News blog
African Eagle Resources
- BY: Andrew Hore |
- POSTED: 22/01/2013 |
African Eagle Resources has upgraded and extended its resource estimate for its Dutwa nickel project in Tanzania.
The resource estimate is greater than 100Mt in the indicated category at a nickel grade of 0.92%. Rail transport is thought to be viable and the company is in talks with the government.
A study suggests that beneficiation prior to downstream processing optimises operating and capital costs. However, overall operating costs will be much higher than originally estimated. Further tests are planned and the bankable feasibility study has been delayed.
Finding a strategic development partner is the main short-term objective.
At 2.88p a share, down 0.5p, African Eagle is valued at £20m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf
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