Homeserve 08/02/2012
Home maintenance and emergency repairs concern Homeserve has warned that its reduction in customer numbers is 3% higher than expected.
African Eagle Resources
ADDAfrican Eagle Resources has established a hefty increase in formally estimated inferred resources at its Dutwa nickel project in Tanzania to from 350,000 tonnes to 806,000 tonnes at a grade of 0.88%.
With 30,000 tonnes of cobalt included, this rises to 845,000 tonnes of nickel equivalent at a grade of 0.92%. This overall increase in Dutwa’s estimated inferred resources arises from work on two deposits within the project, Ngasamo and Wamangola. The company says independent consultant Snowden is aiming to upgrade the resource estimate from the tentative ‘inferred’ category to the more confident ‘indicated’ definition.
Managing director Mark Parker hails the resource increase as a ‘significant step forward in our feasibility work at Dutwa’. Highlighted by Growth Company Investor earlier this month at a depressed 4.13p, the shares now trade at 5.13p and should rally further if Dutwa’s drilling results continue to please.
Market cap: £15.2m
PE Forecast: n/a
Share price: 5.13p
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