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

good rns today saw initial jump in sp though it seems to have come back a smidge, presumably on "selling on the news" ..... it would be nice to think further upside imminent

Fantastic news today!!! Buy Buy Buy!! if you can. 8-)

Peeps gonna sit up and take notice now. W H O O S H !!!!! COMING

i took my profits here about 10 days ago albeit at below current level .... certainly no complaints and shall equally certainly keep watching .... however, with the markets in very twitchy mood, i am disinclined to jump back in - i have no hang-up about buy back when price above my previous selling price

I personally i think this is gonna fly bigtime very soon. Cynic don`t think you will be able to buy back in lower than this. The only way is up from here imvho.

minnows are very hard to predict which is why generally i just trade them - i.e. take a respectable profit when its on offer and sp seems to have stalled - or something along those lines

Should start to move more once we get eddison report, which should be anytime now. imvho

BORROWED FROM ANOTHER THREAD. MANY THANKS TO THE ORIGINAL POSTER.

Northland Capital Partners Morning Report


OIL AND GAS: BAOBAB RESOURCES (BAO.L); 17.75p/29.5m, CORP

FROM YESTERDAY: VERY ENCOURAGING DATA COMPILATION RESULTS AT NORTH RIVER JOINT VENTURE



The first phase of the project is the compilation of existing data from an exploration programme by the Geological Institute of Belgrade GIB from 1983-1985. Significant Head Grade intercepts include:

Diamond Drill Holes: D-12: 40.1m at 23.2% Fe and 4.98% P2O5 from surface; D-21: 44.1m at 33.3% Fe and 3.21% P2O5 from 44.4m; G-16: 62.3m at 25.1% Fe and 4.74% P2O5 from 13.5m; H-16: 39.5m at 22.2% Fe and 5.91% P2O5 from surface;LM-11.5: 39.6m at 28.1% Fe and 4.71% P2O5 from surface

Trenches: T-3: 41.5m at 49.5% Fe and 1.04% P2O5;T-11: 71.0m at 34.7% Fe and 1.56% P2O5; T-12: 85.0m at 40.1% Fe and 2.07% P2O5;T-13: 57.0m at 43.2% Fe and 2.41% P2O5;T-14: 52.0m at 39.4% Fe and 3.32% P2O5.

Soil geochemistry completed by Omegacorp in 2007 outlined an anomalous iron corridor (>15% Fe) extending 4km to the southwest on a robust magnetic trend.

Geochemistry also outlined a 2,500m x 400m copper in soil anomaly immediately west of the south-western limit of the iron/phosphorous corridor.

In addition, the south-western corner of 1119L is underlain by 12km2 of the Lower Karoo, which hosts Vale's Moatize and Riversdale's Benga and Zambeze coal projects. Mapping by Mavuzi Resources in 2008 identified evidence of coal exposed in river banks and Baobab has commissioned consultants to make a more detailed assessment of coal potential as soon as conditions allow.

The Company expects to complete compilation of historical work this week to hand to consultants Coffey Mining for review in order to estimate a magnetite/phosphorus Exploration Target for the Monte Muande area.

A drilling campaign targeting 2,000m (probably comprising 10-15 diagonal holes) is due to commence in April. The initial stage of the programme will see Baobab expend $625k and on completion assume 60% ownership of the project.



Northland UK view: Whilst still early in the Monte Muande project with much to follow up, the early interpretation of the data has been particularly encouraging. Drill hole and trench results highlight the potential grades of the deposit and soil geochemistry indicates that the magnetite/phosphorus mineralisation extends for a considerable distance to the southwest. Metallurgy varies significantly to the main Tete prospect so it is likely that Monte Muande will form a distinct project but we suspect that the project will significantly enhance Baobabs overall resource. While it is too early even to hint at the type or extent of the coal present the coal indicators add another dimension. A highly promising diversification inexpensively purchased by Baobab presenting an additional strong catalyst to the already increasing prospective Massamba group.

Edison Note Out!

Baobab has, this week, released the details of historic exploration results relating to its Monte Muande magnetite/phosphate joint venture. The results of the 28 drill holes and 38 trenches completed on the project by the Geological Institute of Belgrade (GIB) in the early 1980s demonstrated grades as high as 67.7% Fe and aggregate widths as high as 214m. The absence of systematic sampling and wide drill hole and trench spacing suggests that relatively little of GIBs data would yet support a JORC code-compliant resource. Consultants have been commissioned to estimate an Exploration Target and to conduct preliminary investigations into potential mineral processing flow sheets to generate discrete magnetite and phosphate concentrate products. Nevertheless, given the data presented, we estimate that Baobab could potentially declare an immediate resource of c 13.7Mt at 40.9% Fe and a c 220Mt exploration target. At an industry average valuation, such a deposit would be worth an immediate c US$19.8m to Baobab, or 7.1c (4.5p) per share for its 60% interest in the project.

Last updated on 01/02/2011

Industry outlookBaobab has an EV equivalent to c US$2/t JORC iron (cf an industry average of US$3.53/t). Pro-rata the higher resource estimate implies a share price of c 65p (49p after dilution), rising to over 1 at the industry average rating

HAPPY DAYS !!!!!!

This is gonna re rate on jorc!! imvho..... Anytime now.

glad i bought back in yesterday - provable if the wankers start questioning my honesty again! ..... 25k lots and just may allow greed to convince me to buy another

Well, passed my prediction post 41. Updated 30p coming 8-)

One to be in...that's for sure.....

Looking good...! I'm staying in for the 1 sp (imho, dyor)

So many rigs....such a lot to do......looking good:
9th FEBRUARY 2011



Baobab Resources plc ('Baobab' or the 'Company'), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to announce that two reverse circulation (RC) drill rigs have mobilised to South Zone over the weekend and are currently drilling in Blocks 1 and 7.

Contracts are currently being finalised with two drilling companies to ensure a fleet of three RC rigs and two diamond drill rigs are available to support the Company's aggressive 30,000 metre drilling campaign in Tete through the 2011 season.

Commenting today, Ben James, Baobab's Managing Director, said: "We are very pleased that we have been able to recommence resource drilling at South Zone. Although the wet season is by no means over, getting started early will enable us to bring forward project timelines."

Cool! onwards and upwards. I'm 80% up and continung to hold!

On the way up now after retracement and looking for a BREAKOUT on this new push, a very good Level 2 of 4 v 1 at 19.50 / 19/75p spread

BIG WANKER ( B~stard ) done it again below.... yesterday

every time a share price rise ..... bought yesterday, no honesty and decency is what you have not got, if you want to tell us you bought say it at the time otherwise keep it for yourself .....

cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....

do you wish top call me a liar? .... if so, then please be unequivocal, but be well aware that you tread on quicksand .... failing that, zipp it and get back to abusing yourself

fyi, i sold them all on 8/2 for a minuscule nett profit