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.

what is the buy/sells ratio so far? GF

Was all buys at the time I posted XM.

cheers GF.

Guys...shedloads of sells today and one really strange one 800000 @ 14p... rgds...

The strange trade at 14p was broker to broker.

A tree shake looks to me, should to worry to much about that 800000 broker to broker deal- one sells and the other buys it. Hold on there. The number of trades is only 12, a very miniscule figure. If here was some bad news on the way, then the volume will rise a lot as well as the numnber of trades. xm

GF,
Do you have any views on the RNS this a.m. from AFE ?

Hi Saf,

Yes excelent drill notes, give me a bit more time and I hope to have an analyst note on them. I hope to send it via PM.

cheers Gf.

RNS in full........

African Eagle Resources PLC
14 September 2004


African Eagle Resources plc



NEW DRILL RESULTS CONFIRM ECONOMIC POTENTIAL OF IOCG STYLE MINERALISATION AT
EAGLE EYE


African Eagle (The'Company', LSE, AIM:AFE) today announces the first results
from its 2004 drilling campaign at the Eagle Eye copper and precious metals
project in Zambia. These initial results show wide mineralised zones up to 60
metres across with up to 0.75% copper.

Chris Davies, African Eagle's Operations Director, commented 'These new results
confirm the potential for economic grades and widths within the volcanic host
rocks. We are also conducting an airborne geophysical survey and a soil
geochemical survey over the whole extent of these volcanic rocks. The next
phase of our exploration programme at Eagle Eye will focus on unravelling the
geological factors controlling the mineralisation and on exploring new
potentially mineralised areas within the extensive volcanic sequence. We also
plan to drill at the old Sasare gold mine, which also lies within the licence.'


____________________________________



The Eagle Eye project lies within African Eagle's 100%-owned Sasare licence in
eastern Zambia. Exploration conducted by African Eagle in 2003 revealed an
extensive soil geochemical copper signature associated with widespread zones of
hydrothermal alteration and outcropping copper mineralisation of
iron-oxide-copper-gold style (IOCG). The limited drilling completed in 2003
defined mineralised zones up to 33 metres wide containing higher grade zones
with up to 5% copper.


2004 Drill Campaign

The 2004 drill campaign at Eagle Eye, amounting to 23 percussion holes,
commenced in late June and set out to test known copper, silver and gold
occurrences within a belt of mineralised volcanic rocks approximately 28 by 2
kilometres in extent. The majority of these holes are being drilled at the Mweze
prospect, which is situated near the centre of this belt. Laboratory turnaround
of assay results has been extremely slow but results have now been received from
about half the holes drilled. The remaining results are expected before the end
of the month.



The results, in combination with the drilling undertaken in 2003, demonstrate
the existence of a linear mineralised structure over several hundred metres at
the Mweze prospect.



Significant intersections along this structure include:


Hole From Interval Copper Silver

(m) (m) (%) (g/t)
MZR8 17 67 0.68
incl 24 60 0.75 1.23
and 65 7 2.41 7.3

MZR24 57 74 0.34
incl 57 10 1.08 1.85
87 4 0.81 2.47
95 5 0.86 3.14
120 11 0.48

MZR25 54 23 0.99
incl 54 21 1.06

*MZR11 138 12 3.0
incl 141 6 5.0
and 138 9 14.5

*MZR6 15 33 0.5
incl 18 3 12.5

*MZR9 36 12 1.1
incl 39 9 6.6
and 42 3


* 2003 drilling



The mineralised intersection in drillhole MZR8 equates to a true thickness of
around 56 metres, indicating potentially economic grade and thickness, and lies
beneath an 8m wide mineralised section grading 3.5% copper in a trench dating
from the 1970's. The mineralisation is hosted by intermediate volcanic rocks
with an albite specularite breccia forming the footwall.



Exploration overview



In addition to the drilling, African Eagle has completed soil sampling and
geological mapping over a continuation of the volcanic belt in a large fold
structure south and east of Mweze, which is considered highly prospective. This
work has already revealed a number of new occurrences of copper mineralisation.
The Company is currently flying an airborne geophysical survey over the licence
area, including the whole 28km-long volcanic belt and the old Sasare Gold Mine.



The new drill results, together with the airborne, geochemical and geological
surveys, will help African Eagle's geologists to determine the factors
controlling the mineralisation. Once these controlling factors are understood,
a programme of further drilling, including perhaps deep diamond drilling, will
be implemented to evaluate the mineralisation.



In addition to the Eagle Eye IOCG target, the Sasare licence area contains the
historic Sasare Gold Mine. Sasare was one of the first gold mines in Zambia and
was worked intermittently from 1906 to 1942. Gold was mined from two
gold-bearing structures approximately 2km apart along strike, with reported
widths of 1 to 2m and average grades of 8.0 to 9.6g/t.



Exploration work at the old mine by previous licence holders revealed
geochemical soil gold anomalies over both mineralised structures, with values
over the western veins exceeding 1g/t over a strike length of more than 700m.
Channel sampling in trenches across the mineralised structure returned values up
to 6.2g/t.



African Eagle has now re-compiled the old mine plans and exploration data, and
plans to conduct an exploratory programme of three drill holes to investigate
the western mineralised structure.



14 September 2004



John Park

Chairman, African Eagle Resources plc



cheers Gf.

Gf,
Can you send a copy to my PM as well if possible?
There are many conflicting opinions on the ADVFN board so a sober analyical assessment would be very welcome.Regards.

Why is the price dropping ? it was 18p+ at the opening .

Still waiting for analyst report, will PM it to anyone who wants it. They havent finished it yet.

cheers GF. Bloody strange goings on with the share price today mind thats nothing new with this one.

pls send it me too. back form hols. Ta

GF, can you,please, add me to the list? Thanks!

Many thanks! GF

FYI:

Commodities favoured as hedge funds set out their stalls
Tue 21 September, 2004 08:57

By Steve Hays

MONACO (Reuters) - Commodities-related investments have taken centre-stage at a major hedge fund conference in Monaco, with managers laying out their favoured strategies.

Hedge funds are credited with playing a large part in the rally in commodities markets, particularly in oil, and are also estimated to account for around 30 percent of total trading volume in equities markets.

"After 20 years of underinvestment, commodities are offering huge opportunities and IRRs (internal rates of return) of 45 percent," Philip Richards, chief executive of RAB Capital said on Monday.

He was speaking at the Information Management Network's High-Performance Investing Symposium.

Richards said RAB's funds were generating extremely high returns by focusing on companies with world-class underlying assets, but which were very undervalued by the equities market.

He cited the example of South African Resources, a South African platinum producer which he said had had management problems and required an extensive work programme to extract the value from its 50 million ounces of inferred metal reserves worth $50 billion in-situ.

RAB had bought 25 percent of the company at 2 sterling pence per share and later sold its stake on at 12 pence, he added.

Other companies RAB has large stakes in include Asian energy which is developing a big coal mine in Bangladesh and Falkland Oil and Gas, which has licences to explore for energy resources in a large area of the South Atlantic, Richards said.

Kevin Harrington, director of research at Clarium Capital Management, said his company was focusing on taking out long positions at the long-end in crude oil futures contracts a couple of years out, which avoids the volatility in nearby contracts.

These positions have shown a steady appreciation in the last two years, he added.

Hedge funds are also carefully studying the impact of high oil prices on Russian stocks and William Browder, manager of the Hermitage Fund -- the largest investment fund in Russia with $1.2 billion in assets -- predicted a sharp rally in equities before year-end.

"Russian stocks are up 3 percent and the oil price is up 35 percent, yet oil and gas make up 75 percent of the Russian stock market. The great oil boom hasn't hit because of the Yukos situation."

Browder said he believed Yukos had now been priced into Russian equities, which are very cheap trading at six times earnings, and with large liquidity being held out of the market in low or even negative yielding assets, it is likely this money would return to shares soon.

Renee Haugerud, chief investment officer at the Galtere International Fund, said her company was basing its trading strategy on its outlook for what it called "inverse stagflation" where it saw stable to falling interest rates and equities, and inflation in commodities prices.

She said such a scenario could still be positive for China, where huge demand for raw materials has played a large part in the rallies in commodities markets, if the Chinese revalued the yuan upwards against the dollar.

Such a revaluation would offset the rise in dollar-priced commodities, when prices for China's finished goods exports are stable or falling, Haugerud said.

Should be getting the next results from the Mweze prospect by the end of next week, thoughts anyone? goal.

Should be getting the next results from the Mweze prospect by the end of next week, thoughts anyone? goal.

Any comments on the RNS ? The views on the ADVFN board are generally positive.

Moving up nice & steady.goal.

African Eagle Resources plc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Reuters Investment Profile, 11 pages, 06 October 2004, Price: 10.00


Anyone have a copy? Published on 6 Oct 2004