Aerte Grp Share Discussion Threads

[sharestriker] 16/5/2003 09:18

News Release 14 th May 2003

AFRICAN EAGLE RESOURCES plc

NEW SHARE PLACING
African Eagle Resources plc ("AER") is pleased to announce that the Company has reached agreement
regarding a second placing of equity in the Company to Orogen Holding (BVI) Ltd, a subsidiary of Gold
Fields Limited ("Gold Fields"). The placing will consist of 3,200,000 units, each comprising one AER
Ordinary Share and one half Warrant, at a price of 10p per unit, with a total value of £320,000. Each two half
warrants will entitle Gold Fields to purchase one additional Ordinary Share at a price of 11p at any time up to
31 March 2006. AER will apply at least 80% of the proceeds of this placing to the advancement of the
Miyabi gold project in the Lake Victoria Goldfields of Tanzania.
The new placing agreement makes certain changes to the existing agreement between AER and Gold Fields
regarding the Miyabi project:
• New licences acquired by AER within an agreed area of mutual interest around the existing Miyabi
project area will become subject to the Agreement. These licences increase the area covered by
the agreements by more than 150% to 576 sq km.
• The exclusive right granted by AER to Gold Fields to enter into a joint venture with AER on the
Miyabi gold project is extended until 31 December 2003.
• On exercise of the right to joint venture, Gold Fields will be able to earn 51% of the Miyabi project by
spending a further £2,000,000 on exploration, an increase of £500,000 over the £1,500,000
expenditure commitment originally agreed. The right to earn an additional 19% by completing a
bankable feasibility study on the property remains unchanged.
The agreement has been approved by AER's Board and Gold Fields' Executive Committee, subject to
drafting and execution of the relevant instruments and completion of due diligence.
AER is delighted with the continuing confidence shown by Gold Fields in its projects, operations and
management, and looks forward to continuing progress on the Miyabi gold project. Work completed at
Miyabi so far, in collaboration with Gold Fields, has included deep regolith sampling with RAB and aircore
drills, airborne geophysics, multi-element geochemistry and regolith mapping. An extensive drilling
campaign to investigate targets identified by the work to date is programmed to start in June – July 2003.
AER will make a full announcement of resulting shareholdings after the placing has been completed.

Gold Fields reports that it is the world's largest unhedged gold company, with annual attributable gold
production of over 4.4 million ounces and attributable Mineral Resources of 187 million ounces and Mineral
Reserves of 79 million ounces. It has operations in South Africa, Australia and Ghana (West Africa) and
gold and platinum group metals exploration projects throughout the world. The principal trading market for
the Company's ordinary shares is the Johannesburg Securities Exchange in South Africa (GFI). The
company's American Depositary shares are listed on the New York Stock Exchange, also under the symbol
GFI, as well as being listed on the London, Euronext, Paris, Brussels, and Swiss exchanges.
AER is a UK-based minerals exploration company with a focus on gold in East Africa. Current projects are
located in Tanzania, Zambia and Mozambique.
John Park
Chairman, African Eagle Resources plc

[bankside investments] 05/5/2003 18:06

With Durlachers

[sharestriker] 29/4/2003 08:32

John Park (Chairman) will be in Lymington for the EGM and in London for the period surrounding the 21st May and looks forward to meeting up with many of you then.

[m1connection] 29/4/2003 08:20

Looking good to me-James.

[m1connection] 29/4/2003 08:19

Looking good to me-James.

[sharestriker] 29/4/2003 07:54

News Release April 28, 2003

AFRICAN EAGLE RESOURCES plc

APPOINTMENT OF BROKER AND NOMAD
AND NOTICE OF EXTRAORDINARY GENERAL MEETING

African Eagle Resources plc, the East African focussed gold and minerals exploration
company, announces its intention to seek admission for its shares to be traded on AIM by mid-year.
At the same time the Company plans to raise additional finance in order to explore its
properties including the recently acquired projects in Zambia.
The Company has engaged Nabarro Wells & Co. Limited as Nominated Adviser and Durlacher
Ltd as Broker, in conjunction with VSA Resources Ltd as a placing agent.
To facilitate the raising of additional equity the Company seeks to increase its authorised
share capital to £2 million, divided into 200 million ordinary shares of 1p each, and to empower
the directors to issue and allot shares up to the increased nominal amount of the authorised
but unissued share capital. The increase in share capital also requires a formal amendment to
the Company's Memorandum of Association.
Resolutions to give effect to the increase in the Company's authorised share capital and the
directors' authority to issue and allot shares will be put to shareholders at an Extraordinary
General Meeting, to be held at Stanwell House Hotel, High Street Lymington on Wednesday the
21 st of May 2003 at 2:30pm. A copy of the Notice of the EGM and the form of proxy will be
sent by post and may also be downloaded from the News pages of the Company's web site,

www.africaneagle.co.uk .

John Park
Chairman, African Eagle Resources plc

[sharestriker] 09/3/2003 22:23

African Eagle Resources plc Newstrack Announcements 06/03/2003

AFRICAN EAGLE RESOURCES plc
PROPOSED MOVE TO AIM

In its news release of 27 September 2002, the Company announced its intention
to seek admission to AIM before the end of the year.

A decision to defer this move was taken in late November following minor
delays, now resolved, in obtaining Zambian government approvals for the
transfer of beneficial control over prospecting licences in that country on the
Company's acquisition of African Eagle Resources Limited.

African Eagle's board considered that it would not be in the best interests of
the Company or its shareholders to proceed with admission to AIM and a
financing at that time, given the prevailing difficult market conditions and
the proximity of the end of the year.

The Company is keeping the situation under review and further announcements
will be forthcoming.

John Park
Chairman, African Eagle Resources plc

[bankside investments] 09/3/2003 21:32

Looking good now for a move to AIM ?

[sharestriker] 07/3/2003 11:31

News Release 7 March 2003

AFRICAN EAGLE RESOURCES plc

AFRICAN EAGLE DISCOVERS AN IRON OXIDE COPPER GOLD TYPE-DEPOSIT
ON ITS SASARE LICENCE IN ZAMBIA

Sampling of old prospecting pits, trenches and shafts at African Eagle's Sasare licence in eastern Zambia, coupled with remote sensing studies, geological modelling and a thorough review by the Company of past exploration data from the area, all indicate that the licence area contains Iron Oxide Copper Gold (IOCG) type-deposit.
IOCG deposits are extremely attractive exploration targets owing to their potential for high grades and large tonnages.

World class IOGC deposits include Olympic Dam in Australia (2,000 Mt at 1.61% Cu, 3.5g/t Ag, 0.6 g/t Au and 0.06% U); Ernest Henry in Australia (166 Mt at 1.1% Cu + 0.5 g/t Au) and Candelaria in Chile (366 Mt at 1.08 % Cu, 0.26 g/t Au and 4.5 g/t Ag).

[bankside investments] 23/2/2003 11:40

www.minesite.com

[bankside investments] 23/2/2003 11:37

The Mining World Has Decamped To Cape Town For The Annual Indaba.

The sun is shining brightly in Cape Town and the mining world and his wife, or somebody else's, are there for the annual Indaba conference. The temperature is around 30 degrees, which is more than thirty degrees warmer than London; the sea is blue, but the sea is cold. Even so an intrepid member of the London contingent bought a surfboard, but so far it has not left his hotel room. This is the setting for what really amounts to a great big school reunion. Executives from mining companies all over the world go there to meet, greet, renew old acquaintances and maybe do a deal or two. John Park is hoping to repeat the performance of last year when he cut two deals with Gold Fields - one for African Eagle and the other for Hereward Ventures.

[sharestriker] 10/2/2003 22:06

African Eagle Resources plc - Acquisition of Interests in New Licences
African Eagle Resources plc Newstrack Announcements 10/02/2003

AFRICAN EAGLE RESOURCES PLC

AFRICAN EAGLE ACQUIRES NEW LICENCES
MIYABI AREA LAND POSITION DOUBLED

The Company is pleased to announce that it has acquired interests in six new
licence areas in the Lake Victoria Goldfield of Tanzania and in Mozambique.
The new acquisitions include

* two new licences totalling 241 square kilometres adjacent to the promising
Miyabi gold project, which is currently being evaluated under the terms of
an Agreement with Gold Fields Limited.

* an option to acquire a 90% interest in the Lubaika gold licence which
covers 42.1 square kilometres to the north of the Company's Msasa licence

* an option to acquire a 90% interest in the Bukwimba gold licence which
covers 10.3 square kilometres in the Siga Hills greenstone belt, and lies
between the Bulyanhulu and Golden Ridge deposits.

* a 137.2 square kilometres licence over the southern part of the Zanzui
basic complex, which has potential for platinum and base metal
mineralisation

* a full prospecting licence has also been awarded over the Company's Muazua
project area in Mozambique, where African Eagle has identified a major
nickel exploration target.

The Miyabi South licence (PL2072/2002) covers 154 square kilometres and
includes a large part of the Archaean greenstone outlier south of the Company's
existing Miyabi holdings. The "Zig-zag" licence (PL2084/2002) covers 87.3
square kilometres to the east of the Miyabi holdings.

African Eagle's regional work around Miyabi has indicated that both licences
contain structures with gold-bearing potential, notably major shear zones and
extensive granite-greenstone contacts. There are also abandoned artisanal and
colonial era gold workings within the new areas.

The two new Miyabi licences increase African Eagle's Miyabi land position by
104% and are seen as valuable additions to the Company's portfolio in this key
mineralised area. The new licences will be explored and evaluated under the
terms of the "area of mutual interest" clause of the Company's agreement with
Gold Fields Limited on Miyabi exploration.

Also within the Lake Victoria Goldfield, African Eagle has signed option
agreements to acquire 90% interests in two additional licences. The Lubaika
gold licence (PL1618/2000) covers 42.1 square kilometres and lies just north of
the Company's Msasa licence. The Bukwimba gold licence (PL2049/2002) covers
10.3 square kilometres in the Siga Hills greenstone belt, and lies between
Barrick's Bulyanhulu mine development and the Golden Ridge deposit.

Earlier shallow RAB drilling by the Company over a soil gold geochemical
anomaly at Msasa intersected gold mineralisation up to 4g/t over 3m, and the
Lubaika option is along strike of this anomaly.

African Eagle's Zanzui licence (PL1973/2002) covers 137.2 square kilometres of
the southern part of the Zanzui basic complex to the east of the Lake Victoria
Goldfields and has potential for platinum and base metal mineralisation.

The Company has completed an initial ground magnetic survey over part of the
Zanzui licence area which has confirmed that the complex is strongly layered, a
key requirement for mineralisation of this type. The Company has acquired
reconnaissance geochemical samples to test for the presence of platinum and
other mineralisation, and intends to undertake follow up work including
drilling over the coming months.

The new licences at Miyabi and Zanzui are held under Prospecting and Mining
Agreements with local partners, under which the Company can acquire a 90%
interest in each licence in return for carrying out and funding all exploration
and making cash payments of up to US $10,000 per year. The two Option
agreements allow the Company to conduct preliminary fieldwork to assess the
properties before signing full Prospecting and Mining Agreements, in return for
option payments by the Company of up to US $500 per month.

In Mozambique, a full prospecting licence, (1010/L/2002), covering 38.3 square
kilometres, has been granted over the Muazua target which African Eagle
geologists identified in 2002. The licence covers an extensive area of nickel
mineralisation discovered by the Company within ultramafic rocks, about 2km
southeast of African Eagle's Majele gold licence. This licence, as with
African Eagle's other Mozambique licences is 100% owned by the Company.

In addition to these new acquisitions and as a part of the Company's ongoing
evaluation strategy African Eagle has relinquished its options over licences
PL540/1996 (Nikonga) and PL1874/2002 (Nyamalimbe) in Tanzania, after
exploration showed that gold mineralisation in these two areas was unlikely to
meet African Eagle's criteria.

John Park
Chairman, African Eagle Resources plc
[END]

Press Contacts Tel Fax
John Park African Eagle Resources 00 61 7 5528 6750 -
(Chairman)
Mark Parker African Eagle Resources 01590 679 420 020 7691 7745
(Managing Director)
Jonathan Willis- Loeb Aron & Co Ltd 020 7628 1128 020 7638 0756
Richards

The Directors of African Eagle Resources plc accept responsibility for this
announcement.

Loeb Aron, which is regulated by the Financial Services Authority, has approved
this announcement for release. Loeb Aron is acting as corporate adviser to
African Eagle Resources plc and to no-one else and will not be responsible to
anyone other than African Eagle Resources plc for providing the protections
afforded to customers of Loeb Aron or for providing advice in relation to any
investment made pursuant to this announcement.

[bankside investments] 10/2/2003 21:39

www.goldfields.co.za

[bankside investments] 10/2/2003 21:35

www.minesite.com

[bankside investments] 10/2/2003 21:34

Date : February 11, 2003

African Eagle Makes Encouraging Progress At Miyabi JV With Gold Fields In Tanzania.

It takes people time to get used to a change of name so African Eagle still does not slip off the tongue as easily as Twigg Minerals. Change of name or not, this company had an up-and-down year in 2002. A year ago outlines of two crucial deals were agreed at the annual Indaba mining conference in Cape Town and these were the joint venture with Gold Fields on the Miyabi project in Tanzania and the acquisition of African Eagle with its five projects in Zambia including a jv with Avmin. As a result Twigg, now African Eagle, wanted to promote itself to AIM and raise some more money. Unfortunately the tail end of 2002 was not a great time for corporate activity in London's mining sector following the demise of Navan Mining and the collapse of the Minmet share price and African Eagle's broker, Hoodless Brennan, had problems of its own.

The company therefore put its plans on hold and is now waiting to see if London has recovered its nerve and is prepared to back exploration stocks. Certainly there is money for these in Canada and to a lesser extent in Australia, but London is seeking advanced projects, preferably within a year or so of actual production. As investors get used to the new price regime in gold more funds will start to take an interest and this will encourage private investors. At the moment, however, brokers are remaining wary of taking on new clients. This is not a great problem for African Eagle as it is already listed on Ofex and is preparing to raise a modest amount of money with some help from Loeb Aron.

What it really needs to do is get its share price moving in token of the real potential of its exploration portfolio in Tanzania, Zambia and Mozambique. The latest news from Tanzania where African Eagle is exploring the Miyabi project in collaboration with Gold Fields is very encouraging. Gold Fields has an initial right to earn up to 51 per cent of the project by completing agreed work programmes and expenditures to a total value of £ 1.5 million. Subsequently Gold Fields can earn up to a total of 70 per cent of the project by completing a bankable feasibility study to a maximum value of an additional US$ 10 million.

Although it is a feather in any junior's cap to have such a partner, there is always the problem that a major works to its own agenda. Big companies want big deposits. Gold Fields is an excellent partner and very meticulous, but it is hunting elephants and is not interested in releasing news on early resource estimates as a junior has to do to keep the attention of its shareholders. In its last Annual Report Gold Fields divulged the parameters it sets itself for any exploration project in which it becomes involved. These targets are known as the 'Stategy of 2s' as the projects have to have a minumum of 2 million ounces of reserves, production rates greater than 200,000 ounces/year, a payback of capital investment within 2 years, a double digit rate of return and a commodity price 2 x the cash cost of production.

This is a demanding agenda, but if achieved at Miyabi the project would be a company maker for African Eagle provided it could maintain its interest when contributing the required development capital. It is still early days at Miyabi, but the Lake Victoria gold field on which it is situated is a prolific gold district. At the moment African Eagle is just starting a second programme of shallow drilling.. The drill targets have resulted from its multi-element soil geochemical survey over the gold mineralised areas. These surveys, and the use of relatively low cost shallow RAB and aircore drilling together with continuing geological mapping, will provide a much better overall understanding of the numerous gold-bearing structures within the Miyabi licences and enable the identification and prioritisation of drill targets for a subsequent resource definition drilling programme which will involve deeper RAB and diamond drilling later this year.

The current drilling programme is designed to sample the weathered greenstone below the thick iron duricrust which covers a large part of the gold field and tends to conceal gold mineralisation from geological and geochemical surveys. What has already been established from earlier drilling is that the bedrock gold mineralisation extends through a major part of the previously identified 7 kms geochemical anomaly and a large number of good gold values up to 6.94 g/t have been obtained. Clearly the partners have been encouraged by this progress and African Eagle will soon announce that it has acquired a significant number of new licences around what it described as this "area of interest." It would surely only have done this with the approval of Gold Fields.

[sharestriker] 06/2/2003 08:11

African Eagle Resources plc Newstrack Announcements 05/02/2003

AFRICAN EAGLE RESOURCES PLC

TANZANIAN EXPLORATION PROGRESS

MIYABI

African Eagle Resources plc ("African Eagle" or "the Company") is pleased to
report on recent exploration activities from its 90% owned Miyabi gold project
in the Lake Victoria Goldfields region of Tanzania.

Under contract to African Eagle, UTS Geophysics of Australia has begun an
airborne geophysical survey of the entire project area and Regolex of Australia
is close to completing geomorphological and regolith mapping. The Company has
obtained excellent high resolution data over the area from the new ASTER
satellite and generated a 15m resolution digital elevation model (DEM). The
Company has received the analytical results from its recent shallow drilling
programmes and from its multi-element soil geochemical survey, over the gold
mineralised areas. A second programme of shallow drilling to investigate
targets identified by the above work has commenced this week.

These surveys, and the use of relatively low cost shallow RAB and aircore
drilling together with continuing geological mapping, will provide a much
better overall understanding of the numerous gold-bearing structures within the
Company's Miyabi licences and enable the identification and prioritisation of
drill targets for a subsequent resource definition drilling programme which
will involve deeper RAB and diamond drilling.

At Miyabi and elsewhere in the Tanzanian goldfields, a thick iron duricrust
occurs over greenstone rocks and can conceal gold mineralisation from
geological and geochemical surveys. A good example of this effect is that only
about one third of the Nyankanga ore body within Ashanti Goldfields' Geita gold
system has an identifiable soil geochemical expression. African Eagle's
current programme of rotary air blast (RAB) and aircore drilling is designed to
sample the weathered greenstone beneath this duricrust.

In order to establish the extent of the near surface gold mineralisation at
Miyabi a 233-hole geochemical RAB programme was completed in December 2002 with
widely spaced holes drilled to an average depth of 10m. Assay results now
available confirm that the bedrock gold mineralisation at Miyabi extends
through a major part of the previously identified 7km geochemical anomaly, both
southwest and northeast of the areas already drilled by African Eagle. Despite
the exploratory nature of the holes, a large number of good gold values of up
to 6.94g/t. were obtained.

As part of the same geochemical drilling programme the first 67 holes using
aircore drilling were completed in December, around the northeast end of the
main Miyabi gold anomaly. The aircore holes, averaging 22m, were designed to
provide samples down to the "saprock" or part-weathered bedrock. The results
from the holes completed so far show that this newly explored northeast area
contains at least two 100m wide zones of previously unknown gold
mineralization. A number of gold bearing intersections, including 3m at
6.72g/t and 3m at 4.09g/t. were assayed within these two new zones
Additional aircore drilling over the next two months will investigate other
mineralised areas including a number of those revealed by the recent RAB
results.

Given the success of African Eagle's Miyabi exploration programme to date the
Company will undertake a deeper drilling programme later this year to pursue a
number of these newly discovered and previously known gold mineralised zones.

African Eagle is exploring the Miyabi project in collaboration with Gold Fields
Limited, which, on completion of the current evaluation programme has an
initial right to earn up to 51% of the project by completing agreed work
programmes and expenditures to a total value of GBP1.5 million. Subsequently
Gold Fields can earn up to a total of 70% of the project by completing a
Bankable Feasibility study to a maximum value of an additional US$10 million.

The Company's agreement with Gold Fields Limited provides for the acquisition,
under similar financing and operating terms, of additional Prospecting Licences
within an agreed "area of interest". The Company has recently acquired new
licences within this "area of interest" as well as new areas elsewhere in
Tanzania and in Mozambique. These will be the subject of a forthcoming news
release.

John Park
Chairman, African Eagle Resources plc