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.

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

up another 1.2% today.

Up 8.3%on yesterday... waitng for announcements probably a week away!!

greedy...just so that you dont keep messaging yourself I thought I would join in ...I have always been saying that this one will take off from May onwards once drilling starts again...however like many others I got in too early...about 24p including costs. A lesson to be learnt here but nevertheless 'the only way is up' as they say....Goldfinger you have been very quiet on this one...any views and do you think the sellers are now returning

rgds...piston broke

Cheers Piston for joining.
I will carry on messaging myself if the price goes up as it has in the last 2 days.

If it's any consolation I am averaging at 24p thinking that at the time that this was cheap, although I still believe in this share and would recommend that at this current price is a steal. The rainy season will end...guaranteed. You wont find too much negative on this share check out the advfn thread.

gb...was that messaging or massaging

I think I will be doing both if it keeps going up!!

Up already by 6% Today .....Can't be just down to my ramping!!!

For anyone new thinking about investing in this, check out this article and remember that nothing has changed except that we are waiting for the end of the rainy season to finish and the restart of drilling.

http://www.minesite.com/archives/features_archive/2004/feb-2004/AfricanEagle110204.htm

up 7% Wednesday
up 7% thursday
up 4% Friday
If this doesn't go up on monday (which I am convinced it will) then I will never post on this site again with my ramping comments!!!!!!!
drilling to restart any day now after end of rainy season.

PARIS (Reuters) - Once the darlings of the market, gold funds have posted significant falls in the last month but according to Merrill Lynch Investment Managers recent gold price falls are simply a correction in an upward trend.

"We're very confident gold is going to remain in a rising trend," Evy Hambro, manager of the Luxembourg-based $1.8 billion Merrill Lynch International Investment World Gold fund told Reuters on Friday.

His fund was down 15.85 percent during April, according to fund research firm Lipper, but is still showing a 54 percent gain in the year to April compared with an average for the precious metals sector of 30.9 percent.

The gold price has tumbled in recent weeks to around $381 an ounce from $426.25 at the end of March due to the recovery in the U.S. economy and the dollar.

Gold is often used as a hedge against the dollar so its change in direction has led speculators to unwind their gold positions.

The fall has hurt French funds invested in the precious metals sector. According to Lipper, this was one of the worst performing fund sectors in April with an average fall of 15.48 percent.

Nevertheless, Hambro remains positive on gold and said there were a number of factors, on both the demand and supply side, supporting a strong price.

"The supply of gold is continuing to fall, there have been few significant gold discoveries in recent years and most of the current mines have been producing gold for around 20 years," he said.

The price of gold hit a low of $252 an ounce in September 1999 because of uncertainty over central bank sales of the yellow metal. Since then, central banks have agreed to cap their selling and at the same time investor demand for gold has risen, from 400 tonnes in 2002 to 900 tonnes in 2003.

Hambro said he expects investor demand to remain strong as more institutions consider gold as a tool for diversification.

Regulations by the Chinese government restricting gold purchases are also being lifted allowing the gold market in China, the fourth largest in the world, to open up.

"Our view on gold is that it's trading too low relative to trading capacity. There's a deficit and that has to be positive for prices," said Hambro.

Company World Gold Council
TIDM
Headline Gold Demand Trends 1Q04
Released 07:00 2 Jun 2004
Number 3012Z


PRESS RELEASE

WGC Reports Gold Consumer Demand Up Q1 2004

London, 2 June 2004: Figures published today by the World Gold Council reveal that consumer demand for gold has improved over the last year. Consumer demand for gold (jewellery and net retail investment) was up by 12% in tonnage terms, and by 30% in dollar terms, in the first quarter of 2004, compared to the somewhat depressed levels of a year earlier.



The World Gold Council reports that although complicated by the sharp upward movement in the gold price, consumer demand for gold actually increased in monetary terms during the period since 2001.



Commenting on the supply/demand dynamics for the first quarter 2004, James Burton, Chief Executive of the World Gold Council (WGC), said: In the face of a 55% rise in the dollar gold price, historically we would have expected consumer demand to recede due to the sensitivity of Asian and Middle Eastern markets to price volatility. Actually this quarter, the money flowing into gold from consumers was 37% up on Q1 2002 in dollar terms, and 25% higher than in Q1 2001, demonstrating a positive underlying trend.



He warns, however, that the global economic and political uncertainty of Q1 2003 depressed the figures of the same period a year ago. It is fair to say that confidence is returning to gold, yet gold continues to face competitive pressures for share of wallet in all of its key markets, he said.



Jewellery Demand

Among the markets participating in the recovery in jewellery demand for gold, strong year-on-year rises were recorded in India (21%), Vietnam (36%) and Turkey (38%) in tonnage terms. Highlights for the largest international markets are:



India and East Asia
- Jewellery demand was up in India by 21% in tonnage terms and 33% in local rupee terms on Q1 2003. This is due to favourable (rupee) price trends, a strong economy, and rural consumers (who account for over 60% of demand) benefiting from the after effects of 2003s generally good monsoon.



- In China demand rose by 6% in tonnage terms and 23% in price (renminbi) terms. Despite the booming economy, demand for gold jewellery is still somewhat dampened by the overhang from the earlier restrictions and state controls. The strongest demand in the quarter was for 18 carat gold. This follows the WGC-backed K gold initiative that promotes 18 carat gold, both yellow and white, in Italian-inspired design. This has been selling well with 60-70% of demand in white gold, demand for which has also been stimulated by the high price of platinum.



Middle East and Turkey
- The strong oil price provided a background of consumer optimism in Saudi Arabia and UAE, where both countries reported strong year-on-year rises in tonnage terms, with an increase of 11% and 22% respectively.



- Jewellery demand showed a 14% recovery in Egypt helped by price trends and by the reduced black market rate for the US dollar. Jewellery imports resumed following the disappearance of the local price discount to international prices and scrap outflows lessened.



- Sustained high economic growth coupled with strong promotional spending and heavy media coverage resulted in jewellery demand in Turkey leaping by over a third in tonnage terms from what was already a strong Q1 in 2003.



USA
- Jewellery demand in Q1 in tonnage terms in the USA was 6% higher than a year earlier (23% in dollar terms). The year started well, albeit from a depressed Q1 2003, with a strong Valentines Day and this positive trend has continued into Q2.



Industrial Demand
The first quarter of this year saw a steady rise (8% in tonnage terms and 26% in dollar terms) in industrial demand for gold. The improvement began in mid-2002 as the beneficial technical properties of gold were increasingly employed within new electronic products, and the electronics industry recovered.



Investment Demand
Net retail investment is up 14% year on year in tonnage terms. Demand in Japan was particularly strong (up 48%) on the back of continued concern over the economy. In Vietnam, demand more than doubled.



After the heady rise seen in 2003, net institutional investment demand paused for breath in the first quarter. Demand was brisk in January fuelled by the markets expectation of further price rises as well as growing interest in commodities and in alternative investments generally. However, the fall-back in the gold price caused a natural shift in many investors attitudes; as existing profits were taken, new investment dried up.



Supply

Overall supply of gold was 7% lower in tonnage terms than one year earlier.



The first quarter of 2004 saw the announcement of the renewal of the Central Bank Gold Agreement (CBGA 2)* in March, confirming the importance of gold as a central bank reserve asset. Net central bank selling of 96 tonnes was lower than a year earlier with sales by Switzerland, Norway and routine sales by the Philippines, partly offset by an acquisition of 28 tonnes by Argentina.



Early indications for Q2 2004



Jewellery
Initial indications are that demand for jewellery continues to remain robust in key markets and comparisons with Q2 2003 will be favoured by the effect of SARS a year ago. Provided there is no sudden price increase, consumer demand should be generally higher in tonnage terms than a year earlier. This is not expected to be the case in India, despite a good May wedding season, because of the exceptional levels of Q2 2003.



Initial import numbers for the US suggest that there has been some recovery in demand, whilst the immediate outlook for all the Middle East regions, including Turkey, is for continued good growth off the back of soaring oil prices and strong economies.



James Burton added: While early indications are positive, it is the World Gold Councils function to play a key role in maintaining momentum, and ensuring that gold jewellery is a desirable and relevant product for women in our key markets. Overall, we anticipate that the results of initiatives with leading retail partners will start to have a positive impact on figures going forward. In addition, our promotional activities in China, which saw the introduction of K-gold in Beijing in the beginning of Q2, and our Italian-designed Gold Expressions range, which has been promoted throughout all of our major markets, will help to build on the early positive results of Q1.



Investment
The speculative sell off of gold investment appears generally to have continued, and may have intensified. However, volumes may be positively affected by the increase of tonnes in trust in the WGC-backed Gold Bullion Securities (GBS). When re-launched in the beginning of Q2 in response to market feedback, GBS saw a doubling of net assets under trust to US$660m**.



Central Banks
In Q2, we will continue to see controlled sales of gold by some central banks within the confines of the Central Bank Gold Agreement.



James Burton commented: Now that the central banks have concluded the second CBGA in a timely fashion, the market is likely to take any further central bank activity in its stride. The renewed agreement has set an official framework and will prove to be a significant anchor for the gold market in the future.


Contact:

For further information, contact Anita Saunders, head of public relations, on 0207 826 4716, or 07769 682373 or e-mail anita.saunders@gold.org.



Footnotes:

* Like its predecessor, Central Bank Gold Agreement (CBGA 2) will run for five years, from September 2004 to September 2009. The maximum amount of gold that can be sold is higher than CGBA 1 at 2,500 tonnes (compared with 2,000 tonnes) over five years. Interestingly, while the first agreement specified that sales each year would be around 400 tonnes, under CBGA 2 sales each year will be a maximum of 500 tonnes.

**Correct as of 26 May 2004.



Notes to Editors:



The demand statistics in this note are compiled by GFMS Ltd for the World Gold Council (WGC). The commentary is supplied by the WGC.



Copyright 2004. The World Gold Council (WGC) and GFMS (Gold Fields Mineral Services) Ltd. All rights reserved.



The use of the statistics contained in this press release is permitted for review and commentary (including media commentary) with the clear acknowledgement of GFMS as their source. Whilst every effort has been made to ensure the accuracy of all information used in this document, neither GFMS nor the WGC can guarantee such accuracy and neither GFMS nor the WGC accept responsibility for any losses or damages arising directly, or indirectly, from the use of this document.





World Gold Council
The World Gold Council (WGC), a commercially-driven marketing organisation, is funded by the worlds leading gold mining companies. A global advocate for gold, the WGC aims to promote the demand for gold in all its forms through marketing activities in major international markets. For further information visit www.gold.org.






END

ANNUAL REPORT PUBLISHED AM TODAY FOR 2003 CAN BE SEEN ON WEBSITE A/EAGLES WEBSITEhttp://www.aficaneagle .co

Afe are going to be presenting at the 17th minesite forum. Could they be announcing a major find???

http://www.minesite.com/register15.php

"African Eagle is an AIM listed company with a team of proven mine finders led by John Park concentrating on projects in East Africa. The two priority projects are Miyabi in Tanzanias Lake Victoria goldfield and Eagle Eye, a copper -gold deposit in Zambia. Drilling has just re-started at Eagle Eye following a prolonged rainy season and the indications are that it could prove to be an iron oxide copper gold deposit like Olympic Dam in Australia . This could be a company maker and some interesting results may be to hand by the time of the Forum. The companys portfolio is well spread through projects with potential for gold, PGMs, copper and nickel discoveries"

just a reminder:::

17th Minesite Mining Forum
Tuesday June 22, 2003

Great Eastern Room
Great Eastern Hotel
Liverpool Street
London EC2M 7QN

Times of Seminar: 09:30hrs-Lunch.

Registration will commence at 09:00 and the forum will start at 09:30


The companies due to present at this Forum are:


--------------------------------------------------------------------------------

African Eagle is an AIM listed company with a team of proven mine finders led by John Park concentrating on projects in East Africa. The two priority projects are Miyabi in Tanzanias Lake Victoria goldfield and Eagle Eye, a copper -gold deposit in Zambia. Drilling has just re-started at Eagle Eye following a prolonged rainy season and the indications are that it could prove to be an iron oxide copper gold deposit like Olympic Dam in Australia . This could be a company maker and some interesting results may be to hand by the time of the Forum. The companys portfolio is well spread through projects with potential for gold, PGMs, copper and nickel discoveries.