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.

This is the response I got when I wrote to AFE: Need patience investors!!

Thank you for your interest.

You will be aware that this is the rainy season in East Africa so it is difficult to resume drilling until the rains stop.

There has been a good deal of interest in Miyabi since Gold Fields decided not to exercise their option, and we are negotiating. Likewise there has been interest in Eagle Eye.

There are soil and other geochemical results for several projects in the pipeline and we will announce them in due course.

We are an active company and you can expect to see a regular flow of news over the coming months.

Best regards,

Mark Parker
MD

Thanks XM

I get the impression that AFE know that they are sitting on a mountains of copper and a tidy sum of gold. They are just biding their time to give a full picture after the rains for the copper. The gold would be a bonus!!

remember...(afe website)
"The results show that the mineralisation is far more extensive and potentially richer than previously anticipated."

"Eagle Eye is a large mineralised system which we have only pinpricked by drilling so far. We were able to complete 11 of 30 planned drill holes and the results show the highly prospective nature of Eagle Eye"


Basically what they have found so far in eagle eye than expected.
The price is stable although in my opinion undervalued, however as highlighted previously patience is key. more tests at eagle eye may not START until the end of April.(Such a shame the rains came early.)...However there could be movement in the mean times on miyabi or even an announcement that the drilling on eagle eye has started early.

If they find a large Copper deposit we are in for a big party. Copper is at its highest, though gave way a little. Demand is at its highest and reserve are very low. See earlier comments I posted on this. Also take the example of MNA, a superb case in share rising in the copper market.

This has been well oversold and has started to rise back in the last 2 days. Should get back to between 24-26p and will rocket after the rains in 6+ weeks.

Spread has just closed to 20-20.5 and you can buy online at 20.25. this share should go up strongly purely on the price of copper which is going to become headline news in the next few weeks as reserves run out. Get in ahead of the crowds as this is now a copper play and the way forward, gold has lost its shine!

GF, any views on this at the moment with reference to the copper price, how many days are the exchanges tradin on at the moment, anyone know?

I EH, everythings gone quite on this one for the time being, seemingly its the rainy season until April where they are a prospecting/etc. Think theres an e-mail from the gaffer on this, on the thread a page back.

cheers GF.

I think that this is a short term winner at least, on thursday when everything was dropping like a stone, AFE went up proving that picking the right stock pays and that there is strong support for AFE in the short term. this also indicates that investors believe that this is undervalued at the current price. I would expect the strength to continue and that a re-evaluation will occur due to the copper deposits found, espcially given the price of copper at the moment. If the worlds copper reserves fall even more then it could make front page news as virtually everything electronic uses copper in one way or another. My experience is that a situation where there is an excess demand for a raw material, given a short term fixed supply, should lead to significant increases in share prices of producers/owners of that raw material.

Still everything a buy (like most of lat week and this week), the MM's are holding out but not for much longer, you can run but you can't hide boys!

The MM's will have to move the spread up soon, can anyone shed any light on why AFE didn't go down last week when everything else was falling?

Can't understanda why this is going down, a nice 100k buy at the close. AFE is into copper and gold, both of which are showing strength.
SAN FRANCISCO (AFX) -- Inflationary concerns drove investors to the precious metals market, sending April gold to a close of $411.30 an ounce, up $4.20. It's the highest closing level for futures since Feb. 18. It's the fourth-straight session of gains for the precious metal. And most metals futures follow suit, with May silver up 2.8 percent, May copper up 1.5 percent, and June palladium up 2.4 percent, but April platinum logged a minor loss, down 0.9 percent.

I here T1ps.com have a web cast out on this today with the CEO who is very bullish on all aspects of the company. Anyone a member who can give us a quick report??????.

cheers Gf.

hello all,

Another play Monterrico Metals have gone up 20% passing the 300p as I suggested. they have redefined for the better its copper and molybdenum reserves in Peru. This a good indicator of how may AFE behave if their copper in Eagle Eye proves to be viable.

Very surprised it hasn't jumped already, some information already out regarding the copper find from their last announcement. copper prices are rising faster than virtually anything else and there's very few copper related stocks that are listed apart from Monterrico and a couple of big buys. strong buy at the moment because the city will soon be jumping on anything copper related.

Still far more buys than sells yesterday and gold jumping $8 an ounce. Not just AFE but several gold stocks didn't tick up yesterday which is surprising as every extra $ on gold is more profits. I think the market is somewhat confused at the moment!

fill ya boots up this ones going north!!!
already up 1.5p today

RNS Number:0788X
African Eagle Resources PLC
30 March 2004



REVIEW OF PROGRESS, FIRST QUARTER OF 2004



In an extremely active first quarter of 2004, African Eagle has....


* Instigated a thorough review of all data generated from the Miyabi
gold project to date

* Received the first drill results from the Eagle Eye copper-gold
project in Zambia

* Recruited an experienced exploration manager for Zambia and Mozambique

* Signed an agreement to explore the Zanzui nickel/PGM project

* Signed option agreements over seven additional licences in the Lake
Victoria Goldfield

* Opened an office in the City of London



____________________________________________________



Miyabi data review


Over the past two years, African Eagle has completed extensive geological,
geochemical and geophysical surveys and carried out drilling programmes at
Miyabi. The Company's geologists are currently making use of a cessation in
drilling during the height of the rainy season to carry out a thorough review of
all results to date.



The 7km x 2km Miyabi mineralised corridor contains a major gold mineralised
shear-zone complex within altered mafic greenstone rocks characterised by high
soil gold geochemistry, low electrical resistivity, high IP and strong magnetic
anomalies associated with massive sulphides containing pyrrhotite. A schematic
map of the Miyabi mineralised corridor may be found on the Company's web site at
www.africaneagle.co.uk/projects-miyabi.html



African Eagle's past drilling at Miyabi has largely focussed on structures that
have been worked by local miners. The data review has revealed a number of
other drill targets, however, notably:



* Strike extensions to known mineralised structures, such as Ngaya,
Faida and Kilimani

* A granite-greenstone contact along the northwest of the mineralised
corridor

* A resistivity / IP boundary along the south of the corridor

* Numerous other IP, resistivity, magnetic and geochemical targets
within the corridor



African Eagle has also carried outgeochemical and geophysical surveys over a
wider area around the main corridor, covering all 625 square kilometres under
the Company's control. These surveys have revealed a significant new gold
anomaly, confirming that gold targets exist beyond themain corridor.



The Company's geologists believe that there is potential for a gold deposit of
at least 1 million ounces to be discovered within the corridor by following up
the targets identified to date, and they are currently designing a drilling
programme aimed at testing these targets and building up the gold resource
inventory. With African Eagle now holding more than 90% of the project, the
Company is well placed to add substantial value and plans to undertake the next
phase of exploration utilising its own resources. For the longer term, several
major mining groups have approached the Company to discuss the future of the
project.





Drill results from Eagle Eye



Early in the quarter, African Eagle received the first results from its drilling
and trenching programmes at the Eagle Eye copper and precious metals project in
Zambia. The programme was designed to test some of many targets within extensive
iron-oxide-copper-gold (IOCG) mineralisation which had been revealed by the
Company's earlier geochemical and geological surveys. The results, which were
reported of 10 February 2003, were encouraging, demonstrating copper sulphides
in the system and showing some impressive mineralised intersections. The
drilling programme will recommence at the end of the rainy season expected in
May 2004. The Company plans soon to begin extending its detailed geochemical
survey to cover anomalies in the northeast, and is obtaining quotes for a
high-resolution airborne geophysical survey to be flown in May or June over the
whole licence area.





Recruitment of an exploration manager for Zambia and Mozambique



Now that African Eagle has demonstrated the potential of its holdings in the
region, the Company is pleased to report that it has recruited Clive Arthur as
Exploration Manager responsible for operations in Zambia and Mozambique. Clive,
who will be based in Lusaka, is an experienced economic geologist with over
twenty years in precious metals, base metals and precious stones exploration.



After graduating from the University of Aberystwyth in 1980, Clive joined
Anglovaal Ltd as a mine geologist, moving to exploration after three years. In
1987, after returning to Aberystwyth to take his MSc, Clive was appointed by JCI
as Senior Exploration Geologist. In 1990, he joined Anglo-American's basin
analysis team, working on the gold-bearing volcano-sedimentary basins of
southern Africa. In 1997, Clive left Africa to become Exploration / Project
Manager with Kazakhstan Minerals Corporation. Since 1999, he has been working
as an independent consultant, mostly on projects in Eastern Europe and the FSU.
He gained his MBA in 2003.



Clive is accustomed to working in Africa and is familiar with a wide range of
prospecting techniques, evaluation, engineering and extraction methods. He has
a thorough understanding of the business of exploration and mining and is highly
proficient in IT.





Agreement to explorethe Zanzui nickel/PGM project



The Company has signed an agreement with Shanta Mining Ltd for joint exploration
of the Zanzui basic complex in Tanzania, which has potential for nickel,
platinum group metals and gold. African Eagle controls thesouthern part of
this 180 square kilometre complex while Shanta holds options over the licences
covering the northern part. Under the agreement, the two companies will fund
exploration and share any discoveries in the ratio of the areas contributed, 60%
Shanta and 40% African Eagle. Shanta is managing the work and has already
almost completed a reconnaissance soil geochemical survey.





Option agreements over seven licences in the Lake Victoria Goldfield



In line with the strategy of acquiring and cost-effectively investigating areas
with gold potential, the Company has recently signed 6-month option agreements
with local Tanzanian partners over 7 prospecting licences in the Lake Victoria
Goldfield. If exercised, these options will grant the Group 90% holdings in the
properties, in consideration of the Group undertaking the exploration of the
licences and making annual payments between US$ 700 and US$ 6,000 per licence.



A schematic map showing the geology of the Lake Victoria Goldfield and the
locations of all the Company's current options and licence holdings may be found
on the Company's web site at www.africaneagle.co.uk/projects-tanzania.html



Also in line with its strategy of rapidly assessing licence areas, the Company
has relinquished its options over prospecting licences 1747/2001 (Ekta) and 2084
/2002 (Zig-zag).



London office



During March, the Company opened an office in the City of London. The new
office will be the Group'sheadquarters and will allow the Company better to
maintain contact with its investors and stakeholders and to expand its UK-based
technical capabilities.



The office is at:


2nd Floor Tel +44 20 72 4860 59
6-7 Queen Street Fax +44 20 76 91 77 45
London EC4N 1SP Email info@africaneagle.co.uk



John Park

Chairman, African Eagle Resources plc




For further information Tel Fax
John Park (Chairman) African Eagle 00 61 7 5528 6750 00 61 7 5528 6750
Mark Parker (MD) African Eagle 015 9067 9420 020 7691 7745
Leesa Peters or Laurence Conduit PR 078 1215 9885 020 7936 9100
Read
Matthew Robinson Durlacher 020 7459 3600
John Robertson Nabarro Wells 020 7710 7400 020 7710 7401



Note to editors



African Eagle is an AIM-listed exploration company active in East Africa. The
Company's strategy is to build up an asset base by discovering or acquiring gold
and other mineral deposits, and to realise value for shareholders by selling or
spinning-off successful projects or though a takeover of the Company.



See our web site www.africaneagle.co.uk for information aboutthe company and
its projects, and to view past news releases.


This information is provided by RNS
The company news service from the London Stock Exchange
END

(Thanks to smow1)
in summary;
"These surveys have revealed a significant new gold anomaly"
> "potential for a gold deposit of at least 1 million ounces"
> "African Eagle now holding more than 90% of the project"
> "several major mining groups have approached the Company"
> Joint project in Tanzania - "which has potential for nickel, platinum group metals and gold"

All of this on top of Eagle Eye with the huge copper deposit due to start test drilling again in early May. Plus looks like we may have more copper further North - "Company plans soon to begin extending its detailed geochemical survey to cover anomalies in the northeast"

Well undervalued due to a bit of rain. 30p looked cheap at the time before the rainy season started, 20p is a complete bargain. Expect rapid price rise as news gets around and the drilling restarts.

up 3% today. lots more to come

Added to these over the last month. Things starting to develop.

cheers Gf.

up 7.1% today @ 15p
Announcent due very soon to say the rainy season over and drilling to restart. Share price oversold. Get in before the announcement!!!
GB