News

March 11, 2008

African Eagle’s Directors Can Now Sleep At Night - By Day, They’ll Soon Be Making Money

By Alastair Ford

John Park, the chairman of African Eagle, is eager to move his company away from its former image of having its fingers in too many pies. The perception, as he well knows, was that African Eagle had over a few short years picked up more properties than it knew what to do with, and as drilling and other results came in from here and there, was apt to switch focus to such an extent that the market eventually lost track.

Anyone who follows the company knows that it still has an extensive portfolio of assets across Zambia and Tanzania – and even a couple in Mozambique – but two things have changed. The first is that time has marched on. By hook or by crook African Eagle has raised the money to make progress on its key assets, and has taken them to forward to such an extent that it now gets some time off, as joint venture partners of the ilk of Randgold and Freeport McMoran are footing the bills for a while. The...