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AEA
AEA
AEA - African Eagle Resources plc - Board Changes
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)
("African Eagle" or the "Company")
BOARD CHANGES
African Eagle Resources plc (AIM: AFE; AltX: AEA) announces changes to its Board
of Directors following the General Meeting on 24th April 2012.
Euan Worthington (formerly Chairman), Mark Parker (founder of the Company and
formerly Managing Director), and Chris Davies resigned from the Board with
effect from the General Meeting. Geoffrey Cooper resigned in early April. The
African Eagle Resources Board now comprises Chris Pointon (Interim Chairman),
Don Newport and Julian McIntyre (non-Executive Directors), Trevor Moss (Chief
Executive Officer) and Andrew Robertson (Finance Director)
These changes mark another step in the Company`s transition to a nickel mining
company from a diversified junior explorer.
African Eagle`s CEO Trevor Moss paid tribute to the outgoing Directors. "The
process of change which was started by Mark Parker in late 2010 has now reached
the point where the Company is fully focused on the feasibility study and
development of the Dutwa Nickel Project. On behalf of the Company, I thank the
outgoing directors, who founded African Eagle and identified Dutwa`s promise."
Mark Parker will remain with African Eagle in a part-time role for the purposes
of continuity and to supervise the spin-out of the remaining non-nickel
exploration assets. He will continue to pursue his mineral exploration interests
as a director of Equator Gold Limited and Andiamo Exploration Limited.
Chris Davies is expected to remain involved with the spin out of African Eagle`s
Zambian copper assets.
About Dutwa
Dutwa was discovered in 2008 and has a JORC resource of 99 million tonnes at
0.93% Ni. The project is a nickel laterite project with unusually beneficial
geometallurgical properties, which makes it amenable to straightforward
atmospheric acid leaching with comparatively low acid consumption. This
combined with ready mining from two hilltop deposits leads to strong project
economics. A Bankable Feasibility Study is currently underway and due around
the end of 2012.
About African Eagle
African Eagle Resources plc is a junior mining explorer and developer with
development projects in Tanzania and Zambia. The Company`s flagship project is
the Dutwa Nickel project in Tanzania located about 25km south of Lake Victoria
and 110km east of Mwanza within greenstone gold belts which host many of
Tanzania`s operating and developing gold mines. The Company is quoted on the
AIM market of the London Stock Exchange (AIM: AFE) and on the AltX of the
Johannesburg Stock Exchange (AltX: AEA).
For further information:
Please visit the Company`s website: www.africaneagle.co.uk or contact:
African Eagle Resources plc
Trevor A. Moss (CEO)
Yasumi Toyoda
+44 20 7248 6059
Canaccord Genuity Limited
Rob Collins
Andrew Chubb
+ 44 207 523 8000
Ocean Equities Limited
Guy Wilkes
+44 20 7786 4370
Russell & Associates, Johannesburg
Charmane Russell
Marion Brower
+27 11 8803924
Sponsor
Merchantec Capital
Date: 26/04/2012 17:50:01 Produced by the JSE SENS Department.
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