| Mon 9 Jan 2012, 9:00 | | AEA - African Eagle Resources plc - Appointment of Aidan Schoonbee as Dutwa |
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AEA
AEA
AEA - African Eagle Resources plc - Appointment of Aidan Schoonbee as Dutwa
Project Manager
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: GB0003394813)
(JSE share code: AEA JSE ISIN: GB0003394813)
APPOINTMENT OF AIDAN SCHOONBEE AS DUTWA PROJECT MANAGER
African Eagle Resources plc (AIM: AFE; AltX: AEA) is pleased to announce that it
has appointed Mr. Aidan Schoonbee as Project Manager for the development of its
flagship Dutwa Nickel project in Tanzania. Aidan will initially be responsible
for the timely completion of the Dutwa bankable feasibility study ("BFS") and
the associated environmental and social impact assessment ("ESIA"), both of
which are due for completion around the end of 2012, thereafter he will develop
Dutwa through construction and into operation. Aidan is a proven project
manager with experience in successful green fields project delivery during more
than 20 years experience in the mining industry in Africa.
Aidan Schoonbee is a qualified extractive metallurgist with most of his early
career engaged in plant operations. Aidan advanced his career through the
challenges of project commissioning and operations management roles into full
time project management. Aidan most recently acted as Senior Project Manager
for Debswana Diamond Company on their Morupule Colliery Expansion in Botswana,
managing the project from feasibility study through to operation. With a strong
focus on cost and schedule control, along with a technical attention to detail,
Aidan completed the Morupule feasibility study, which then enabled his company
to successfully secure debt financing. Aidan then delivered the completed
project on plan and within budget. Previously Aidan held management roles
within Debswana`s Diamond Division for Wexford Goldfields Ltd., Golden Star
Resources and De Beers Centenary.
Prior to commencing his full-time role on 1 February 2012, Aidan will be
instrumental in the final selection of the engineering company which will be
mandated by African Eagle to complete the Dutwa BFS. Aidan will then lead the
African Eagle project development team and manage the engineers, consultants and
contractors responsible for the BFS and ESIA documents.
Trevor A. Moss CEO of African Eagle commented: "I am delighted that someone of
the quality of Aidan Schoonbee has elected to join African Eagle at a time of
fierce competition for high quality management in the minerals market. This is
a testament to the strength of Dutwa when compared to other development
projects. Aidan`s extensive experience in high quality project delivery in
Africa is an essential skill that will be of fundamental benefit to the
definition and development of Dutwa".
About Dutwa
Dutwa is a unique nickel project with a JORC resource of 99 million tonnes at
0.93% Ni, offering ready mining from two hilltop deposits and straightforward
low consumption atmospheric acid leaching, leading to strong economics. The most
recent financial modelling, prepared in early 2011, projected cash operating
costs of approximately $3.50/lb., a post tax NPV of $995M at $9/lb. nickel and a
projected capital payback period between three and five years. The current BFS
and ESIA development is directed toward defining the full environmental, social,
technical and economic performance of Dutwa.
Sponsor
Merchantec Capital
9 January 2012
For further information:
Please see the Company`s web site at www.africaneagle.co.uk or contact one of
the following:
African Eagle Resources plc
Trevor A. Moss (CEO)
Yasumi Toyoda (Investor Relations)
Euan Worthington (Chairman)
+44 20 7248 6059
+44 77 5640 6899
+44 75 1535 7790
Canaccord Genuity Limited
Rob Collins
Andrew Chubb
+ 44 207 050 6500
Ocean Equities Limited
Guy Wilkes
+44 20 7786 4370
Russell & Associates, Johannesburg
Charmane Russell
Marion Brower
+27 11 8803924
+27 82 8928052
Date: 09/01/2012 09:00:23 Produced by the JSE SENS Department.
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