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African Eagle Resources PLC

Published : September 15th, 2011

(UK) - Appointment of new CEO

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Appointment of new CEO

 

African Eagle Resources plc

APPOINTMENT OF A NEW CEO

 

African Eagle Resources plc ("African Eagle" or "the Company"; AIM: AFE; AltX: AEA) is pleased to announce that it has appointed Trevor A. Moss as a Director and CEO designate. Trevor will join the Board of Directors immediately and will become full-time CEO of the company on 1 December, when Mark Parker will switch from Managing Director to Director for Business Development.

Trevor Moss is a seasoned mining executive with over 30 years experience in the international minerals industry. Most recently, he was responsible for the construction, completion and successful start up of the Bisha mine in Eritrea, as Chief Operating Officer and Executive Vice President of the Canadian company Nevsun Resources Limited. He holds an MSc in Civil Engineering from Arizona State University and an Honours degree in Civil Engineering from the University of Bradford in the UK, and is a registered engineer in the US State of Arizona.

Mr. Moss will be responsible for completing the bankable feasibility study, mine construction and commissioning of the proposed nickel/cobalt mine at Dutwa. The appointment is a landmark in African Eagle's development of the Dutwa nickel project in Tanzania and a major milestone in the Company's transition from explorer to nickel producer.

African Eagle's Managing Director Mark Parker commented
"This is a key appointment for African Eagle and Trevor's impressive background in project development and mine construction is exactly what we need to advance the Dutwa project. I am thrilled to be handing over to such an experienced and capable successor."

The Company's Chairman, Euan Worthington added
"I am very pleased that we have been able to entice an executive of Trevor`s calibre to join us to drive African Eagle forward, after an extensive international search in a very competitive market. I can also report that we are making good progress in our search for a full time Finance Director to work with Trevor and the Board. I'm pleased that Mark Parker will remain on the Board to ensure a smooth handover to Trevor and to guide the evaluation of Zanzui and other promising nickel projects in East Africa."

Trevor Moss further commented
"I am delighted to be joining African Eagle at this important time for the Company and am excited about the opportunity to advance the Dutwa nickel project. I have enjoyed the privilege of developing several world class projects and will be pleased to be able to add Dutwa to that list."

 

Trevor A Moss Biography

Trevor Antony Moss, aged 54, has more than 30 years experience in the international minerals industry. From 2008 until recently, Moss served as Chief Operating Officer and Executive Vice President of TSX-listed Nevsun Resources Limited, where he was responsible for the construction, completion and successful start up of the Bisha mine in Eritrea, a pioneering effort resulting in the development of the country's first modern mining facility.

Trevor Moss is a corporate and project management executive with significant experience over the breadth of the international minerals industry, including roles with senior mining corporations such as Barrick, Newmont and Cyprus Amax, and with emerging producers including Nevsun Resources, Tiberon Minerals and Gabriel Resources. In addition Trevor has extensive experience within the mining industry services sector, having held senior positions in consulting and contracting companies such as Aker Kvaerner and the Trafalgar House Group.

Trevor has held the positions of CEO and director in a number of private companies and has held corporate officer positions and directorships in several public companies. Currently he sits on the board of FGBI LLC, a private US resource company, and is director and president of HAWM Consulting Inc. Until July 2008, he was a director of TSX-V listed Fury Explorations Ltd and the private company Cuthill Copper Corporation.

Save as set out above, there are no details in relation to the appointment which need to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

 

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
Mark Parker (Managing Director)
Euan Worthington (Chairman)
Sandra Spencer (PR Consultant)
+44 20 7248 6059
+44 77 5640 6899
+44 75 1535 7790

Canaccord Genuity Limited
Andrew Chubb
Bhavesh Patel
+44 20 7050 6500

Ocean Equities Limited
Guy Wilkes
+44 20 7786 4370

Russell & Associates, Johannesburg
Charmane Russell
Marion Brower
+27 11 8803924
+27 82 8928052

 

About Dutwa

Dutwa is a unique nickel project with a JORC resource of 99 million tonnes at 0.93% Ni, readily mined from two hilltop deposits and amenable to simple, low consumption atmosphericacidleaching, leading to world class economics. The updated independent financial modelling prepared for the feasibility study by Simulus in March 2011 indicated a net present value for a 3Mtpa project of $870M at today's nickel price of $10/lb, with cash operating costs of approximately $3.40/lb and a projected capital payback of between three and five years.

The African Eagle board's intention is to deliver a definitive feasibility study ("DFS") on Dutwa by the end of Q4 2012. Mineral processing and metallurgical testwork, key components of the DFS, are currently underway on carefully chosen bulk samples of each of the ore types. The new testwork will build on the results of past tests which demonstrated that the Dutwa ore can be treated by simple atmospheric leaching at low acid consumption, with no requirement to employ costly and challenging HPAL (high pressure acid leaching) technology. The new tests will help to optimise the process flow-sheet and investigate various ways to optimisecosts andthe favourable economics already demonstrated by the scoping studies.

Several elements of the DFS are already underway in parallel with the pre-feasibility work, including drilling a second bulk ore sample for pilot-plant testwork and the environmental and social impact assessment.

 

Data and Statistics for these countries : Cyprus | Eritrea | Tanzania | All
Gold and Silver Prices for these countries : Cyprus | Eritrea | Tanzania | All

African Eagle Resources PLC

DEVELOPMENT STAGE
CODE : AFE.L
ISIN : GB0003394813
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African Eagle is a nickel and gold development stage company based in United kingdom.

African Eagle develops nickel, gold and copper in Tanzania and in Zambia.

Its main assets in development are FAIDA - MIYABI PROJECT and KILIMANI - MIYABI PROJECT in Tanzania and MKUSHI PROJECT in Zambia and its main exploration properties are MAJELE, SENA and KING SOLOMON in Mozambique, NDOLA, SASARE EAGLE EYE, MOKAMBO, LUNGA and MKUSHI in Zambia and ZANZUI, IGURUBI, DUTWA and MIYABI in Tanzania.

African Eagle is listed in Germany and in United Kingdom. Its market capitalisation is GBX 243.9 millions as of today (US$ 409.4 millions, € 306.2 millions).

Its stock quote reached its highest recent level on July 08, 2011 at GBX 9.98, and its lowest recent point on July 05, 2013 at GBX 0.10.

African Eagle has 871 160 000 shares outstanding.

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Nominations of African Eagle Resources PLC
9/15/2011(UK) - Appointment of new CEO
5/5/2011(UK) - Appointment of Non-executive Director
3/9/2010(Dutwa)Appoints project manager at Dutwa
10/15/2009Appointment of New Chairman
Project news of African Eagle Resources PLC
9/20/2011(Miyabi)(UK) - Miyabi drilling update
3/14/2011(Dutwa) Dutwa economic model update
3/1/2011(Dutwa)- Dutwa whittle optimisation report.
6/10/2010(Dutwa) Dutwa Nickel Project - Drilling Results
4/7/2010(Igurubi)Vends interest in Igurubi gold project to Peak Resources
3/17/2010(Dutwa)Drilling results from Ngasamo Hill
1/21/2010(Dutwa)Continues to Yield Positive Results
11/30/2009(Dutwa)Further Drilling Results
12/1/2009(Dutwa)Update on Metallurgical Tests
2/22/2010(Dutwa)Drill Results from Ngasamo Hill
10/20/2009(Dutwa)Dutwa Progress Summary
8/3/2009(Zanzui)Zanzui Nickel Leach Tests
7/29/2009(Dutwa)Dutwa Nickel Project Scoping Study
2/14/2009(Dutwa)Nickel Leach testwork results.
11/26/2008(Zanzui)Zanzui Nickel Project First Drill results
12/2/2008(Mokambo)Mokambo Copper Project
11/27/2008(Dutwa)Dutwa (7) The Resource statement
11/11/2008(Dutwa)DRILL RESULTS RECEIVED
8/26/2008(Dutwa)Dutwa Nickel Discovery
7/31/2008(Miyabi)Miyabi Project update
Corporate news of African Eagle Resources PLC
9/26/2011(UK) - Investor Presentation, Press & Research Links & Updat...
8/4/2011(Dutwa)(UK) - Dutwa mineralogical results
6/27/2011(UK) - 'Riches beyond gold' - The Sunday Telegraph
6/21/2011(UK) - Mid-year progress report
4/21/2011(UK) - Preliminary results
5/20/2010Communication with Shareholders & Notice of AGM
4/30/2010PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2009
9/25/2009Interim Report & Accounts
8/7/2009Open Offer Financing Oversubscribed
7/21/2009Open Offer to Shareholders
5/14/2009Igurubi Gold Resource and Dutwa Nickel Project Report
1/9/2009Strategic plan
9/25/2008Interim results
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