african minerals appears to be upping its stake - possible takeover / offer?

Considering the rise there had to be a pull back at some stage. Over a pound by the autumn. dyor

i'm happy enough sitting on my remaining tranche, and don't anticipate buying any more for the time being

looks like i got this one all wrong......clever me.,.

Bb... Patience! Once this manipulation is finished and we get more news, Which is soooon. And lots of it over the coming months, It will fly way past previous highs imvho....

looks like my top up is gonna be in profit soon.8-)

Me too, first bought at 35, sold half at 55 and bought back at 45 thinking what could go wrong! Should have had the guts to buy more at 38 I suppose, but there you go.

My Ave, is 30p so not complaining.,.

Nice rise today for BAO, is this a real 'steel' RIO or BLT are interested?????

Yes, after a brief retreat, Re fuelled and ready for the next lot of news. Anyday now!!

Blanche - I topped up also in April @ 54p!!! just another two jumps of 7p to go now to b/e!! up 20% on 'no news' Fri. Next 2/3 months should be interesting me thinks!!

re - topped up

I did my buy last Friday at just below 36p after notting the volume was much higher than recently and share price changing direction.

Take notice of all Indicators moving higher from oversold

Good morniing MRSI.,.

Crumbs...I think freddie kruger is back...

if he does not succumb to his former psychoses, i have no problem .... and that includes accepting the differing views of others

>>>>> Take notice of all Indicators moving higher from oversold


A very good rise indeed and some taking advantage of the oversold position of the last couple days, yes the Indicators were again well down

June 08, 2011 Pinched from another bb. Many Thanks
Baobab Resources Has A Whole Lot Of Drill Rigs And Some Very Big Plans

By Alastair Ford

Its all systems go at Baobab Resources as the team on the ground in Mozambique get ready to crank up drill programmes on the Tete iron ore project, at Monte Muande, and at the Mundonguara copper-gold project, all of which lie in the centre of the country in one of the most prolific coal development regions in the world. It is, says Baobab managing director Ben James, going to be a Dallas on the Zambezi River a premier industrial hub in southern Africa. So, for those who know their bulks, theres the first tick in the box right there infrastructure will not be short supply.

And its all systems go on the corporate side of things too, as managing director Ben James cranks up the air miles between London, where his core investor base is; Mozambique, where his company-making assets are; and Australia, where he has a growing following and where he also happens to live. Hes not long since done the rounds of investors with company chairman Jeremy Dowler at his side, and the trajectory taken by Baobabs shares over the past year is testimony to the amount of respect Ben and the Baobab story are now able to command in the market.



To be fair, there has been a correction in the past couple of months, as the shares have dropped down from an April peak of 54p to their current 34.75p. But given that the shares were at just 8p less than a year ago it wasnt altogether surprising that the re-rating that got underway at the end of last year ran ahead of itself and that markets finally paused for breath. The good news that caused that head of steam to build was many layered. First there was the signing of a good-looking joint venture with North River Resources over Monte Muande, to the south of Tete. Monte Muande looks prospective for several hundred million tonnes of iron ore as well as significant amounts of phosphate and other base metals. The market liked that news and licked its lips in anticipation of more. Then there was a successful Mines & Money conference in London, at which Baobab garnered a great deal of interest. And then, as 2011 got underway, came several encouraging updates from Tete itself. Come April the shares had sailed past 50p, up more than fivefold in a matter of months.



And canny directors know that when a funding window opens its as well to take advantage. So Baobabs last raise, for slightly less than 5 million was done at a handsome 40p, which sets it up nicely for a drive towards 300 million tonnes of JORC iron ore resources at Tete - a goal which should be achieved by the end of the year - and for stacks of progress on Monte Muande and on Mundonguara.
The company certainly has the rigs to get there. Supported by around A$9 million in the bank, and a further 15 million equity draw-down facility 10 rigs will get to work across the Mozambican ground in short order. Six rigs are already working at Tete five reverse circulation drills and one diamond drill. Ones working Monte Muande, and three more are, says Ben, on the water and on the way. One of those will be deployed ant Mundonguara, while the other two will be held as spares and deployed as and when the geology across the portfolio looks most enticing and worthy of follow-up.



Were already going hammer and tongs, says Ben. The crews are double shifting and the rigs are working 24 hours a day. All of which means there should be a prolific amount of information coming into the market on a variety of Baobab project as the year progresses. And all other things being equal, it wouldnt be altogether surprising if the upward movement in the share price resumed on the back of it all.



For now, Tete remains the key. The project comprises several mineralised deposits in close proximity to each other, all just 50 kilometres away from a railway line. The medium-term plan would be to put a rail spur in, and ship ore out into the wider world. Long-term, though, theres talk of steering the Baobab operations directly into the newly emerging Dallas on the Zambezi. There is, says Ben, a real opportunity to set up a steel manufacturing hub outside of South Africa. He has little doubt it will be done, and hed like to see Baobab at the heart of such a development. After all, the company may be small, but it is well positioned. It has the IFC as a supportive shareholder, and it has the likes of Rio Tinto, Tata, Jindal, and Nippon as its neighbours. At some stage, the thinking is, Tete should end up as part of a steel company. The chances of the Baobab team, as exploration specialists, still being on board by then are probably remote, but if it gets to that stage then it seems likely that everyone will have cashed out at a handsome profit, and it should be no surprise if happy investors return to back the team when they come round for another bite.



But as far as the short-term goes, theres the reams of drilling to look forward to and the pre-feasibility study. Theres also the possibility that an alluvial component of Monte Muande may work as a direct shipping operation, which would mean early cash flow, probably by next year. Tests are underway, so watch this space.

News V E R Y soooooooooooon !

Cool! bring it on ! been in BAO since 10.5p

Baobab has drilled close to 40,000 metres so far this year and will probably finish up at around 50,000 metres by the end of 2011. To achieve these rates of productivity, the company has had up to eight rigs turning across the project.



Baobab Resources (LON:BAO) said its latest drilling results underline the quality and scale of its iron ore project in the Tete region of Mozambique.

The data from the Ruoni South deposit returned some significant drill intercepts, including one 136 metre section at 32 per cent iron ore, giving a Davis Tube Recovery grade of 64 per cent.

Also contained in this sample were 1 per cent vanadium oxide and 5 per cent titanium dioxide.

The Tete project splits into two distinct parts the Singore area and directly to the north of this, the Massamba Group.

Massamba can then be split into a number of target areas - Chitongue Grande, Chimbala, the Tenge-Ruoni prospect and finally the rather blandly named South Zone.

A JORC resource estimates for Ruoni and Chitongue Grande Extensions are nearing completion with Ruoni South expected by the end of November, the company said.

Chief executive Ben James said: "The latest round of Ruoni South Davis Tube Recovery results underlines the quality and potential scale of the deposit.

Baobab will be keeping investors up to date as additional results become available."

Ruoni South is part of the Massamba Group iron ore, vanadium and titanium project, which currently has a 160 million tonne resource.

The company said it is confident of lifting this figure to 300 million tonnes by the year-end significant milestone in terms of the projects economics.

Drilling is progressing steadily on the Tenge prospect, which is reported to have outlined substantial zones of strong mineralisation. First analytical results are expected during December, the company added.

Baobab has drilled close to 40,000 metres so far this year and will probably finish up at around 50,000 metres by the end of 2011. To achieve these rates of productivity, the company has had up to eight rigs turning across the project.

Separately, Baobab said the compilation of a scoping study on the project is at an advanced stage with preliminary results expected in the latter half of November.

The plan in the next three-and-a-half to four years is to create an operation that will initially export magnetite and an increasingly more profitable ilmenite (titanium) concentrate.

It will then move into the production of pig iron using well established rotary hearth furnace technology successfully employed in South Africa and New Zealand.

The capital costs of such a project are substantial, at anywhere between US$500-US$750 million, but off-set by the staggering revenue potential of pig iron, magnetite and ilmenite concentrate production.

When compared to some of the iron ore projects planned for West Africa that require a huge investment in infrastructure, Baobabs Tete project looks much more affordable.

Baobab has cash in the bank to see them through to year end and beyond, with plenty of funding options going forward including an untapped US$23 million (15 million) equity drawdown facility.

Investors have been treated to a roller coaster ride this year as the stock topped 50 pence in the spring. It is trading at 20 pence today, valuing Baobab at just 38 million.

But you get a lot of bang for your buck at that price, with one analysts suggesting the stock is worth as much as 1. We are the dress circle of Mozambique, James said in a recent interview with Proactive Investors.

We have two of the worlds largest mining companies in Vale and Rio immediately south of us, and we have some of the worlds largest steel producers.

In the next 10 years Tete is going to be an industrial and mining hub of global significance, producing up to 20 per cent of the worlds coking coal.

It is not going to be a sleepy little backwater on the Zambezi. Baobab is positioning itself to become a cornerstone player in Mozambiques integrated iron and steel sector.

KEEP an EYE

15.75 / 16p +1.125p

on the way up today with lots of buying and some paying premium, has had a large retracement after reaching 23p last time.
small spread and good Level 2 of 3 v 1