24 October 2016

African Eagle shows wings

07/03/12 Ben Jaglom

Tanzania-focused African Eagle Resources (AFE ) has provided an update on its Dutwa nickel project.

The AIM-quoted concern declared the results from its Tanzanian project that showed that some of the best intercepts included 63 metres at 1.49 per cent of nickel and 66 metres at 2.09 per cent of nickel. For cobalt the strongest results included 0.27 per cent of cobalt at 9 metres including 6 metres at 0.5 per cent of cobalt.

Director of corporate development Mark Parker remarked that the results should helpd the company 'to upgrade the bulk of the Ngasamo deposit into JORC indicated category' and to 'extend the resource beyond previous drilling'.

Currently trading at 6.13p the shares were last recommended by Growth Company Investor with a 'reduce' rating at 15.75p last January. At the current price the shares look fairly valued with the company making slow but steady progress in Tanzania. Hold.

Tags: Business in Africa, Drilling in East Africa, Hunting for minerals

Cash Shells 2015

Published in September 2015 this annual research report provides a comprehensive overview of cash shells on the Main Market, AIM and PLUS landscape. Order your copy today


Superb investment toolkit for private investors

SharePad is the new web-based service from ShareScope. Easier to use and more powerful. Perfect for tablets, Macs and Windows PC. Covers ALL your investment requirements.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2015

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1000+ AIM-quoted companies. The full report is available to order for £385 + VAT. Click here for more info


Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

US cyber attack highlights opportunity for Corero 24/10/16

Last week there was news of another internet security breach in the US. Corero Network Security has a new-generation product called SmartWall which targets this problem. It monitors incoming internet traffic in real time, identifying and diverting suspicious activity. 

STM completes smart deal 21/10/16

Specialist pensions administrator STM has completed the acquisition of London and Colonial which was announced at the time of last month’s interims. The deal is attractively priced, being earnings enhancing and offering scope to release regulatory capital.

Elecosoft acquires an ICON  17/10/16

Elecosoft has acquired software developer ICON for £2.4 million. This should fit well with Elecosoft’s German Esign unit which also supplies 3D visualisation software

Genedrive launches first test in India 12/10/16

Genedrive has undergone some significant changes over the last year. There’s a new management team in place and £6 million of fresh equity was raised over the summer to fund the commercialisation push.

Miton remains upbeat about small caps 11/10/16

The latest news in the UK fund management industry is the transatlantic merger of Henderson and Janus. So where does this leave managers at the other end of the scale like Miton? 

Sales still elusive at Fox Marble  07/10/16

It’s fair to say Fox Marble is one of the most intriguing yet frustrating shares on the market. It holds out the prospect of big dividends once the cash starts flowing from its marble quarries in Kosovo; but so far sales have been painfully slow to build.

More News