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

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

February 17, 2011 -- By Alex MacDonald Of DOW JONES NEWSWIRES

U.K. listed, Australia-based Baobab Resources Ltd (BAO.LN) is on track to develop Mozambique's first iron ore deposit, a move which could spur the creation of a steelmaking industry in the country's central province of Tete, the company's head of exploration said Saturday.

"It is possible that there are ways to get to steel production here in Tete: thermal power, hydro power [and coking coal are] in sufficient quantities," Iain Plews told Dow Jones Newswires as he surveyed a drill rig on top of Baobab's South Zone area.

He said the company may be sitting on a resource base of around 1 billion tons of iron ore or more once all the exploration has been completed.

Baobab is prospecting for iron ore in the Tete basin where several international mining companies including Brazil's Vale SA (VALE) and Australia-based Riversdale Mining Ltd (RIV.AU) are already developing mega coking coal projects for export.

A nascent steel industry however is still years away:

Baobab Resources is still in the process of proving that the size of its iron ore discovery is large enough to be make it a commercially viable venture.

Hopes are high. Baobab Resources has already proven that 47.7 million tons of magnetite iron ore exists on a small fraction of its Tete exploration area.

It expects that by around the middle of this year, it will be able to prove it has at least another 300 million tons of proven resources and possibly as much as 400 million tons to 700 million tons in proven resources.

Baobab, which is 7% owned by the International Finance Corporation, will then move the project into a feasibility study phase where it plans to outline the best options to develop the project.

The presence of cheap hydro-electricity close by and two railway lines means Baobab could contemplate processing or beneficiating the iron ore on site and even build a steel plant.

Baobab would like to boost the ferrous content of the ore on site from 25% to 30% on average to 60% to 64%. As part of the beneficiation process, Baobab would also have to strip Ilmenite out of the ore.

Ilmenite is used to make titanium dioxide, a key ingredient used in paints.

Baobab is modeling its project on the assumption that it will be able to mine 10 million tons of ore a year and produce two key products:

3 million tons of magnetite iron ore concentrate and 1 million tons to 1.5 million tons of titanium concentrate.

The iron ore deposit would be commercially viable with an iron ore price of $70 a metric ton, said Ben James, Baobab's managing director.

This compares with $191.9/ton price for iron ore fines with 62% ferrous content delivered in to China, according to The Steel Index Wednesday.

Baobab, which has a market capitalization of about GBP35 million, expects it will cost $9 million to complete this year's drilling campaign at five projects, another $50 million to develop a bankable feasibility study for the Tete iron ore project, and $500 million to mine and process the ore.

It would need another $4 billion to smelt the iron ore into steel, James said.

"A lot of companies our size wouldn't look at smelting but because of the IFC and our long term view of Tete, we can as a viable possibility," James said.

From a funding perspective, the company expects to tap an equity line to make sure it has enough cash to complete its drilling program.

It is also considering placing 10% to 15% of the company's shares with one or two large institutions.

"We're going to have to attract a partner to the project," James said.

He expects that Baobab could start producing its first iron ore in 2015.

On the move again, News coming!!! 8-) Any day now.

Ready for a BREAKOUT 20.75 / 21.25p +1p
MACD on the turning as the UPTREND is continuing

And now at that point of BREAKOUT 21.50 / 21.75p

rising and on a good level 2 of 2 v 2 after the last move was UP

MONEY AM - chart still on a mess after a week of problems

Has gone over the previous high so now is on a BREAKOUT 22p

30p coming cielo 8-))

Maybe but I close my position, allways do it on the spike

the level 2 was moving against with 1 v 5 at 22.25 v 22.50p and not able to sell online, so the broker done it on the phone just in time

Iam not in this to trade, Here for the long term. Great prospects. Will probally be brought out eventually thou. gltu

wow they`ve found more of the stuff. And more news to come in the next couple of weeks. 2011 gonna be making of this company. Not to late to climb abroad peeps 8-)

Print Tuesday 22 February, 2011Baobab Resources PLC
SOUTH ZONE DRILL RESULTS
RNS Number : 5918B
Baobab Resources PLC
22 February 2011



BAOBAB RESOURCES Plc

SOUTH ZONE DRILL RESULTS:

CONTINUING TO DELINEATE SUBSTANTIAL MAGNETITE MINERLISATION

22nd 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 present an update on the exploration activities currently underway at the Tete iron/vanadium/titanium project.

Highlights:

Analytical results have been returned from a three hole RC (reverse circulation) drilling cross section located in Block 1, the southernmost portion of the South Zone prospect. A broad, 140m wide, body of heavily mineralised magnetite is being delineated. (Refer to Tables 1 & 2 below for details).

Mineralised intercepts reported best concentrate grades of:

TRC0031 - two significant intercepts, totaling 59m, including:

25m @ 64.0% Fe, 0.65% V2O5 and 32.3% mass recovery from 32m

TRC0032 - three significant intercepts, totaling 38m, including:

20m @ 65.2% Fe, 0.65% V2O5 and 28.6% mass recovery from surface and

16m @ 64.7% Fe, 0.71% V2O5 and 31.2% mass recovery from 65m

TRC0033 - five significant intercepts, totaling 76m, including:

15m @ 60.1% Fe, 0.74% V2O5 and 29.7% mass recovery from 48m and

48m @ 60.0% Fe, 0.59% V2O5 and 47.1% mass recovery from 91m

Results from the next Block 1 section expected to become available within the next two weeks. Current drilling continues to delineate substantial mineralisation to the north.

Mr Ben James, Baobab's Managing Director, said: "Block 1 is demonstrating excellent continuity between completed drill sections with current work programmes pushing the model out to the north.

"We are pleased to advise shareholders that all areas drilled to date have delineated substantially wider zones of mineralisation than anticipated. Following earlier positive results, Baobab's exploration management team has designed an expansion drilling programme to test continuations of the ore zones," Mr James said. "The Company recommenced drilling in early February and intends to have 3 RC rigs set to be operational by the end of the month."



Step-out RC Drilling Programme - South Zone Prospect (Massamba Group)

Due to the significant widths and interpreted lateral continuity of mineralisation at the South Zone, the prospect has been prioritised for step-out reverse circulation (RC) drilling. The programme is systematically assessing a sequence of seven mineralised zones (Blocks 1 to 7) over a strike length of some 2km, drilling on traverses spaced 100m apart.

A total of 50 RC drill holes have been planned for a combined meterage of 7,000m. Drilling commenced in August and to date thirty three holes have been completed for an aggregate total of approximately 4,500m. All areas drilled to date have delineated substantially wider zones of mineralisation than anticipated. Baobab's exploration management team has designed an expansion drilling programme, representing an additional 4,000m, to test the down dip and along strike continuations of the ore zones.

Due to the early onset of the wet season in Mozambique, the Company was obliged to suspend drilling operations in mid-December 2010. Drilling recommenced on 9 February with two RC rigs currently on site and a third mobilising this week.

The first nine RC holes were drilled in Block 3 and tested the along strike continuations of mineralisation intersected in scout diamond drill hole TDH0019 over five cross sections. Analytical results from these drill holes were announced to the market on 20 October and 8 November 2010. Due to mechanical issues, drill holes TRC0006 to 9 did not reach their target depths (TRC0007 and 8 ended in mineralisation). These four drill holes will be re-drilled, at the operator's expense, in due course and updated intercepts will be reported as soon as they become available.

Please note that drill holes have not been drilled in sequence, consequently there are gaps in the hole numbering.

Drilling in Block 7, the northern most target area, over three east-west cross sections and an oblique cross section has intersected a stacked, 200m wide sequence of moderately to steeply dipping, heavily mineralised packages over a strike length of more than 300m. Mineralisation remains open both down dip and along strike with potential parallel lodes to the east. Please refer to announcements dated 30 November 2010, 17 and 26 January 2011.

Drilling over two cross sections in the southern limit of the South Zone prospect (Block 1) has a delineated broad, c.140m wide, zone of vertically dipping magnetite mineralisation. The lode is oriented north-south and is cross cut by northeast striking dolerite dykes. Results from the southernmost section are presented below. Further results from this area are expected to become available within the next two weeks. Current drilling in Block 1 continues to delineate substantial magnetite-ilmenite mineralisation to the north.

Shame this is on a red day, because the upper twenties would have been on the cards !.

nice slow rise through the day is what we want. Will be 30p soon enough. Patience.! lots more news to come