore constitutes a related party transaction for the purposes of the AIM
Rules. The Directors, having been so advised by Blue Oar, the Company's
nominated adviser, consider that the terms of the Placing are fair and
reasonable insofar as the Shareholders are concerned. In providing advice to the
Board, Blue Oar has taken into account the Directors' commercial assessments.



The Directors consider that the Capital Raising is in the best interests of the
Company and its Shareholders as a whole and accordingly recommend that
Shareholders vote in favour of the Resolutions, as they intend to do in respect
of their own shareholdings, amounting in aggregate to 250,000 Ordinary Shares
(representing approximately 0.45 per cent. of the current issued share capital
of the Company).