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.

Media comment, click HERE

African Eagle - Buy at 13.25p with target price 40.5p


Key Data

EPIC
AFE

Share Price
13.25p

Spread
12.75p 13.75p

NMS 25,000
Shares issued
154,034,144 shares
(11.2 million options and warrants outstanding)

Market Cap.
20.41 million
(21.89 million - fully diluted)

12 month range
9p-14p

Market
AIM

Website
www.africaneagle.co.uk

Sector
Mining

Contact
Mark Parker (MD)
020 7248 6059

AIM listed gold and copper explorer African Eagle has made a conscious decision to move away from asset building and towards an accelerated programme of taking its key assets into production via joint venture deals with larger partners. This strategy has led to African Eagle tying in joint venture deals with quality project development partners for most of its principal asset portfolio during 2006 and 2007. We expect other joint ventures to be announced but already this is a company which can use the technical and financial resources of larger companies to accelerate its move from an explorer to a producer. Its partners on its various prospects are committed to spending up to $60 million (with a minimum of $6 million) over the next five years in developing them. The joint venture strategy has considerably de-risked the enterprise but there is still considerable upside. Our, still heavily risk weighted, sum of the parts valuation of African Eagle is 40.5p per share.

African Eagle is certainly not one of AIMs resource newcomers. Having listed on Ofex (as Twigg Minerals) in 2000 on the back of a gold discovery at Miyabi in Tanzania, African Eagle moved to AIM in 2003 having acquired a portfolio of Zambian assets in an all paper deal a year previously.

Its most recent joint venture deal was in May 2007, when it linked up with Randgold to develop the Miyabi gold project in Tanzania. The Miyabi gold project represents one of African Eagles lead properties, the other being Mkushi in the Zambian copper belt. Randgolds expertise and funds to take discoveries into production combined with African Eagles exploration and discovery skills, are expected to take the Miyabi project on an accelerated programme towards medium term production. Under the terms of the agreement, Randgold will fund and perform a pre-feasibility study to earn a 50% interest in the Miyabi project, whilst African Eagle can then retain a 49% stake in the project by co-funding a full feasibility study or dilute to 35%.

African Eagle sits on net cash and will have exploration programmes underway on at least eight properties funded by other, larger, partners who will be committed to spending at least $6 million and up to $60 million on those programmes. The decision to farm out all of African Eagles leading properties has reduced the upside potential for the company. However it has also de-risked the enterprise to an extent not reflected in the share price in that this is a company which has no need to raise additional capital to pursue aggressive exploration programmes on these projects. We do not believe that the progress made on the ground by African Eagle over the past year or in de-risking its corporate strategy is reflected in the share price. We have valued the company on a sum of the parts basis at 62.4 million or 40.5p per share. With the shares now trading at 13.25p there is vast fundamental upside. With one further farm-out deal (Eagle Eye) likely to be announced in due course and with an active exploration programme underway on a number of prospects, the newsflow from the company will be rapid and this will, we believe, trigger a re-rating of the shares. Our stance is buy.




Forecasts Table:

Year to 31st December
Sales
(million pounds)
Pre-Tax Profit*
(million pounds)
Earnings Per Share (p)

2004A
0
(0.49)
(0.6)

2005A
0
(0.18)
(0.2)

2006A
0
(1.37)
(1.0)

2007E
0
(0.90)
(0.6)

July 12, 2007

African Eagle Opens Up A New Production Strategy At Last


By Jack Hammer



It looks as though African Eagle is slowly beginning to wake up to the implications of being in a metals boom in the City of London. A year ago if youd asked chairman John Park whether or not African Eagle was going into production any time soon, youd have received the old veterans Australian version of the Ian Paisley treatment: Never! Never! Never! African Eagle was an exploration company, and not for turning. This was presented back then as something as a badge of honour, although now the official history says lack of funds was to blame. But lack of funds hasnt been an issue for Geoff Walsh at Triple Plate, or any number of other London juniors that got the message over the last year or two that equity fundraisings were no longer the markets preferred method of keeping a companys lights on.

The Ndola licence is surrounded by good infrastructure including this concentrate thickener at First Quantum's Bwana Mkubwa mine.
For some reason African Eagle lagged the pack. And with no production in sight, the companys shares continued to stagnate throughout 2006. Meanwhile the company continued to pick over its exploration ground in Zambia and Tanzania like a love-lorn teenager, periodically making comforting noises to shareholders.

It couldnt last John Parks too much of a canny operator to watch any company of his slide into oblivion. So, as they swung through London for a few meetings recently, John Park and African Eagles managing director Mark Parker, were finally outlining a new vision. The first bullet point on page one of their new presentation says, under the heading Strategy: To find the mineral deposits the world needs. Thats bold enough, but is, after all, what the business is all about. But its the second bullet point under Strategy that really rings the changes: To take our most advanced projects rapidly towards production and revenue generation. What a difference a year makes!

African Eagles projects are all pretty familiar by now: Mkushi, Igurubi, Eagle Eye, Miyabi, Ndola In fact there are 29 projects inside the company in total, and John Park is somewhat defensive in regard to the resultant accusation that African Eagle has lacked focus in the past. Now, he says, the focus is clear: Mkushi is to be the lead project. In partnership with CGA Mining, formerly Central Asia Gold, a TSX and Australian traded junior that lists our very own Malcolm Burne as an independent director, Mkushi will now rapidly be moved towards production.

CGA likes Mkushi enough to fund it up to the end of a bankable feasibility study, and, to be fair, it does shape up reasonably well on the most recent numbers, and on some pretty old ones too. Mkushi holds a JORC inferred resource of 11million tonnes grading 0.74 % copper, but previous owner ZCCM reported 30million tonnes at 1.23 % copper. So its worth going after, and we should know more by the end of the third quarter when a pre-feasibility study is due for completion.

According to John Park and Mark Parker, on a best case scenario, first production from Mkushi could even be as early as 2009. Thats because its not too big to get bogged down waiting for any long lead items, and nor are there likely to be any permitting problems since the whole area used to be mined. Furthermore the Zambian government likes it because its not on the Copperbelt, and gives a bit of diversity to the countrys mining industry. So a production decision is likely some time in 2008. And the hope is that by then Miyabi, in joint venture with Randgold, will be coming along rapidly behind.

Theres a couple of million in African Eagles bank account , and with joint venture partners shouldering much of the financial burden, the equity markets shouldnt be troubled for now, although the company is said to be mulling over a listing on the JSE in a bid to improve liquidity and, perhaps, try for a re-rating. Theres also some uranium in African Eagles back pocket, but as John Park rightly says: we dont want to seem like were jumping on the uranium bandwagon, well leave that for another day. One way or another though, African Eagle looks like it has more options open to it than it did a year ago, when the strategy was non-negotiable.

Media comment, click HERE

Share price as been slipping this week.

all year now

African Eagle announces positive metallurgical results from it's Dutwa nickel and cobalt project today :--

Company African Eagle Resources PLC
TIDM AFE
Headline Dutwa Project Update
Released 07:02 09-Feb-09

AFRICAN EAGLE ANNOUNCES POSITIVE PRELIMINARY BOTTLE ROLL LEACH TEST
RESULTS FROM DUTWA NICKEL PROJECT


* Preliminary results from bottle roll tests still underway
* >90% average nickel recovery from drill samples
* Very low sulphuric acid consumption
* Heap leach extraction likely to be feasible process route
* Scoping study proposals being reviewed


African Eagle Resources plc has received excellent results from acid
leach tests underway at Mintek in South Africa, on drill samples from
its Dutwa nickel laterite project in Tanzania. The results received
to date show nickel recoveries averaging 92%, with very low sulphuric
acid consumption, averaging 210 kilograms per tonne.

Mark Parker, Managing Director of African Eagle Resources plc
comments: 'Whilst the acid leach tests are scheduled to continue for
up to 90 days, these results, after 68 days, are already very
encouraging.

'The metallurgy of nickel laterites is critical to the viability of
these deposits, with two parameters, nickel recovery and acid
consumption per tonne of nickel metal won, being especially
important. The results we have received from Mintek so far are very
encouraging as they show that we may be able to use straightforward,
low cost heap leaching to recover the nickel from the ore.

'Taken together, these metallurgical results and the resource
estimate of some 340,000 tonnes of contained nickel and 11,000 tonnes
of cobalt, (announced in November), indicate that Dutwa is a highly
significant discovery.

'We believe Dutwa has many of the right credentials to make the
project economically viable even at current metals prices: simple and
conventional mining; potential heap leaching with low acid
consumption; and the good infrastructure in the Dutwa area. As the
next step in the process, African Eagle will commission a Scoping
Study to investigate these key operating parameters and to assess the
economic potential of the project. We are currently evaluating
proposals for the study from contractors.'


The table below shows the cumulative acid consumption and nickel
recovery for the ten 500g samples (5 from diamond drill cores and 5
from reverse circulation cuttings), after 68 days 'bottle roll' acid
leaching. Each sample was placed in a plastic bottle with 2 litres of
dilute sulphuric acid and agitated continuously by rolling on
rotating rollers. The recoveries were calculated from the preliminary
solution based extraction curves; the final extractions will be
calculated from the residues when the test is complete.


DH1 DH4 DH6 DH7 DH8 RC25 RC30 RC36 RC55 RC71 Average
Acid kg/t 350 200 230 110 200 160 210 300 190 140 210
Ni % recovery 96 96 97 86 90 88 94 84 94 97 92


Mintek is also conducting extensive mineralogical analysis on the
samples, using X-ray diffraction and scanning electron microscopy.
These tests will help African Eagle to categorise potential ore type
zoning within the greater resource and yield information on the
likely behaviour of the material in processing through the
identification of the mineral phases present.
______________

Makes the project look very good for moving into production with the low cost extraction and good recovery rates.
.

not a very popular thread this

What's the opinion on this share offer. Anyone??

June 09, 2010

African Eagle Helped By Continental Drift At Its Dutwa Nickel-Cobalt Project
By Rob Davies



Leaching technology has transformed the economics of gold and copper mining. Many assumed it was only a matter of time before it was applied to other metals with nickel earmarked as the most promising next candidate. However, it has not proved to be the case. The fossil laterites in Australia offered some promise by using high pressure leaching but as Euan Worthington, chairman of African Eagle, points out, they have not been without their problems. More conventional nickel leaching operations have been plagued by high acid consumption which are a direct result of high iron levels.
Where the Dutwa deposits in Tanzania of African Eagle differ from the rest is in their much lower iron but higher silica content. Typically they contain less than 10% iron rather than the more normal 20% or more in other laterites. To understand exactly how this came about chief executive Mark Parker took a few minutes to give a Minews a short geological history of East Africa.

Nickel laterites are formed in hot wet low lying tropical forests. The Dutwa deposits were no exception and were created about 60 million years ago in the early Cretaceous when the earth was a lot hotter and wetter. About 20 million years ago the East African rift was created and raised the formation 1,500 metres in altitude. This uplift was followed by the Quaternary period and created a much drier environment and with a strong seasonal rainfall. Mark believes it was during this event that the majority of the iron and the manganese were removed from the deposits making them more amenable to leaching.

The most recent results from metallurgical testwork indicates that this leaching could either be the traditional heap leaching or, possibly, tank leaching of a beneficiated product that Mark thinks could give higher recoveries. The end result is that African Eagle is sitting on a JORC resource of 31 million tonnes at a grade of 1.1% nickel that can probably be recovered through a low cost leaching process. By low cost the company is looking at a capital cost of about US$430million. Compare that, Mark says, to the US$4 billion Sherritt is spending on its Ambatovy operation in Madagascar. It is costing ten times as much for something twice the size.

The situation now is that the company is sitting on an asset with a gross in-situ value of US$8 billion derived from the 340,000 tonnes of contained nickel and 11,000 tonnes of cobalt. African Eagle itself is capitalised at 13million and has other assets, such as gold in Tanzania and copper in Zambia. Asa Bridle of Evolution Securities values these non-core assets in total at 31.3million or 21.1p a share. In other words the Dutwa nickel assets are in the valuation for nothing. Mark has three ambitions for these: he wants to keep the upside, he wants a reasonable return and he wants to free up resources.

There are of course significant challenges with developing Dutwa, not least that capital cost of US$430million and the fact that it is 40 kms from the nearest paved road. Moreover, developing a new recovery technology in a fairly remote part of Africa will not be easy. Set against that list is the potential for the discovery of additional resource in and around the area. On the western border of the main Wamangola deposit the company is earning an interest of up to 75 per cent in the Ngasamo property from Czech company Safina. A resource statement for this is due shortly. About 70 km south of Dutwa is the Zanzui property that is also believed to have significant potential. Mark expects to have a bankable feasibility study by the end of the year and that will undoubtedly play a major role in helping it find a dancing partner for this project. It is just too big for a company like this to develop on its own. With an AGM on June 15th African Eagle will have no shortage of topics for discussion.

http://moneyam.uk-wire.com/cgi-bin/index?lm=-1;company=AFE%20

Drilling results .... click on link.

The directors of Petroceltic International (AIM: PCI), South Boulder Mines (ASX: STB), New Dawn Mining (TSX: ND) and African Eagle Resources (AIM: AFE) will be presenting:
Thursday the 25th November 2010,
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

http://www.proactiveinvestors.co.uk/register/event_details/96

This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

The event is not suitable for people pursuing commercial opportunities.

If you have any problems registering or queries please email events@proactiveinvestors.com.

Andy

AFE has a stake in KIBO 4% i think , what's your view on them ? price as broke out and there are rumour's of Barrick interest [ bid ]

One step beyond.

This is a Shares and MoneyAMs new quarterly publication covering the world of Oil, Gas and Mining companies. The latest edition is out today and can be viewed as a page flip or a pdf download at www.mrqonline.co.uk

Features on:

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Companies Featured in this issue:

African Eagle
Ariana Resources
GGG Resources
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Ormonde Mining
San Leon Energy