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

possibly something strange afoot .... though there is no published news, sp is again strong this morning with volume approaching 1.5m already

BAOBAB RESOURCES PLC
PYRO-METALLURGICAL TESTWORK PRODUCES LOW IMPURITY PIG IRON
4 MARCH 2013

Baobab Resources Plc ("Baobab" or the "Company") the iron ore, base and precious metals explorer with a portfolio of exploration projects in Mozambique, is pleased to present the results of pyro-metallurgical test work at its 85% owned Tete pig iron, vanadium and titanium project (the "Tete Project") in which International Finance Corporation ('IFC') hold a 15% participatory interest.

HIGHLIGHTS
-- Bench-scale pyro-metallurgical test work has confirmed the ability to produce a
low impurity pig iron product using Baobab's iron ore and local Mozambique
thermal coal.
-- The reduction and smelting test work has been conducted using coarse
concentrates derived from the Tenge resource block at the Commonwealth
Scientific and Industrial Research Organisation (CSIRO) laboratories in
Australia.
-- Reduction test work using a rotary kiln simulator has returned very promising
results with in excess of 70% metallisation being achieved after a short
residence time using locally sourced thermal coal as a reductive agent.
-- Samples from the rotary kiln experiments were inductively smelted in a crucible
to produce a clean disc of pig iron reporting 97% Fe (at 1.8% C) and containing a
very low level of titanium of 0.002%.

Commenting today, Ben James, Baobab's Managing Director, said: 'the results of the pyro-metallurgical test work mark a major milestone for the project. Two critical questions have been answered: will local thermal coals work in the reduction process and will the titanium separate from the iron when smelted? In both cases the answer is a resounding yes. We now possess very clear physical and empirical evidence to support the Company's conviction that we can exploit the project's unique access to low cost thermal coal at the licence boundary together with Baobab's iron ore to produce a high quality / low impurity pig iron at the bottom of the cost curve.'

market is not particularly excited by the news .... that said, it's a pretty soggy market, and to have any stock showing blue today is no mean feat

Cynic, Steady you almost sound as if you are beginning to believe. 8-)

he's in the red here.......

On the bounce after a 61.8% retracement from the last rise
and a 50% retracement on todays intraday price

for the record

BB - out of these entirely a week or two back

Cynic
I do not blame you to be out. I never saw any virtue in this one from the start.
I suggest you stay out for you own health.
Cloudy in Benidorm today, but was sunny yesterday down by the promenade.
I think Benidorm must reflect the Stock Market just now.
Should be warmer next week I am advised
Bob

out with a profit me...... clever clogs.,.

good for you

How much did you sell it for?

Some have not noticed BAO was on the turn this morning

The Fibonacci retracement was at work this morning as the MMs make sure the share price was marked down to that point and then up again.

naturally followers did help the share price move up fast again

another intraday 50% was triggered once again and so on this afternoon, but the share price finished well up on the day.

I made the chart this morning but kept it from posting here till the share price is well up and someone nasty around this side was not getting my "TIP" at the early stage.

others did got it this morning at other places.

From my thread ......

50% intraday fibonacci retracement at 23.125p and UP she goes

High of the day 24.625p
Low of day 21.375p

50 % fibonacci 23.125p

wow.,.

Wow - down 3.75p today 21.75 / 22.00 or 14.63%
Where to tomorrow ?
Is this for pure gamblers or investors ?

gambling and/or momentum trading only

Interview with Ben James, MD of Baobab - Tete pre-feasibility study return positive result

Click here to listen

has anyone come across this?

panel discussion

Ben, the Baobab CEO is involved.

Cheers Morigam, I'm going to listen to the panel discussion. Good find!

Looking like it wants to turn today, there was support at 12.25p were MMs were happy to marked down early morning