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.

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.

it seemed it is the rihgt time to buy...

by Zak Mir of www.Zaks-TA.com and Tom Winnifrith of www.t1ps.com

It would appear that having African in you company name is as hot today as being a dot com was in 1999. As a pure exercise in fun, we thought it apt to review three of the winners from this stable. We have to admit the three are all resource stocks which are pretty hit right now. Two of them also emerge from the same stable: The John Teeling emporium of resource juniors based in Dublin. This analysis is a two part one. On the one hand Zak serves up a technical analysis, on the other there are some fundamentals from Tom.

African Eagle

Zak: African Eagle (AFE) had it first breakout from an extended base like many stock market minnows in the autumn and after a period of consolidation we saw the second spike last month. In fact though there has been a pullback to both the 50 day moving average and the October support line at 19p, I would regard the current position as quite an appealing buy that would target the top of the price channel at 37p. The downside risk is minimised by setting a stop loss of a weekly close below the aforementioned October support line at 19p. All in all a very decent risk reward play.



Tom: Before the analysis, I should declare that I own this stock in my SIPP. I run my SIPP in public and in full view on www.t1ps.com and bought in on Monday at 19.88p. I tipped the stock in November at 17.75p. earlier this week the shares slipped a bit when Gold Fields decided not to exercise an option to farm into the Miyabi gold project in Tanzania. Gold Fields needs 2 million ounces to be interested, Miyabi is - I suspect a 1 million mine. But that is still highly commercial and on its own worth more than African Eagle's current market value (at 22p - 16.6 million pounds). African also has a very exciting base metals project (eagle Eye) in Zambia where recent drilling data has been cracking and with more than two million pounds in the kitty can explore aggressively so that when it does farm out it is on the right terms. The stock is clearly speculative but very exciting.

GF yes monterrico have few copper sites in Peru, they also have a good portfolio of projects.... I have started a thread a while ago, search for it. Just to let you know that together with Chile, Peru is in the World top 5 copper exporter.

GOOD MORNING EAGLES.... UP TO 10.23% SO FAR.... KEEP ON FLYING PLEASE. NEED TO CATCH UP TO DO.

The Eagle has taken off....keep on flying and i will no longer be Piston Broke

After the news last monday just shows how robust this share is to bounce back so quickly.

up nearly 9% today

seemed lots of profit taking in the morning....

yes, such a shame with the news we got now. Nearly 50% accumulated gains by this morning performance. Mind you a lot of the mining stock are down too. Still it is a hold, has to bounce back.

GF, u still here or sold?? any inputs on the latest?

Still in and added XM. If you look on the companys site there are more details today about eagle eye and the copper find. Exciting news. Still waiting news of a partner instead of goldfields, but Im sure they will get one.

cheers gf.

Heres a very bullish article...........

Feature Story



Date : February 11, 2004



Looks Like African Eagle Has An Elephant By The Tail At Its Sasare Project in Zambia.

As anticipated yesterday in our piece setting the scene at Indaba, AIM listed African Eagle has come out with further drilling results which confirm an iron oxide copper gold deposit at its Sasare project in eastern Zambia. It is still early days and rain interfered with the drilling programme, but the significance should not be overlooked. There are only about half a dozen such deposits in the world; Australia has two of them and Africa none. Olympic Dam has a resource of around 1 billion tonnes of copper and gold and Ernest Henry 170 million tonnes. People close to African Eagle see geological similarities with Ernest Henry which is a dipping breccia style deposit. To give an idea of scale it extracts 10 million tonnes/year of ore from an open pit operation and produces around 360,000 tonnes of concentrate containing 100,000 tonnes of copper and 125,000 ounces of gold a year..

If the African Eagle team is right about this, and all of them – John Park, Mark Parker Chris Davies and Euan Worthington – have track records of success and plenty of expertise and experience, they could have an elephant by the tail. And an elephant with an even wider suite of metals and minerals than Ernest Henry as silver has also been confirmed and cobalt and bismuth are suspected.

The drilling programme on which they are reporting was designed to test some of many targets identified within an extensive copper bearing zone revealed by geochemical and geological surveys since the project was acquired as part of a package owned by a private company in 2002. The results to date show mineralised zones up to 66 metres wide containing higher grade zones with up to 5% copper. According to operations director Chris Davies,” “Eagle Eye is a large mineralised system which we have only pinpricked by drilling so far. The assays from the first holes eleven holes confirm the presence of a large area of copper mineralisation containing narrower, richer copper and silver bearing zones. These results and the geology revealed by the drilling confirm an iron oxide copper gold association.”

Statements such as this by an experienced field geologist are not made until a fair amount of evidence has been assembled to confirm the facts. It is still early days, however, and Davies admits that much of the geochemical anomaly remains to be tested and there is plenty more drilling to be done once the rains ease off in April. The original discovery was made back in March when African Eagle announced that sampling of old prospecting pits, trenches and shafts at Sasare, coupled with remote sensing studies, geological modelling and a thorough review by the company of past exploration data from the area, all indicated that the licence area contained an iron oxide copper gold deposit

As a result African Eagle designed a programme of reverse circulation drilling to test numerous targets within the extensive anomalous copper zones. Eleven drill holes totalling 1,437 metres were successfully completed before the rain brought it to a close. Drill samples were collected over 1metre intervals and composited over 3metres for assay. In addition to the drilling, African Eagle carried out chip channel sampling of trenches to the north and northeast of the Mweze prospect, to investigate the strike extension of the copper anomaly. These provided further encouraging results, including 22 metres at 0.9% copper from a trench situated 600 metres northeast of Mweze. Earlier grab sampling in the same area returned values of 8.7 and 2.9 g/t gold.

It appears that sulphidic mineralisation in several drillholes a long way apart is continuous over up to 80 metres in depth. This is significant as it gives some idea of the size of this particular elephant as the eleven holes were spread over more than five kilometres in length and at least 2 kilometres in width. The mineralisation is also close to surface as evidenced by the drilling statistics. When work restarts in a couple of months time, detailed geochemical soil sampling, ground magnetic and IP geophysical surveys, geological and alteration mapping will also be extended towards the north-east to test anomalous areas defined from last year’s reconnaissance sampling. There should be a whole lot more news to come from this one over the coming months . In the meantime it is worth remembering that all the big boys are on the spot at Indaba to grill the African Eagle team and the company is only capitalised at just over 20 million.

cheers GF.

GF you are a star!! where did u get this article from? Thank you for these input. I would like you to read a bit more about Monterrico copper site in Peru and take a look at its chart. Monterrico are doing extremely well, 400% up since its inception in AIM this year. If African Eagle's copper find is as good as Monterrico or better, believe you me, we are in for excelent dividends. I will hold and perhaps add.