AEA - African Eagle Resources Plc - Appointment of Ocean Equities Ltd as Joint
AEA
AEA
AEA - African Eagle Resources Plc - Appointment of Ocean Equities Ltd as Joint
Broker
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: GB0003394813)
(JSE share code: AEA JSE ISIN: GB0003394813)
APPOINTMENT OF OCEAN EQUITIES LTD AS JOINT BROKER
African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE,
AltX: AEA) are pleased to announce the appointment of Ocean Equities Ltd as
joint broker to the Company with immediate effect.
Ocean Equities Ltd will
join Seymour Pierce Limited in providing broking
support, analyst coverage and related services to African Eagle.
Ocean Equities Ltd has particular expertise in the resources sector and
represents a number of mineral and resource clients.
September 2, 2010
Sponsor
Merchantec Capital
For further information, see the Company`s web site www.africaneagle.co.uk or
contact one of the following:
Mark Parker
Managing Director
African Eagle
+44 20 7248 6059
+44 77 5640 6899
Nicola Marrin
Seymour Pierce Limited, London
Nominated Adviser
+ 44 20 7107 8000
David Banks
Seymour Pierce Limited, London
Corporate Broking
+ 44 20 7107 8000
Guy Wilkes
Ocean Equities Limited
+44 20 7786 4370
Charmane Russell
Russell & Associates, Johannesburg
+ 27 11 8803924
+ 27 82 8928052
Ed Portman / Leesa Peters
Conduit PR, London
+44 20 7429 6607
+44 77 3336 3501
About African Eagle
African Eagle is currently developing the major Dutwa nickel laterite in
Tanzania. The Company discovered Dutwa in 2008, completed a scoping study on in
June 2009, and is currently conducting a feasibility study. The deposit contains
92mt at 0.88% nickel (JORC
inferred mineral resource). Initial metallurgical
work indicates that the laterite will be able to be processed with standard heap
leaching and no need for a costly HPAL facility. African Eagle is also
evaluating a second promising nickel laterite deposit at Zanzui in Tanzania,
50km south of Dutwa which is currently in the drilling and testing phase.
In December 2008, African Eagle resolved to prioritise the Dutwa project,
because the Board believes that, of all the Company`s projects, it offered the
greatest potential to add value. To take its other discoveries into production,
African Eagle is seeking industry partners with records of successful mine
development, by means of joint ventures, farm-ins, spin-outs or other
mechanisms. These include: a 49% interest in the Mkushi Copper Mines joint
venture project in Zambia, for which a draft feasibility study was completed in
Q4 2008; the Miyabi gold project in Tanzania which has
a half a million ounce
JORC gold resource; the Ndola and Mokambo projects in the Zambian Copperbelt;
and the Igurubi gold project in Tanzania.
Zambia, Tanzania and Mozambique, the sites of African Eagle`s projects, are all
countries which have highly prospective geology, relatively low above-ground
risks and track records of successful major investments in the metals and
minerals industries.
Date: 02/09/2010 17:30:04 Produced by the JSE SENS Department.
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