African Eagle delivers excellent results from Tanzanian project – MoneyWeek

Inaddition,theresultsrevealasignificantlyimprovedleachperformanceofthebeneficiatedores,anoutcomethatwasunexpected。

Thebeneficaitionthroughlowenergyscrubbingandwaterscreeningiswhatoffersthepotentialtosignificantlyreduceboththeoperatingandcapitalcosts,thecompanysaid。

Theresultsshowasignificantupgradeinoreheadgradewithuptoatwotimesnickelgradeimprovementfromaround1%toaround2%。

Thereisalsostrongpotentialtoreducethethroughputcapacityoftheprocessplanttoachievetheequivalentmetaloutputandstrongpotentialforareductioninreagentconsumptionrequiredtosecureoptimummetaloutput。

AfricanEaglehasnowstartedfurthertestworkwhichisexpectedtobecompletedbytheyearend,withpilotteskworkonthealreadydrilledbulksampleduetobegininearly2013。

Inaddition,thecompanyisperforminganin-depthreviewanddetailedanalysisoftransportinfrastructurewithaparticularfocusonrailsystemsinTanzania,andelsewherewithintheEastAfricancommunity。

AfricanEaglesChiefExecutiveOfficer,TrevorMoss,said:Weareveryexcitedaboutthesemetallurgicalresultswhichexceedourexpectationsinallaspects。

TheyconfirmtheunusualandpositivenatureoftheDutwamineralisationanddemonstrateboththenecessityandbenefitsofdoingextensiveanddetailedmetallurgicaltestworkatthisstageofthefeasibilitystudy。

ThepotentialofbeneficiatingtheFeSiorewashighlightedintheNHMreportbuttheseresultsbothexceedourexpectationsandextendthemtohighlightpositiveleachperformancethatwasnotpreviouslyidentified。

Beneficiationpriortoprocessingonacommercialscalewillsignificantlyreducetheamountoforeweneedtoprocessthroughthehydrometallurgicalplantbygreaterthan50%,whilstalmostdoublingthenickelheadgradewiththepotentialforthistoapproach2%forasignificantperiodofthelifeoftheoperation。

Theimprovedleachbehaviourofthebeneficiatedoreresultsinasmallerplant,whichrequireslessacidandreagentswhilemaintainingmetaloutput。

Thishasthepotentialtosignificantlyimprovetheoverallprojecteconomicsbyreducingboththecapitalexpenditureandtheoperatingcosts。

Thesharepricejumped17。

39%to3。

38pby10:08。

NR

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