Company Information for African Eagle Resources
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Company Statement
African Eagle is a UK-incorporated mineral exploration and development company operating in Zambia, Tanzania and Mozambique. These countries all have highly prospective geology, low above-ground risks and track records of successful major investments in the metals and minerals industries.
Since discovering a major nickel laterite deposit at Dutwa in Tanzania, African Eagle is in transition from an explorer into a nickel mining company. The Company completed a positive scoping study on the Dutwa deposit in July 2009 and is now working towards a full feasibility study.
Current Operations
ZAMBIA
The Company’s operating subsidiary in Zambia is Katanga Resources Limited, which has a staff complement of about 20 people, including long-term contractors. Katanga’s office is in the capital, Lusaka.
Our projects in Zambia are Mkushi Copper Mines; Mokambo and Ndola in the Copperbelt; Sasare Eagle Eye; and Lunga.
Mkushi Project
African Eagle is developing former open pit and underground mines at Mkushi Copper Mines in central Zambia in joint venture with CGA Mining Limited. A pre-feasibility report was completed in January 2008 and the components of a definitive feasibility study were in place in Q4 2008. The decision to develop the mine has been deferred, however, in view of the turbulent global markets and uncertain fiscal regime in Zambia.
Mokambo Project
The Mokambo Project contains mineral deposits which were discovered in the 1950s. It is situated 90km northeast of Ndola in the Zambian Copperbelt and forms a narrow strip running along the border between Zambia and the Democratic Republic of Congo (DRC). African Eagle has conducted surface surveys and drilling, and has computerised all the previous exploration data.
Ndola Project
African Eagle has identified four copper targets within the large Ndola Project, which is located in the southern part of Central African Copperbelt in Zambia. One of these is a deposit known since the 1960s; the other three were identified from the Company’s own exploration results.
Sasare Eagle Eye Project
The Sasare Eagle Eye Copper-Gold Project, which lies in eastern Zambia, 450km from the capital city, Lusaka, contains a large iron-oxide-copper-gold (IOCG) system and Karoo-hosted uranium mineralisation.
Lunga Project
The Lunga Project contains multiple targets including copper-gold and uranium mineralisation. The project is located in the Lunga Basin in Central Zambia, approximately 320km northwest of the capital city, Lusaka and 200km southwest of the Zambian Copperbelt.
TANZANIA
African Eagle has an office in Mwanza, the main city of the Lake Victoria Goldfield area, and a representative office in the capital, Dar es Salaam. The Company’s operating subsidiary in Tanzania is Twigg Gold Limited, which has a staff complement of 12 people, including long-term contractors.
We have three advanced projects in Tanzania, namely Miyabi, Igurubi, and Dutwa.
Dutwa Project
African Eagle announced a JORC resource at the Dutwa laterite project in December 2008, amounting to 340,000t of contained nickel, and promoted Dutwa to become its top-priority project. The Company reported highly favourable metallurgical results in early 2009. The Project is located in the Kilimafedha greenstone belt of the Lake Victoria Goldfields, 100km east of Mwanza, and has potential for the gold and platinum group elements as well as the nickel.
Miyabi Project
The Miyabi Gold Project, in the Lake Victoria Goldfield of Tanzania, was discovered by African Eagle’s own geochemical prospecting team. Although African Eagle has drilled only part of the system to date, it has defined a JORC-compliant resource of 520,000oz of gold.
Zanzui Project
The latest drill results show that parts of the Zanzui layered basic complex have a nickel-enriched laterite blanket, with grades and thicknesses similar to those at Dutwa, suggesting that Zanzui may host another significant laterite deposit. The area also has potential for platinum.
Igurubi Project
The Igurubi Gold Project, located in the south eastern Lake Victoria Goldfields, contains several parallel gold-bearing shear zones in a contact between granites and greenstone rocks. From its widely-spaced drilling to date, the Company believes that the area has potential for at least 250,000oz of gold, probably much more.
Mozambique
African Eagle has an office in Cidade de Manica. The Company’s operating subsidiary in Mozambique is Twigg Exploration and Mining Limitada and has a staff complement of 9 people (including contractors).
African Eagle has 5 projects in Mozambique, two of which are being explored by farm-in partners.
The Majele Project, in the Alto Ligonha pegmatite belt, was recently optioned to Pacific Wildcat Resources Corporation, which can acquire an 80% interest in the project by exploring for tantalum, tin and niobium deposits. Sampling in late 2008 identified several promising targets.
Work on the Fingoe Project in western Mozambique is continuing with partner African Queen Mining, formerly Pan African Mining Corporation. Skarn-like copper-gold mineralisation and iron occurrences are reported in the area, suggesting that the area may be prospective for intrusion related or IOCG type mineralisation.
The Sena project area in central Mozambique is prospective for uranium. A radon emanation survey, still underway, has already identified significant anomalies.
Geographical Spread
African Eagle has exploration projects in Tanzania, Zambia and Mozambique
Board of Directors and Key Management
| Euan Worthington | Chairman |
| Mark Parker | Managing Director |
| Bevan Metcalf | Finance Director & Company Secretary |
| Geoffrey Cooper | Non-Executive Director |
| Chris Davies | Operations Director |
| Clive Arthur | Manager, Zambian Operations |
| John McDonald | Manager, Tanzanian Operations |
| Dr Chad Czerny | Project Manager (Metallurgy), Dutwa Oxide Nickel Project in Tanzania |
| Dinis Napido | Manager, Mozambiquan Operations |
| Anna Whitehouse | Administrative Manager, Overseas Operations |
Company Address2nd Floor, 6-7 Queen Street
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Additional Address/Key ContactTanzanian Office |
CapitalIssued ordinary shares; 296,762,128 |
Annual General MeetingJune | Year End31 December |
Nominated BrokersSeymour Pierce | Nominated AdvisorsSeymour Pierce |
Major Shareholders
| Holder | Shares | % |
| JP Morgan Asset Management | 24,156,461 | 8.14% |
| Phelps Dodge | 10,105,047 | 3.41% |
| TWP Finance | 9,515,499 | 3.21% |
| Directors | 7,182,387 | 2.42% |
| 6 holders with 1% to 3% | 35,087,181 | 11.82% |
| Approx 1335 holders with <1% | 210,715,553 | 71.00% |
| Total issued shares | 296,762,128 | 100% |
Related News
16/03/10 - African Eagle's Dutwa Nickel Laterite Project Is Generating Plenty Of Interest Amongst Potential Development Partners21/10/09 - African Eagle Plans To Spin Off Its Exploration Assets To Focus Solely On Development At The Dutwa Nickel Project
28/07/09 - African Eagle Keeps Faith With Its Retail Investor Base, But Will The Same Investor Base Keep Faith With African Eagle?
17/03/09 - African Eagle And European Nickel Get Down To Talking About The Dutwa Nickel Project In Tanzania, Although It’s Still Early Days
22/10/08 - Join The Dots At African Eagle’s Dutwa Nickel Laterite Project And A Good Looking Picture Starts To Emerge
26/08/08 - All Eyes Are Now On African Eagle’s Dutwa Nickel Laterite Discovery In Tanzania
Most Recent Statement
17/03/10 - Dutwa Update - Drilling Results09/03/10 - Dutwa Update - Appointment of Project Manager
22/02/10 - DUTWA NICKEL PROJECT - DRILLING RESULTS
21/01/10 - Statement re Dutwa Project Update
01/12/09 - Preliminary Results from Phase 2 Metallugical Testwork Received
30/11/09 - FURTHER DRILLING RESULTS RECEIVED FROM AFRICAN EAGLE'S DUTWA NICKEL PROJECT IN TANZANIA




