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African Eagle Resources
- BY: Andrew Hore |
- POSTED: 09/01/2009 |
- COMMENTS: Add yours
African Eagle Resources intends to concentrate on the Dutwa Nickel Project in Tanzania in order to preserve its cash.
The current cash figure is £2.5m. The scoping study for Dutwa will be done in the first half of 2009. The economic viability of the project will then be assessed.
African Eagle will continue to explore for other nickel laterites in Tanzania and prioritise other projects. It is also seeking partners to help finance other projects.
The company will defer a development decision for the Mkushi copper mine in Zambia.
The share price dipped 0.125p to 2p, although it fell to 1.75p at one point. That values African Eagle at £4.25m.
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