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 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.

For you guys : AFE are also attending the Minesite Forum next Tuesday...

Feature Story



Date : June 18, 2004



The 17th Minesite Mining Forum Will Highlight An Eclectic Band Of Junior Mining Companies With Great Prospects.

Minesite Forums for the first half of 2004 go out on a very high note with an eclectic band of companies presenting next Tuesday. Producers are mixed with companies currently at the development stage as well as explorers with major projects on their hands. Half the companies are listed on AIM and half in Toronto and the geographical focus of their operations spans the world from Brazil to Vietnam, Tanzania to Finland and Sierra Leone to the Northwest Territories. The idea of these Forums is to allow selected companies, who have a story of real interest, to have access to London investors. These investors do not receive a surfeit of follow-up research from brokers in London and are not always up-to-date with trailblazers overseas except through Minesite.

African Eagle promoted itself from Ofex to AIM at the turn of the year and is run by a team of proven mine finders led by John Park concentrating on projects in East Africa. The two priority projects are Miyabi in Tanzania’s Lake Victoria goldfield and Eagle Eye, a copper -gold deposit in Zambia. Drilling has 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.

Stockbroker Seymour Pierce has recently come out with a recommendation of African Eagle shares entitled ‘Time For Takeoff’. The Forum may provide the necessary acceleration as the company has adopted a low profile since Gold Fields decided not to proceed with the joint venture at Miyabi. Not to much should be read into this as majors have targets for the projects in which they maintain an interest which has little in common with a junior. In the case of Gold Fields it is based on the the ‘2s’ – 2 million ounces of reserves, 200,000 ozs of annual production and 2 years for development. It is a very tall order and decisions are made at an early stage. The brokers think that some interesting drilling results will be forthcoming from the current programme at Miyabi and reckon that patience will be rewarded at Eagle Eye which could prove to be a big one.

http://www.minesite.com/archives/features_archive/2004/june-2004/forum180604.htm