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.

BJ, we will see the shares really take off if Goldfields agree to the joint venture before the 31st of this month.

cheers GF.

lets hope so. Apart from this drilling report and the deal with Gold fields, what else is in the pipeline to keep the shares moving up??

Well this positive broker note I have just received from Seymour Pierce.

"African Eagle has today announced the results of a drilling programme at the company’s Miyabi project in the Lake Victoria Goldfield of Tanzania. The focus of the company’s work at the project has been on a 7km by 2km area known as the Miyabi corridor, where shear hosted gold mineralization has been intersected within several discrete structures. The results from this drilling have been made available to Gold Fields, which has an option over the project, and who are expected to make a decision about whether to proceed with a full joint venture at Miyabi before the end of this month.

The current drilling programme was completed in December 2003 and consisted of approximately 6,500m of reverse circulation drilling from 53 holes. The results confirm our view that mineralization at the project is more extensive than that which had been previously identified and that it is also likely to extend at depth. Some of the better results included 18m at 3.4g/t from 82m, 39m at 1.5g/t from 66m and 39g/t at 1.3g/t from 42m.

We believe that these results increase the probability Gold Fields will exercise its option to proceed with a full joint venture. At this stage it would require them to expend 2 million on exploration at the project to obtain a 51% interest in Miyabi. With a short term target price of 30p we continue to rate the company as a SPECULATIVE BUY."

cheers GF.

Not long to go before we get the Goldfields decision.

cheers Gf.

Still some news to come from their drilling projects at Eagle Eye. This hopefully come in different dates. If both are good then we can make some nice dosh. There are some speculative comments on Shares Mag today.

Xmortal, thanks will get a copy.

cheers GF.

ps, do you think they are holding results back until POG rises again?

Hello GF.

I hope Goldfields releases its decision as late as possible next week. This will help the price to go up as speculators will buy shares. I feel is 50/50 in regards of Goldfields taking advantage of this. There are other drilling results in the pipeline coming in the next 4 weeks so this will keep the share attractive to speculators. I have a good gut feeling about this, I will wait till we get the next set of the drilling results. Lets keep in mind that gold is high and the dollar down. gold at present s a safe investment for now (till next USA presidential elections anyway)

Good point Xmortal and the share is up this morning.

Cheers GF.

On a break out late this afternoon.

Up 17% on the day and results of the gold field tie out due any time now.

cheers GF.

Went down again but hold on there..... Went up this morning nearly 13% but nervy traders began to sell. Like I said will hold till the next batch of drilling reports are out. Ta

XMortal, news of the partnership with goldfields should be out this week. Even if Goldfields dont sign up to a farm in, AFE have another big miner waiting in the wings. I think initially if they dont sign up we will have a price fall, but that would be a buying opportunity with other senior miners waiting to move in.

cheers GF.

The Goldfields partnership would be a significant signing...if it goes ahead (which I'm optimistic it will), then we will be seeing a quick movement north of the share price...a short term price of 40-50p would be easily achiveable.

There are several other drillings going on at the moment and if the results are positive, then a medium-long term price range significantly above that of the short-term range is foreseeable. Massive upside on this stock, but limited downside IMHO

DYOR!!

from iiiboard

From (of all places) neftegaz.ru.


The Safety of Gold

26.01.2004 9:26


Gold prices are predicted to reach a 16-year high of $ 450 an ounce by mid-2004, benefiting from continuing terrorism fears and the weak dollar. Tensions over future attacks on the US and ongoing instability in Iraq mean investors are looking to gold as a safe haven. Gold prices rose by 14% in 2003.

In such a market, it's no surprise gold producers are keeping busy. For example, Tanzania, already Africa's third largest gold producer, is preparing to open its sixth gold mine. Canada's Barrick Gold, the world's third largest bullion producer, is putting $ 50m into the construction of the Tulawaka mine on the south-west shore of Lake Victoria. Production of some 100,000oz a year is scheduled to start in early 2005. The mine will have a life span of about five years, with the possibility of underground work after that.

Meanwhile, South Africa's Gold Fields is considering entering into a joint venture with African Eagle in another Lake Victoria project in Miyabi where drilling to quantify resources is ongoing.

Well Goldfields have opted not to go for the joint venture but there are other miners waiting in the wings. Im staying put in this one as I feel POG will rise again and the sample results are due fromthe drilling in 3 weeks time.

Heres the RNS...........

African Eagle Resources PLC
02 February 2004

AFRICAN EAGLE RETAINS ITS INTEREST IN THE MIYABI PROJECT, TANZANIA



African Eagle has received notice from Gold Fields Limited that following a
recent review of its exploration projects, subsidiary Orogen Holding (BVI) Ltd
will not exercise its option to enter into joint venture with African Eagle on
the Company's Miyabi project in Tanzania.



Gold Fields acquired an option to enter into a 51% joint venture on the Miyabi
project under two Subscription Agreements signed in May 2002 and June 2003,
under which Orogen subscribed for African Eagle shares and warrants to a total
of 820,000.



John Park, African Eagle's Chairman, said 'Miyabi has benefited greatly from
Gold Fields' technical and financial expertise over the last two years.
Although they have chosen not to exercise their option, Gold Fields will remain
significant shareholders in African Eagle and will continue to monitor progress
at Miyabi in that capacity. To our minds, this demonstrates their belief that
our exploration programme has the potential to uncover a significant gold
resource.'



African Eagle now retains the Miyabi project unencumbered and will continue its
aggressive exploration there, focussing on resource definition. African Eagle's
geologists are currently analysing and interpreting the results of recent
drilling, together with the data, maps and sections from all the drilling and
other exploration carried out over the past 18 months, with a view to
prioritising future drilling targets to add to the gold resources on the
property and to locate the mineable ounces Gold Fields believe the area has the
potential to yield.



Although African Eagle plans to undertake the next phase of exploration from its
own resources, several other mining groups have expressed considerable interest
in the Miyabi project and the Company may enter into discussions with them.



In line with its strategy of assessing other licence areas in the Lake Victoria
Goldfield, the Company has recently signed a six month option with Eb-Hance Ltd
to evaluate the gold potential of prospecting licence 1975/2002 at Ugambilo in
Kwimba District and has relinquished its rights over prospecting licences 1747/
2001 (Ekta) and 2084/2002 (Zig-zag). Other possible projects are under
negotiation.





John Park

Chairman, African Eagle Resources plc



cheers Gf.

im holding on too at least to see how the other set of results turn up.

Xmortal, as you probably know this businese is all about staying calm when you have done your research and come up with your pick.

Im styaying put and not moving one jot. Many a time you see guys squelching and moving out because they dont have the balls. Sorry not me.

I may come a cropper but then I could earn a lot of money. I will take the risk on this ome and the other gold shares I own.

good luck and cheers GF.

2.38% up today...... GF what do u think of Monterrico Metals (MNA)...... has not stop going up since August lst year. I have faith on this company too. Of course hold something and have doubled already!!

IT JUST DEPENDS IF HOW LOYAL YOU ARE TO THE CO.
HAVE BEEN WITH THEM SINCE LATE 2000WHEN ARTICLE WAS FIRST WRITTEN ABOUT TWIGG MINING WHEN THEY WERE ON OFEX BY SHARES MAG

Hi , XM, Montericco, is that copper? if it is that would interest me. Big demamand from China.

GF.