This week: Eagle set to take off, keep watch on Omega, an insight into Medicsight and positive signals for Sarantel
African Eagle Resources (LON:AFE) (AFE 6.62p/£25.49m)
In last week’s Small Cap Wrap we wrote about AFE selling its non-core uranium division to focus on its Dutwa nickel deposit in Tanzania. On Thursday of last week AFE announced that internal deposit modeling at its Zanzui project has demonstrated the potential for a significant nickel oxide deposit, based on the initial drilling completed to date. The deposit modeling shows a JORC Exploration Target of at least 20 million tonnes at 0.9 to 1 per cent equivalent nickel. In addition, the interpretation of VTEM geophysical data (from the project) has identified a number of conductive targets which further enhance the prospectivity of the deposit. VTEM and geochemical data indicate good potential to increase the tonnage. Eight targets have been identified from VTEM interpretation with possible nickel sulphide and platinum targets as well as oxide nickel targets. It’s early days but the decision to focus just on Dutwa appears to be a sensible one.
Amerisur Resources Plc (LON:AMER) (AMER 14p/£127.93m)
Amerisur, an oil and gas producer and explorer focused on South America, said last Wednesday (24th) that at its operations in the Platanillo contract in Colombia, daily oil production has averaged 573 barrels of oil per days over the last 15 days. Despite adverse weather, production operations have continued without interruptions over the last few months. However the 3D3C seismic programme has experienced a slight delay as the area has been affected by flooding which has made access more difficult in both the central and southern areas. It is anticipated that data recording in the southern section will be completed during December, with well locations identified in time for drilling during Q1 2011, provided ground conditions allow the requisite civil works to go ahead.
Angel Mining (LON:ANGM) (ANGM 5.75p / £25.20m)
AIM listed Greenland-focused mining and exploration Company today reported the unaudited interim figures for the six months ended 31 August 2010. The Company recorded a loss of $2.62m for the period compared to a profit of $828k for the same period last year. At 31 August 2010, the Company's…
