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African Eagle Resources
- BY: Andrew Hore |
- POSTED: 22/01/2010 |
- COMMENTS: Add yours
African Eagle Resources has received the transport and nickel report on the Dutwa nickel project in Tanzania, which suggest that infrastructure improvements will help to reduce transport costs.
Transport costs were identified as a major cost of the project and reducing them will improve its viability. African Eagle will review its transport options.
The nickel price has almost doubled to $8.50 a pound in the past year.
African Eagle will complete resource drilling at neighbouring deposit Ngasamo and perform deposit modelling on Dutwa and Ngasamo. It will then publish measured and indicated resources for the deposits.
African Eagle is trying to sell its non-core Zambian copper and Tanzanian gold assets.
At 4.5p a share, up 0.375p on the day, which values the mining company at £13.4m.
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