Ive always said I would not start looking at the Gold Explorers untill POG broke through $420, well its done that today and this company in my mind is the best potential producer around, and heres why.

MANAGEMENT

Has two experinced Managers in mining in Mark Parker and John Park, both have extensive exploration management in Africa in mining and have proved themselfs in the past selling out small mines to the big boys.

THE MINES

ZAMBIA.

Here the company as 5 potential Block busters but the REAL GEM of the company Sasere, known as EAGLE EYE is an old Gold mine but recent sampling shows that it could provide massive deposits of Copper and Gold.

These are the drilling results we are waiting for. Estimations are fantastic and we could see that the company is sitting on deposits worth many times over of the market cap of the company of circa 12.2 million.

MOZAMBIQUE

Three sites here and Nickel is the one they are looking for. Dont forget Nickel is the highest commodity riser after Gold and is hitting new highs.


TANZANIA

Big prospect here is Miyabi.

African Eagle are carrying out a joint venture with the giant Miner Gold Fields. Drilling results are to be given to Goldfields by 31/January this year.

If results are expected what the management of Goldfields want, African Eagle retain a 30% stake in one massive deposit.

This is an exciting investment but one that is HIGH RISK like any other gold explorer.

We should have news very early on two fronts.

If this news is positive we are looking at one hell of an investment.

Please Dyor and remember your buying and selling actions are in your own hands.

Cheers GF.

ps, up 19% today waiting for the results.

xmortal
Can you send me a copy of the T1ps transcript issued by
mwoolgar unless you have already deleted it.

I have deleted it too. sorry.

Ok. No problem.

http://www.uk-wire.com/cgi-bin/articles/200411090700140016F.html

Well Its been a long time coming but at last we have some good news to send this share back up to where it should be (20+) It'll be interesting to see where this ends up by 4.30!

B2B

You might want to check out this article published today on Citywire re AFE. Here's the link:

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=70039&MenuKey=News.Home&NewsPage=1

Be careful. This is early stage exploration.

Afe are in better shape than ever before!!!
30% up today and
faida results due soon should see more skywards movement

ok Iturama, we know, don't patronize pls

Thanks xmortal
we should all know that minor co exploration is high risk I have loat loads on afe from the highs of 28p however I accept thats the way it is. High risk possible high gain maybe you should stick to ftse 100 and you have the low gains low risk. sorry this must sound so patronising.

Pleased to see that at the end of the day on Friday some large buys went through. Hopefully this might mean more gains on Monday.
IMHO the share price has drifted lower and lower on the basis of no news rather than bad news. Lets hope the good news continues and lifts the price back to where it should be.

Good luck to all holders


B2B

African Eagle - Drilling Update
Great news today comes from African Eagle* (AFE) with an update on drilling progress in Zambia. At Eagle Eye a second set of survey results show that the copper zones are far more extensive than was previously imagined. The company states boldly in its release that it now believes that the copper mineralisation now extends over nearly 25 kilometres. Included in the release are results of trenching from the northern limb of the structure which show grades of up to 1.07% copper over 6 metres. Can we say that Eagle Eye is a commercial world class deposit yet? No, not definitively. Further drilling will be needed next year to prove that up but we can say that it is looking increasingly likely that Eagle Eye will prove to be a commercial prospect.

The company also said that it is mapping and sampling a series of old trenches at Kampumba in Zambia and that plans are underway to drill the Mkushi prospect in the first quarter of 2005. Not stated in the release is that we should also get results from drilling up the gold prospect at Miyabi in Tanzania shortly.

Shares in African Eagle have raced ahead to 18.75p valuing the company at 13.5 million. This is a company with net cash and one gold field (Miyabi) which is almost certainly commercial if not huge and one copper play (Eagle Eye) which is very possibly both commercial and very large indeed plus a portfolio of other exploration assets of varying degrees of attraction. The stock does not discount the potential of one of the lead assets let alone both and remains a "strong speculative buy." regards goal

loads of exposure following the recent news. In my opinion would expect this to rise considerably next week and also in anticipation of the gold update at miyabi/faida.


(Courtesy of the "adv thread")
http://news.independent.co.uk/business/analysis_and_features/story.jsp?story=584780

http://www.thisislondon.co.uk/news/business/articles/timid84868?source=

http://www.thisismoney.com/20041119/nm84868.html

http://news.ft.com/cms/s/c646abfa-3a0a-11d9-aa4d-00000e2511c8.html

Buy African Eagle at 17.25p

Suggests Tom Winnifrith of t1ps.com

This has not been my greatest resource stock tip. I wish it was up by 500% like Golden Prospect or by 300% like Northern Petroleum. As it happens it is up by about 15% since I first highlighted its attractions but an announcement last week pushed the stock sharply higher and it now has momentum. It is also still, at 17.25p, ludicrously cheap. In fact I like this stock so much that I own it in my SIPP.

African Eagle started life on Ofex as Twigg. It moved to AIM in June 2003 and like most mining juniors it has had to pass the hat around a number of times. But unlike most mining juniors it has assets of real value and with net cash of 1.2 million pounds (plus another 700,000 pounds likely to come in over the next few months from warrants being exercised) the company has plenty of balance sheet headroom. The company has extensive acreage in Tanzania, Zambia and Mozambique but for the purposes of simplicity I shall ignore all bar two of those prospects. While the long tail has a clear economic value too much detail may serve to obscure the bigger picture.

The less exciting of the two lead prospects is the Miyabi gold prospect in Tanzania. This is a country with a supportive fiscal regime for gold explorers and which is now Africa's third-largest producer of the stuff. Miyabi has a proven resource of 140,000 oz and drilling results due shortly should push that number significantly higher. Given the local infrastructure it is almost certainly a commercial prospect. The idea that it could eventually develop into a mine producing 100,000 oz a year over ten years is far from implausible. With gold at nearly $450 oz and cash costs low (well under $200 oz) the DCF value of such a prospect is apparent to all and drilling over the next 18 months should firm up the resource numbers.

The jewel in the crown is a Copper play in Zambia known as Eagle Eye. Drilling results last week indicated that the strike zone may extend for up to 25 kilometres and the copper grades obtained from drilling and grab samples to date have been very encouraging. However it is too early to say that this is a world class commercial find but it may well be. More drilling is needed and that will take place over the coming year. If I was Mark Parker - an able geologist who runs African - I would at this stage be farming out Eagle Eye to a major so that it funds its accelerated progress and I just get a free carry. I suspect that will happen over the next year but meanwhile Parker is hoping to strike a better deal by obtaining more data.

At 17.25p African Eagle is valued at 12.5 million pounds. Miyabi has the potential to be worth double that amount. Eagle Eye has the potential to be worth a multiple of that amount. Of course both prospects could be worth nothing - exploration is inherently risky. But on a risk reward basis this is arguably the most attractive mining junior in town. Buy.

Share price: 16.5 - 18p
Stockmarket: AIM
Symbol: AFE
NMS: 10,000

Regards,goal.

Well its been a long time coming and I'm only just approaching a profit but it is nice to see this one back in the 20+ range. All the news looks good. Lets up there is still a lot of unside in the light of the good news released today.

B2B

I jumped in early today and am pleased with things so far. This news today can only help the company achieve its proper standing

HM

http://www.thisismoney.co.uk/highlow.asp

Riding high by a fair margin this a.m.

http://www.thisismoney.co.uk/highlow.asp

Fantastic news! Patience has paid off for holders--where do you see the share price ending up- long or short term?

moneyplus, not shore about short term, but long term looks fantastic.goal.