African Eagle Share Discussion Threads

[the stigologist] 10/7/2014 09:15

worst trade ever ?

sold for $0.3m and worth almost 250-1000x more within 3 years

Thursday 23 February, 2012

African Eagle Announces Completion of the First Stage of Asset Disposals to Syrah Resources Limited

African Eagle (AIM: AFE; AltX: AEA) is pleased to announce that, in accordance with an agreement dated 25th October 2011 (the "Agreement"), it has completed the first stage of an asset disposal programme to Syrah Resources Limited (Syrah), an Australian minerals resource company listed on the ASX (ASX: SYR), and has realised proceeds of A$695,120 (approx. £470,000). The Company anticipates that the disposal of the remainder of the assets to Syrah will be completed later in the year. The proceeds will contribute to funding for the development of the Company's flagship Dutwa nickel project in Tanzania.
The Agreement pertains to the disposal of eight licenses, two in Mozambique, five in Tanzania and one in Zambia.

The Company has completed the disposal of Twigg Exploration & Mining Ltda., its Mozambique subsidiary, which holds the Balama Graphite and Sena Uranium prospecting licences. As a result consideration of A$325,120 (approx. £220,000) has been paid to the Company.

In Tanzania, Syrah has made a down payment of A$100,000 to cover the submission of applications to transfer all of the five licences. Of these, the Company's three Wembere prospecting licenses have now been transferred to Syrah, resulting in a further payment of A$270,000. Total proceeds for the disposal of assets in Tanzania to date amounts to A$370,000 (approx. £250,000). For the two remaining Tanzanian licenses, Tanga and Shikula licences, Syrah will pay the Company A$90,000 on the completion of the transfer of each (total A$180,000 (approx. £120,000)). The Company anticipates that both these transfers will be completed later in 2012.
The final licence is African Eagle's Sasare North licence in Zambia, which expires in July 2012. If on or after expiry Syrah applies for a new licence over all or part of its area, Syrah will pay the Company A$25,000 on submission of the application and a further A$50,000 if the application is successful.
Trevor Moss, CEO, commented: "The early completion of the major part of this transaction reinforces our efforts to focus our full attention on the development of the Dutwa nickel project and we appreciate the efforts of Syrah in its timely completion. The funds realised are significant and will be employed to partially fund the Dutwa bankable feasibility study."

[the stigologist] 10/7/2014 09:12

Syrah now apparently being pursued for a $2bn takeover by Glencore !

Who was in charge here when they gave Balama away ?

[dingo75] 02/7/2014 08:32

What will Kola be using the £44m in retained losses for?
A Nice Profitable Petroleum Company Perhaps ? Or a Telecoms Company ?



Watch that little £3m multiply................

[kiwimonk] 01/7/2014 16:06

3 million of buys today so far. nothing mentioned on the boards. can only mean one thing!
Good things coming.

[nellynell] 30/6/2014 13:11

anyone know what was discussed atvthe agm today buys seem to be coming in?

[fenseal3] 30/6/2014 11:10

Nice buys coming in, is today the next leg up....0.4p on the bid bekons!!!

[nellynell] 26/6/2014 14:15

loads of sells going through today? someone unloading?

[fenseal3] 24/6/2014 11:50

Topped up today....chart looks like a stairway to heaven...8-)!!

[kiwimonk] 20/6/2014 15:09

A 500 k Er should be enough to push it up. That close to going through the 200 ma !!

[fenseal3] 20/6/2014 10:16

As i type 0.39p has gone off the table 8-(...looks like 0.4p for me!!

[fenseal3] 20/6/2014 10:15

Henryford...agree, the reputation of KK is one of making money and making good investments, AFE will be transformed into a great investment, i'm buying more today @ 0.39p..GLA!!

[henryford] 20/6/2014 08:06

Kola Karim, Nigeria, Group Managing Director and Chief Executive Officer of Shoreline Energy International
Karim is the Group Managing Director and Chief Executive Officer of Shoreline Energy International, a Nigerian conglomerate with interests that span oil & gas, power generation, engineering, commodities trading, infrastructure and construction across sub-Saharan Africa. In 2012, Shoreline Energy partnered with U.K-based Heritage Oil in acquiring a stake in OML 30, an oilfield asset in Nigeria for a reported $850 million. An avid polo player, Karim was named Young Global Leader class of 2008 by the World Economic Forum.



Also Chairman of £3m African Eagle!

[henryford] 19/6/2014 20:54

lol Bam Bam new company now mate. try your best and spin. you need a new job. if you have one.
The accounts are Historical.

TWO NEW GUYS at the helm....you must be kinda thick not to understand this.
The reports are historical.
This is a new management, shareholders, and strategy.
Please keep up, you are far too obvious with your childish posts. and only embarrass yourself.

KK and Clarke and the rest of us shareholders will look forward to telling you how much money we make in due course.
in the meantime, we all look forward to your posts. they are great!
Ignore the good bits and highlight the historical bad bits lol
You need help.
Cheers
HF

[nellynell] 19/6/2014 19:23

think someone is clutching at straws here. kola karim is a saviour no ifs no buts hes going to put life back into this company

[bam bam rubble] 19/6/2014 19:20

Strange the way the new Chairman lifted the previous Chairman's statement from
last year and said the same thing with a few words changed around.

On behalf of the current Board, I would like to thank the former Directors for
their hard work and dedication during these difficult times. I would also like
to thank the significant contributions made by the staff in Tanzania and London
without which the Blackdown Resources transaction would not have been possible.
Rob McLearon Sep 2013

On behalf of the current Board, I would like to take the opportunity to express appreciation for the hard work and dedication of the former staff and directors
who worked tirelessly in Tanzania and London during these very difficult times,
without whose efforts it is unlikely the Company would have a realistic future.
Kola Karim, June 2014

It's notable that 'difficult times' have been changed to 'very difficult times'

[henryford] 19/6/2014 13:56

Fenseal, 0.40 isn't going to add too much to the cost of your next 250k!?

[fenseal3] 19/6/2014 12:36

Trying to get more under 0.39p....not happening.

[saloba11] 19/6/2014 11:47

what is the actual selling price, shares account isnt working!!

[henryford] 19/6/2014 09:42

Maybe HL.
I would think any deal will eclipse the past of Nickel et al.
And will have profitable teeth or huge potential. Those tax losses are worth a lot more than the market cap! Add in Profitable Co and you got a very tasty proposition.
Cheers
HF

[hyper al] 19/6/2014 09:14

HenryFord

I agree.

The fact that Mark Parker is pushing AYM via Coburg, I think, is also a positive.

Still don't hold any.. Well not yet.

[henryford] 19/6/2014 08:50

As KiwiM mentions in his post, £43m in tax losses on the balance sheet is helluva attraction for someone like KK with the vast business interests he has, sure he can find something useful and profitable to reverse into here.
He's a very Erudite and clever man. I suggest people try and listen to the odd interview/speech he's given.
Good Luck to all. Is going to be an exciting few Months.

[henryford] 19/6/2014 08:45

Humbugg. Sure is. No need to sniff at a Rollover of that size ;)

[humbugg] 19/6/2014 08:36

henry,
its a rollover

[henryford] 19/6/2014 08:04

Fenseal, you can't deramp a Rich African Businessman's company! That's only going to get to mid cap status before you can say "Pump Up The Oil Koka"

[henryford] 19/6/2014 08:02

2.1m just shown from yesterday.
volume rising, share price rising, Koka Kola about to turn this into a significant company again.
Last Chance to top up before it goes off to the Races!
Talking of Races, he;s in London this week Playing a bit of polo.
Lots going on behind the scenes ;)