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.

Thanks Scottie, I feel we are on well hell of a roll.

More to come from me on this one. Fantastic prospects and could be the find of the year. Wheres my pal andy????????.

Hes a good online freind and I would like his opinion.

Cheers GF.

AFE is up 7.95% today. Low voumes though. I feel this will continue to go up until the news are released. Hold on there.

Come on news, 'make my day'.

cheers GF.

ps, dont forget aswell, theres two lots of news to come.

No news today but keep a watch out for it, its coming.

cheers GF.

Strong looking TA.



cheers GF.

African Eagle just touched up to 9% rise this morning.

cheers GF.

Yep, I got in just before this mornings rise.
A good profit already. Let's just hope there is more to come with the news we are waiting for.

Thanks for the tip on this one GF.

Rich

Hey GF. Do u know a UK company that may have oil & gas exploring interests in Libya? as you sanctions are not lifted (or near) I thinmk there is potential in that land.

Xmortal sorry no, not a big oil fan. Always seem to get burnt with oil stocks.

cheers GF.

African Eagle just been tipped by the analyst.com.............

Buy African Eagle at 22.5p
argues Dru Edmonstone

With gold breaking through US$420/oz to a fourteen year high driven by a combination of low interest rates, a falling US dollar and limited new mine supply the hunt is on for new sources of the yellow metal. In the years between 1997 and 2002 global expenditure on mineral exploration slumped from US$5.7bn to less than US$2bn in line with declining precious and base metal prices. This lack of investment in exploration has meant that not enough new gold has been discovered to replace that which has been mined.

African Eagle has a portfolio of assets in Tanzania, Zambia and Mozambique. The company successfully moved from OFEX to AIM in mid-2003 in conjunction with a 1.46m fund raising at 6.5p, with an additional 1.9m raised from two subsequent institutional placements. This has allowed African Eagle to accelerate work at its principal projects; the Miyabi gold project in the Lake Victoria goldfield in Tanzania, and the Eagle Eye copper and gold project in Zambia. The shares are currently trading at 22.5p with a market capitalization of 17m and an announcement is anticipated over the next two weeks on last years' exploration programmes.

Tanzania

The company has licences covering 900km2 of Tanzania's highly prospective Lake Victoria goldfield and its most advanced project is the 626km2 Miyabi property, where Gold Fields, the world's fourth largest gold miner, has an option to acquire 51% by spending a minimum of 2m, with a decision expected on whether to proceed before the end of this month. Since the mid-1990s mining has become an increasingly important sector of the Tanzanian economy and today it produces over 1Moz/y of gold from mines owned by major international companies including Barrick and AngloGold with over 40Moz of gold resources identified to date.

Recent drilling at Miyabi intersected broad zones of near surface mineralization at potentially economic grades that would be amenable to low-cost open pit mining. Further infill drilling is required to upgrade these results to resources and reserves, however, a 7km by 2km shear hosted gold system has been defined to date. One area within this, which was previously drilled by the company, was found to host an initial resource of 2.06Mt at 2.2g/t, 140,000oz Au. On the basis of the results generated so far, Miyabi has the potential to develop into a substantial gold deposit.

Zambia

The second string to the company's bow is its base and precious metal exploration licence at Sasare in Zambia where it has identified what appears to be an copper and gold deposit known as the Eagle Eye anomaly. The first phase of a 4,000m drilling programme was completed in December 2003 to test the continuity and grade of mineralization. Exploration at Eagle Eye is still at a comparatively early stage, however, preliminary results are extremely encouraging and it could develop into a major asset for the company.

African Eagle's relatively strong cash position will also allow it to fund exploration at other projects. These include the Muazua project in Mozambique where stream sediment sampling has identified a nickel anomaly which has been confirmed by channel chip sampling, and at the Kampumba copper project in Zambia.

It is likely that even with increased exploration the positive conditions in the gold market are likely to persist for at least the next three years and that gold exploration companies such as African Eagle will be well positioned to take advantage of this environment as its projects progress towards either production or acquisition. With exploration results expected from Miyabi and a decision from Gold Fields due within the next month this is definitely a stock worth paying close attention to with the expectation of short term with the expectation of a rise to at least 30p on positive news. Buy

Key Data

EPIC: AFE
Market: AIM
Spread: 22 - 23p
NMS: 10,000
Market Cap: 17 million ENDS.

Tipped by Dru Edmonstone aswell, which makes it even better as he is one of the better pros around.

cheers GF.

GF....Thanks for the update. I have a good gut feeling in AFE. So far in a week I made 30% profits!!! Maybe you need to take a second look at Petrel Resources (PET) it has some good prospects in Iraq. It has risen almost 100% in a 1 1/2 month. It had encouraging reviews.

AFE looks really great, what about avocet mining, this looks really interesting as well, proven mines and t/o up significantly, looks very undervalued to me.

In avocet mining and Evolution beeson gregory updated a buy note on it wednesday, buy up to 105p. Basically they feel the best value gold miner around without any currency risk. Its on my list above.

Petrel, well they really could take off if we see a shortage of oil reserves in the World. Will be interesting to see what the next OPEC meeting turns out.

cheers and have a good weekend, GF.

Will we get news this week?.

GF.

Well no news today.

GF.

Come on wheres the news??????????????????????????.

GF.

patience... they will come b4 end of Jan....fingers cross GF!

Fingers crossed indeed XM.

cheers GF.

Tipped in Aim and Ofex tipsheet as one of four shares for the year 2004.

cheers GF.

I'll double my stake later.....have a good gut feeling about this one.