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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
African Eagle | LSE:AFE | London | Ordinary Share | GB0003394813 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.275 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0131S African Eagle Resources PLC 13 November 2003 African Eagle Resources plc Letter to Shareholders and Notice of EGM African Eagle has posted a letter to shareholders as part of its policy of maintaining good investor relations and in order to convene an extraordinary general meeting to make a change required by its articles of association. Set out below is an extract from that letter, a full version of which, including the notice of EGM, will be available on www.africaneagle.co.uk. "Progress Since the successful listing in June of African Eagle's shares on AIM our exploration teams have continued to make progress, especially at our priority Eagle Eye copper / precious metals prospect in Zambia and Miyabi gold prospect in Tanzania. The results to date have been promising. At Eagle Eye, geological and other surveys have shown that the mineralisation is far more extensive and potentially richer than we had previously anticipated. The copper mineralised zone extends over at least 8km and appears to contain many higher grade lenses. Gold, silver and other metals occur with the copper in places, and evidence continues to mount that this is an iron-oxide-copper-gold deposit. We will soon begin a drill programme to test the targets revealed by these results. At Miyabi, one of the most promising undeveloped prospects in the Lake Victoria Goldfield, African Eagle's programme of diamond and RC drilling in July yielded very good gold intersections. The Company has since completed its programme of geophysical and geochemical surveys, including deep geochemical sampling using RAB drilling. The results of all these surveys were used to plan a major drilling programme which is now underway and expected to be completed early in December. The third part of our asset base and, we hope, the source of future major projects is the extensive portfolio of exploration licences we currently hold or are evaluating. These include the mineralised zones we have identified in Mozambique, where we will initiate exploration programmes shortly on the nickeliferous gossans at Muazua; Kakumbi in Tanzania which is adjacent to Resolute/Spinifex's Nyakafura gold project, and a number of other significant licence areas in all 3 countries in which we operate. On the corporate front, we welcomed Geoffrey Cooper onto our Board as a non-executive director. Geoffrey is a commercial and contracts lawyer with 36 years experience, predominantly in international mining and the North Sea oil and gas industry. He is currently a legal adviser to Vodafone, one of the UK's largest companies. For twelve years, Geoffrey was in-house legal adviser to BP Minerals, and played a significant role in many commercial and financial transactions. EGM Now that African Eagle is an AIM-listed company with a market capitalisation of more than #10 million, your Board needs to ensure that it can retain the skills it has and recruit any new skills it may come to need. Our Articles of Association currently limit any director's remuneration to a maximum of #50,000 per annum. We are now seeking shareholders' consent though an Ordinary Resolution to increase this maximum to #100,000 per annum and I enclose Notice of an Extraordinary General Meeting to effect this change." The EGM will be held at the Chamberlain Hotel, 130-135 Minories, London EC3 on 5 December 2003 at 2.30 p.m. 13 November 2003 For further information Tel Fax John Park (Chairman) African Eagle 00 61 7 5528 6750 00 61 7 5528 6750 Mark Parker (MD) African Eagle 01590 679 420 020 7691 7745 Leesa Peters Conduit PR 078 1215 9885 020 7936 9100 John Robertson Nabarro Wells 020 7710 7400 020 7710 7401 This information is provided by RNS The company news service from the London Stock Exchange END MSCUUSRROSRAAUA
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