| Thu 15 Oct 2009, 8:00 | | AEA - African Eagle Announces Appointment of New Chairman |
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AEA
AEA
AEA - African Eagle Announces Appointment of New Chairman
African Eagle Resources Plc
(Incorporated in England and Wales, registered number 3912362)
AIM share code: AFE & AIM ISIN: GB0003394813
JSE share code: AEA & JSE ISIN: GB0003394813
AFRICAN EAGLE ANNOUNCES APPOINTMENT OF NEW CHAIRMAN
African Eagle Resources plc (AIM: AFE; AltX: AEA) today announces the
appointment of Euan Worthington as Non-Executive Chairman with effect from 14
October 2009. John Park, who has served as African Eagle`s Chairman since 1998,
has informed the Company of his intention to retire from this position and from
the Board from this date.
Managing Director Mark Parker said, "The Board acknowledges with great
appreciation John`s many contributions during his eleven year tenure on the
Company`s Board. John has been a very active Chairman who has dedicated
substantial time and effort to the Company. We will miss him and wish him the
best in his future endeavours.
"We are very pleased to announce that John`s successor will be Euan Worthington,
who has been the Deputy Chairman of African Eagle since October 2006 and a board
member since 2003. Euan is well known in the City of London, having worked in
mining corporate finance and research at Hoare Govett, Shearson Lehman,
SGWarburg and ABN Amro. He has extensive experience of mining finance and
participated, as Team Leader or Mining Adviser, in numerous deals, including
advising Sutton Resources in Tanzania and Falconbridge Gold in Zimbabwe. Euan
remains Chairman of DiamondCorp and a Non-Executive Director of European Nickel.
He will bring valuable knowledge and aptitude as the development of Dutwa
continues. "
For further information:
Mark Parker
Managing Director
African Eagle
+44 20 7248 6059
+44 77 5640 6899
Nicola Marrin
Seymour Pierce Limited,
London
Nominated Adviser
+ 44 20 7107 8000
Charmane Russell
Russell & Associates,
Johannesburg
+ 27 11 8803924
+27 82 8928052
Ed Portman / Leesa Peters
Conduit PR, London
+44 20 7429 6607
+44 (0) 7733 363 501
About African Eagle
African Eagle is a mineral exploration and development company operating in
eastern and central Africa. The Company`s principal advanced project is the
Dutwa nickel laterite discovery in Tanzania, where the Company announced results
of a positive scoping study in July 2009, which indicated that Dutwa, if it were
in production today, would be profitable. African Eagle is also a partner in the
Mkushi Copper Mines project in Zambia, for which a draft Feasibility Study was
completed in Q4 2008.
African Eagle has also defined a gold resource estimated at half a million
ounces at the Miyabi gold project in Tanzania, and is evaluating a second
promising nickel laterite deposit which it recently discovered in Tanzania. The
Company holds a well-balanced portfolio of promising earlier stage gold and base
metal projects, including the Ndola and Mokambo projects in the Zambian
Copperbelt.
Zambia, Tanzania and Mozambique, the sites of African Eagle`s projects, are all
countries which have highly prospective geology, relatively low above-ground
risks and track records of successful major investments in the metals and
minerals industries.
African Eagle specialises in project generation and exploration. To take its
discoveries into production, it seeks to sign up industry partners with records
of successful mine development. These joint ventures and, in time, the revenue
from advanced projects, will finance future exploration and new discoveries.
14 October 2009
Sponsor
Nedbank Capital
Date: 15/10/2009 08:00:01 Produced by the JSE SENS Department.
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