Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

African Eagle (AFE)

  Print      Mail a friend       Annual reports

Thursday 03 May, 2007

African Eagle

Joint Venture with Randgold

African Eagle Resources PLC
03 May 2007

                              PROJECT IN TANZANIA

   •Option and farm-in agreement signed between African Eagle and Randgold
   •Randgold will fund, perform and accomplish a pre-feasibility study to
    earn a 50% interest in the Miyabi project
   •African Eagle can then retain a 49% stake in the Project by co-funding a
    full feasibility study, or dilute to 35%
   •Randgold to arrange development finance on a production decision

African Eagle Resources plc ('African Eagle' or 'the Company', ticker AIM: AFE)
today announces that it has entered into a Joint Venture with a wholly-owned
subsidiary of Randgold Resources ('Randgold') on its +500,000 ounce Miyabi Gold
Project in the Lake Victoria Goldfield of Tanzania.

The Joint Venture has the form of an option and farm-in agreement. Under the
initial option, Randgold will carry out and fund an agreed phase-1 exploration
programme by end of May 2008. This programme will consist principally of a
series of diamond drill hole fence lines to investigate the geology, structure
and controls on mineralisation across the width of the Miyabi corridor. Randgold
will then have the right to earn a 50% interest in the project by conducting and
funding a pre-feasibility study to agreed parameters. Following the
pre-feasibility study, African Eagle can retain a 49% stake in the Project by
co-funding a full feasibility study, or dilute to a 35% stake if Randgold
provides the funding in full. Randgold, as Project Manager will also arrange the
financing for the development of a mine.

Randgold Resources is an Africa-focussed international gold mining and
exploration business with listings on the London and New York Nasdaq exchanges.
Randgold has a strong track-record of exploration and development success
including the 7.5 million ounce Morila deposit in southern Mali, the six-plus
million ounce Yalea deposit at Loulo in western Mali and the three million ounce
Tongon deposit in Cote d'Ivoire. Randgold successfully financed and developed
the Morila mine, which has produced more than four million ounces of gold since
it was brought into production in October 2000. It also financed and developed
the Loulo Mine which was officially opened in November 2005 and is scheduled to
produce 250,000 ounces per year for six years, from an open pit operation.
Development of the Loulo underground operation has commenced and will
significantly enhance the value and extend the life of mine. Randgold recently
completed a pre-feasibility study on the Tongon deposit and holds a portfolio of
exploration projects in Mali, Cote d'Ivoire, Senegal, Burkina Faso, Ghana and

African Eagle's Managing Director Mark Parker commented 'We are delighted to
have signed one of Africa's most exciting and successful gold companies, as our
partner at Miyabi. Randgold has a strong mining and geological team and African
Eagle will benefit enormously from this additional expertise in evaluating the
Miyabi project and taking it through to production. We look forward to making
swift progress with Randgold on the Miyabi project'.

John Park

For further information, see the Company's web site or
contact one of the following:

Mark Parker
Managing Director
+44 20 7248 6059
+44 77 5640 6899

Ed Portman/ Leesa Peters
Conduit PR
+44 20 7429 6607 / +44 (0) 7733 635 01

Qualified Person
Information in this report relating to exploration results is based on data
reviewed by Mr Christopher Davies BSc, MSc, DIC, Operations Director for African
Eagle, who is a Fellow of the Australasian Institute of Mining and Metallurgy,
has more than 25 years relevant experience in mineral exploration and is a
Qualified Person under AIM rules. Mr Davies consents to the inclusion of the
information in the form and context in which it appears.
Technical terms
A glossary of technical terms used by African Eagle in this announcement and
other published material may be found at
About Miyabi

The Miyabi Gold Project lies in the southwest part of the Lake Victoria
Goldfield of Tanzania, about 50km west-southwest of Kahama township in Shinyanga
District. The gold system at Miyabi, discovered by African Eagle's geochemical
prospecting team, forms a corridor of about 7km x 2km associated with a major
shear zone cutting greenstone and granite rocks, within which occur a number of
gold mineralised zones. To date, African Eagle's drilling has delineated five
principal orebodies: Faida, Shambani Main and North, Ngaya and Kilimani.

In early 2006, the Company commissioned SRK Consulting Ltd to conduct a formal
resource estimate based on all drill results to date. The total JORC compliant
Mineral Resource was estimated to be 12.4Mt at a grade of 1.3g/t, containing
520,000 ounces of gold, using a cut-off grade of 0.5g/t, which is appropriate to
Tanzanian deposits of the Miyabi type. Of this, 71% is in the Indicated

Independent metallurgical testing of systematically selected gold-bearing drill
samples representative of all of the principal mineralised zones at Miyabi
showed that standard leaching recovers 95% of the gold from the ore.

The potential for adding to the gold resource at Miyabi is very good, with many
targets identified from geophysical and geochemical surveys within the main
mineralised corridor remaining to be drilled, and African Eagle believes that
the project could hold at least one million ounces.

The Company's prospecting licences also cover more than 500 square kilometres of
highly prospective granite-greenstone terrain around the main mineralised
corridor and regional exploration of these areas has identified several
promising targets. The Idahina East prospect, for example, yielded a geochemical
soil gold anomaly in excess of 0.5 g/t which has yet to be drill tested.

About African Eagle

African Eagle is a mineral exploration and development company operating in
eastern and central Africa. The Company's principal advanced projects are the
Mkushi Copper Mines project in Zambia and the Miyabi gold project in Tanzania,
which are being prioritised towards production. The Company also holds a large
well-balanced portfolio of promising earlier stage gold and base metal projects,
including the Ndola copper project and the Eagle Eye iron-oxide copper gold

African Eagle's projects are in Zambia, Tanzania and Mozambique, countries which
all 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.

The Company has a highly motivated team, proven management and an experienced
board. African Eagle prides itself on being a low cost operator and on average
80p or more of every £1 is spent 'in the ground'.

                      This information is provided by RNS
            The company news service from the London Stock Exchange