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African Eagle (LON:AFE) (AFE 11.8p/£48.1m)

African Eagle Resources, a mineral exploration and development company, has announced that it has executed a farm-in agreement with BrightStar Resources Ltd (BUT) over the Company’s Miyabi Gold Project in Tanzania, under the terms of which BUT will expend $3m in 30 months to earn 50 per cent. A minimum expenditure of $1m is required of BrightStar within the first 12 months. BrightStar can actually earn 75 per cent by sole funding and completing a feasibility study.

Angel Biotech (LON:ABH) (ABH 0.36p / £9.77m)*

AIM listed Angel last week commented on the announcement in the press regarding an ongoing European legal case concerning the patentability of human embryonic stem cells. A legal opinion has been given by the advocate-general of the European Court of Justice (ECJ) that patent claims involving human embryonic stem cells should not be allowed. The ECJ is due to decide over the coming months whether to uphold this legal opinion in their ruling on the case. Angel wishes to state that the majority of work currently ongoing at Angel, and the work that the Company is seeking to secure in the future, is based on the use of adult stem cells. Also many of the programs are autologous in nature where the patients' own cells are used for the clinical procedure. Neither of these technologies is affected by the EU opinion. Dr Paul Harper, Chairman of Angel, said: "We believe that the significant market opportunity for the cell therapy services we offer will be derived in North America and this will not be affected by this ruling." Angel recently secured a fifteen year lease, with an option to break after five years, on a GMP manufacturing facility in Cramlington, near Newcastle upon Tyne. The facility, which the Company knows well, will increase Angel's manufacturing capacity approximately five-fold when re-commissioned and will be unaffected by the issues discussed in the ongoing debate surrounding human embryonic stem cells in Europe. The Board expects the facility to be operational before the end of 2011. The market looks forward to further comment on how Angel progresses as it adds the extra capacity it needs.

Anglesey Mining (LON:AYM)…

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