Proactiveinvestors Australia African Energy Resources https://www.proactiveinvestors.com.au Proactiveinvestors Australia African Energy Resources RSS feed en Mon, 24 Jun 2019 23:31:01 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - African Energy Resources Ltd powers ahead with Sese power project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/148134/african-energy-resources-ltd-powers-ahead-with-sese-power-project-in-botswana-70046.html Power project developer African Energy Resources Ltd (ASX:AFR) has received a commitment from its Sese JV partner First Quantum Minerals Ltd (TSE:FM) to spend $3 million on work programs to advance the Sese integrated power project in Botswana.

The Sese project is under the management of First Quantum and funded by that company. It will invest up to $20 million in the Sese JV.

Many African nations are chronically short of reliable base-load power, particularly South African and Zambia. South Africa is thought to be seeking 2,500MW of new coal-fired base load power.

A project like Sese over the border in Botswana provides a window for AFR to supply new generation capacity from a developed project.

AFR has three power projects under development in Botswana and its partners are funding all of these, removing any capital investment burden on AFR.

AFR’s 25% interest loan is carried to commercial operation of the Sese power station.

The new funding will be used to investigate the development of a fully integrated coal mine and mine-mouth power station.

Additional large diameter drilling will be carried out to collect about 1,000 kilograms of coal for combustion testing and physical handling test work.

This will lead to the development of the fuel specification for the proposed power station, and finalization of the coal handling and processing flowsheet.

The environmental approvals are being updated to allow up to 450 megawatt of power generation and the associated coal mining and processing.

The company will also prepare the preliminary power station design and begin negotiations for power off-take agreements with interested parties.

AFR's other power projects are Mmamabula West and Mmamantswe in Botswana.

African Energy Resources had a handy $6 million cash position in April 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 27 Jul 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148134/african-energy-resources-ltd-powers-ahead-with-sese-power-project-in-botswana-70046.html
<![CDATA[News - African Energy Resources edges closer to development of Botswana power project ]]> https://www.proactiveinvestors.com.au/companies/news/148132/african-energy-resources-edges-closer-to-development-of-botswana-power-project-67342.html Cashed up African Energy Resources (ASX:AFR) has signed a term sheet with an as yet unnamed South African investment group to develop an integrated coal mine and thermal power station at its Mmamabula West power project in Botswana.

The group has a three month exclusive period to negotiate the terms of binding documentation for a joint development agreement for mine‐mouth power generation.

Mmamabula West provides an opportunity for near term power generation with its 2.47 billion tonnes of resources in two main coal seams.

Meanwhile First Quantum Minerals increased their interest in the Sese Integrated Power Project in Botswana to 53%, having spent A$1.3 million beyond the initial A$8 million investment on the Sese Project to date.

First Quantum can invest up to $20 million in the Sese JV.  African Energy's 25% share of additional funding will be loaned to it by First Quantum and carried to commercial production.

In December African Energy executed a binding share sale deal under which the company’s wholly owned subsidiary, Botswana Energy Solutions Ltd will sell the Mmamantswe Coal and Power project to TM Consulting for US$20 million, subject to certain conditions being met.

African Energy had cash reserves of $6.6 million in December 2015 and had been undertaking daily share buy- backs to tighten the share register and enhance capital gain prospects for the company.

African Energy is participating in the development of three large-scale power projects in Botswana, placing it in an enviable position to become a regional power force.



Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 04 Mar 2016 14:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148132/african-energy-resources-edges-closer-to-development-of-botswana-power-project-67342.html
<![CDATA[News - African Energy Resources to unveil new investment partner ]]> https://www.proactiveinvestors.com.au/companies/news/148129/african-energy-resources-to-unveil-new-investment-partner-58276.html African Energy Resources (ASX:AFR) has some very interesting news on the horizon regarding a material transaction with a new investment partner on the Sese Coal and Power Project.

The company is developing a series of 300MW integrated power projects and captive coal mines at the project, which have the potential to supply the energy starved countries of Botswana, Zambia and South Africa.

Last month Botswana’s Department of Environmental Affairs approved the Environmental Impact Assessment for the 300MW Sese integrated coal mine and power project.

The approved EIA encompasses a project comprising a 1.6Mtpa coal mine, coal handling and processing plant, 300MW power station, water pipeline, access road, transmission grid connection, construction camp, and an ash disposal facility.

AFR has been granted a trading halt to prepare the news, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Tuesday 21st October 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 17 Oct 2014 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148129/african-energy-resources-to-unveil-new-investment-partner-58276.html
<![CDATA[News - African Energy Resources extends completion of sale of Zambian uranium licenses ]]> https://www.proactiveinvestors.com.au/companies/news/148126/african-energy-resources-extends-completion-of-sale-of-zambian-uranium-licenses-54026.html African Energy Resources (ASX: AFR) has extended the binding letter of intent for the sale of its Chirundu Uranium and Kariba Valley licences in Zambia to Karoo Exploration Corp to 9 May 2014 for the finalisation of an Asset Sale Agreement.

The company had agreed in September 2013 to sell the licences for US$2 million in cash and US$500,000 in equity.

This will allow it to focus on its coal projects in Botswana.

Botswana Power Project

AFR and its partner ACWA Power International were in late February shortlisted to receive the bid invitation from the Botswana Ministry for Minerals Energy and Water Resources for a 300 megawatt coal-fired Greenfield Power Project tender in Botswana.

ACWA Power will be the lead developer, manager, co‐ordinator and chief point of contact of the Consortium, up to the point of financial close while AFR will act as co‐developer but with no commitment for additional developmental funding.

AFR’s Sese Project can support coal for multiple 300MW projects for regional power, and has a very low strip ratio with raw coal quality suited to low-cost power generation.

Sese hosts 2.5 billion tonnes of coal.

Another advantage with Sese is that it is close to existing transmission grid and planned grid extensions, and is matched to power markets in Botswana and neighbouring countries.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 01 Apr 2014 12:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148126/african-energy-resources-extends-completion-of-sale-of-zambian-uranium-licenses-54026.html
<![CDATA[News - African Energy Resources to discuss Botswana coal, power at “Stars in 2013” ]]> https://www.proactiveinvestors.com.au/companies/news/148125/african-energy-resources-to-discuss-botswana-coal-power-at-stars-in-2013-47680.html African Energy Resources (ASX: AFR) is focused on the Sese Integrated Power and Export projects in Botswana and has recently completed the acquisition of the 1.3 billion tonnes Mmamanstwe coal project.

Managing director Frazer Tabeart will present at the Proactive Investors’ "Stars in 2013 Series" Investor Forum on Wednesday, 2nd October 2013.

REGISTER HERE or call (02) 9299 5001 for more information.

The company has completed pre-feasibility studies for the Sese Integrated Power Project and is currently carrying out project partner negotiations.

This comprises an initial one or two 300 megawatt power stations plus 1.5 million tonne per annum “captive” coal mines in Block-C, which has Measured Resources for eight 300 megawatt projects for 30 years.

AFR has submitted a Request for Registration and Information to South Africa’s Department of Energy for the development of a 300MW power station and captive coal mine and also plans to submit an Expression of Interest in response to the Botswana Ministry of Minerals, Energy and Water Resources’ tender for development of a greenfield 300MW coal fired power station.

Concurrently, the company is developing its export strategy for Sese that will see the creation of new >100Mtpa infrastructure, whilst implementing a low‐cost, near-term 10‐20Mtpa interim solution.

Sese has 2.5 billion tonnes of thermal coal including 650 million tonnes in the Measured category.

The acquisition of the 1.3 billion tonne Mmamanstwe coal project from Aviva Corporation (ASX:AVA), which includes Probable Reserves of 895 million tonnes, gives AFR multi-development opportunity.

Cornerstone investor The Sentient Group also brings financial muscle and a project development focus, with its partner SDIC - China’s fifth largest state owned enterprise - well placed to provide additional experience in developing integrated power projects.

FORUM DETAILS:

Start time:  5:30pm - Please arrive by 5:15pm.

Date: Wednesday 2nd October 2013

Place: Radisson Blu Hotel - Cnr Pitt & O'Connell Street

Four exciting companies presenting (one more to be added), three Lucky Door Prizes which is then followed by a wine and canapé reception where you can personally interact with the presenting MD's & CEOs.


The event is FREE to attend but make sure you REGISTER today as the seats are filling quickly already.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 18 Sep 2013 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148125/african-energy-resources-to-discuss-botswana-coal-power-at-stars-in-2013-47680.html
<![CDATA[News - African Energy Resources in coking coal discovery in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/148123/african-energy-resources-in-coking-coal-discovery-in-zambia-41365.html African Energy Resources (ASX:AFR) has discovered coking coal in southern Zambia from recently received analytical data from its Sinazongwe coal project.

The find confirms the potential for AFR to derive a medium to hard coking coal primary product and a thermal coal middling by washing the coal.

Previously announced reconnaissance drilling by African Energy discovered the presence of multiple coal seams (up to 3 seams, each being 1‐7 metres thick) in eight holes drilled at Sinazongwe.

Sinazongwe is located in the Gwembe Valley, Zambia’s only coal producing region, where a 300MW power station is currently under construction to provide electricity for the Zambian domestic market.

FSI

A total of 17 of the 19 samples were determined to have a Free Swelling Index (FSI) above 4.5. Maximum FSI was 8.5, with a mean FSI of 6.1, indicating some potential for medium to hard coking coal.

FSI analyses of the coal seams in the remaining 4 holes are expected in the coming weeks and will be reported once received.

Further drilling, proximate analyses and washing tests will be required to evaluate the full potential of this project.

The company's cash position at 31 December 2012 was US$3.7 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 28 Mar 2013 09:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148123/african-energy-resources-in-coking-coal-discovery-in-zambia-41365.html
<![CDATA[News - African Energy Resources digs in with Archaeological Permit approved for coal mine ]]> https://www.proactiveinvestors.com.au/companies/news/148122/african-energy-resources-digs-in-with-archaeological-permit-approved-for-coal-mine-39431.html African Energy Resources (ASX:AFR) has been given an Archaeological Permit for a coal mine and power station at the Sese Integrated Power Project in Botswana.

This leaves just one item of fieldwork outstanding which is the dry season air monitoring which will occur in mid‐2013.

All environmental approvals are on schedule and are not expected to impact the project development schedule.

Today's approval allows the project to proceed subject to normal reporting of chance cultural/archaeological finds, monitoring of all earth moving activities for cultural/archaeological artifacts and finds.

Standard conditions have been given in the approval following submission of an Archaeological Impact Assessment (AIA).

Sese Coal and Power Project recent progress

Recent discussions with the preferred electricity off‐taker have continued for the output of the 300MW Sese Integrated Power Project.

These have included detailed appraisals on transmission options, a draft electricity tariff structure and project delivery timeframes.

The key outcome of the pre‐feasibility study for the Integrated Power Project was that no technical flaws were identified and that the project is technically and economically robust at current Southern African Power Pool prices.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 12 Feb 2013 08:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148122/african-energy-resources-digs-in-with-archaeological-permit-approved-for-coal-mine-39431.html
<![CDATA[News - African Energy Resources to raise capital ]]> https://www.proactiveinvestors.com.au/companies/news/148120/african-energy-resources-to-raise-capital-35263.html African Energy Resources (ASX: AFR) has been placed in pre-open this morning after the ASX granted the company a trading halt pending a capital raising announcement.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 5th November.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 01 Nov 2012 11:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148120/african-energy-resources-to-raise-capital-35263.html
<![CDATA[News - African Energy Resources chairman takes stake to 13.2 million shares ahead of Sese coal PFS ]]> https://www.proactiveinvestors.com.au/companies/news/148118/african-energy-resources-chairman-takes-stake-to-132-million-shares-ahead-of-sese-coal-pfs-29143.html African Energy Resources (ASX: AFR) has received a vote of confidence from executive chairman Alasdair Campbell Cooke, who has increased his direct holding in the company, taking up 1 million shares.

Cooke purchased the shares on the market for consideration of A$200,288, equivalent to about A$0.20 per share.

This takes Cooke’s total direct holding in African Energy to 13.2 million shares, in addition to 15 million indirectly shares and a number of unlisted options.

African Energy is on its way to the commercial delivery of coal from the company’s Sese Thermal Coal Project in Botswana, with negotiations beginning earlier this month.

In April, the company completed a milestone trial rail delivery of 25 tonnes of coal, demonstrating that the transport of Sese coal via rail to the east coast of Africa is possible using existing infrastructure.

The company will negotiate with Botswana to establish an economic rail tariff for the transport of coal from the Sese project to Maputo in Mozambique.

A Pre-Feasibility Study for Sese is expected to be completed by the end of June this year while a bankable feasibility study remains on track for delivery by the end of 2012, along with mining licence approvals and financing negotiations.

The next step will then be the commencement of coal sales from stage one in mid-2013.

The Sese project hosts over 2.5 billion tonnes of coal at the project in the Indicated category, and is amenable to open-cut strip mining, with low risk and low costs.

Part of the resource is now targeted to be moved into the higher confidence Measured category in the June 2012 quarter.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 22 May 2012 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148118/african-energy-resources-chairman-takes-stake-to-132-million-shares-ahead-of-sese-coal-pfs-29143.html
<![CDATA[News - African Energy Resources to start talks on commercial delivery of coal to Maputo ]]> https://www.proactiveinvestors.com.au/companies/news/148116/african-energy-resources-to-start-talks-on-commercial-delivery-of-coal-to-maputo-28437.html African Energy Resources (ASX: AFR) is about to start negotiations with Botswana to establish an economic rail tariff for the transport of coal from its Sese Thermal Coal Project in the country to Maputo in Mozambique.

The company had last month completed a milestone trial rail delivery of 25 tonnes of coal, demonstrating that the transport of Sese coal via rail to the east coast of Africa is possible using existing infrastructure.

Besides the talks with Botswana’s Ministry of Transport and Communications and Botswana Railways, which will include discussion on improving efficiency on the rail network, African Energy has also engaged specialist rail and port consultants to evaluate options to increase the capacity on the existing infrastructure.

As part of the process, the company has made a written submission to Grindrod, operators of the Matola Coal Terminal in Maputo, seeking an allocation for coal exports under their terminal expansion plan.

Meanwhile, members of African Energy’s executive management team have embarked on a roadshow through India and China to promote the Sese project to potential strategic development partners.

The Botswana Ministry of Minerals, Energy and Water Affairs (MMEWR) has also started assessing the first of its coal prospecting licence applications, Foley West.

This covers the area immediately to the north and south of the Sese project.

A pre-feasibility study for the project is expected to be completed by the end of June this year while a bankable feasibility study remains on track for delivery by the end of 2012, along with mining licence approvals and financing negotiations. The next step will then be the commencement of coal sales from stage one in mid-2013.

The defining factor for Sese is that the entire deposit is amenable to open-cut strip mining, with low risk and low costs, and mining blocks are around 500 metres by 200 metres.

The bankable feasibility study is evaluating a mining operation of up to 5 million tonnes per annum of coal, with the option for an associated mine‐mouth power station of up to 600 megawatts.

The Sese Coal Project hosts over 2.5 billion tonnes of coal at the project in the Indicated category, after more than 95% of the in-situ resource was classified.

Part of the resource is now targeted to be moved into the higher confidence Measured category in the June 2012 quarter, which will be from Blocks B and C.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 03 May 2012 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148116/african-energy-resources-to-start-talks-on-commercial-delivery-of-coal-to-maputo-28437.html
<![CDATA[News - African Energy Resources strong results at Sese support infill drilling program ]]> https://www.proactiveinvestors.com.au/companies/news/148115/african-energy-resources-strong-results-at-sese-support-infill-drilling-program-14620.html The African Energy Resources (ASX: AFR) Sese project in Botswana has already delivered some bumper coal drilling results, with the company kicking off an infill drilling program.

The one kilometre by one kilometre infill drilling at Block-B will permit classification of the resource to Indicated Resource status, taking around three months to complete.

At Block-B, eleven reverse circulation and 15 diamond drill holes have been completed, across an area of around 21 square kilometres.

The average seam thickness in Block-B to date is 14.8 metres, with an average depth to the top of this seam of 40 metres, with the Inferred Resource delineation drilling now complete.

Essentially what is very important about Block-B is that along with drilling results from Block-A and Block-C, is that a 110 square kilometre continuous coal seam has been identified.

African Energy is forecast to deliver an initial Inferred Resource in April 2011.

Added to this, the company has committed to the collection of a bulk sample of around 10,000 tonnes of coal via a trial pit.

 

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Mon, 14 Mar 2011 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148115/african-energy-resources-strong-results-at-sese-support-infill-drilling-program-14620.html
<![CDATA[News - African Energy Resources drives uranium thrust with Zambian acquisitions ]]> https://www.proactiveinvestors.com.au/companies/news/148113/african-energy-resources-drives-uranium-thrust-with-zambian-acquisitions-14467.html African Energy Resources (ASX: AFR) is boosting African based exposure to uranium with the 100% acquisition of two uranium based projects in Zambia.

The two projects, Chirundu Uranium and Kariba Valley, were initially part of a joint venture with Albidon (ASX: ALB).

African Energy is funding the acquisition from existing cash reserves, with working capital funded by a partial drawdown of the $5 million convertible loan facility with Macquarie Bank (ASX: MQG).

Uranium has already been discovered, with Chirundu containing the Njame and Gwabe deposits, which collectively contain a total of 11.1 million pounds in U3O8 in Measured, Indicated and Inferred Resources.

African Energy is looking to move the acquisitions forward quickly, and is evaluating a number of additional exploration targets at Chirundu and Kariba Valley tenements with the aim of boosting the resource.

A Pre-Feasibility study was completed at Chirundu in May 2008, which gave African Energy a 70% interest in the project.

Following this in 2009, there was a further boost to the project when the Zambian Ministry of Mines and Minerals Development granted a Large Scale Mining Licence for the development of Chirundu.

At Kariba Valley, which was the company's second joint venture with Albidon, and prior to acquiring the 100% interest, African Energy held a 30% stake and could have earned up to a 70% interest by completing a Pre-Feasibility study and delivering an Indicated resource.

Already at the project, numerous targets have been identified which African Energy said require systematic evaluation to prioritise for drilling.

Kariba is strategically located, about 250 kilometres from Lusaka by road, and 50 kilometres south-west of Denison Mines’ (TSX: DML) (NYSE AMEX: DNN) tenement which contains the Dibwe and Mutanga uranium deposits.

At Mutanga, Denison said based on 45,600 metres of development drilling, Measured resources are estimated at 2 million pounds of U3O8, Indicated 5.8 million pounds of U3O8, with Inferred resources exceeding 13 million pounds of U3O8.

 

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Tue, 08 Mar 2011 10:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148113/african-energy-resources-drives-uranium-thrust-with-zambian-acquisitions-14467.html
<![CDATA[News - African Energy Resources agrees A$5m convertible loan facility to fund Sese ]]> https://www.proactiveinvestors.com.au/companies/news/148111/african-energy-resources-agrees-a5m-convertible-loan-facility-to-fund-sese-14434.html African Energy Resources (ASX: AFR) has secured funding for more advanced exploration at the Sese Coal Project in Botswana, with a US$5 million convertible loan facility with powerhouse investment bank Macquarie Bank (ASX: MQG).

African Energy has had a string of stellar drilling results from Sese, and recently identified the average seam thickness in Block-B to be 15 metres, with easy extraction due to being near surface, with an average depth to the top of the seam just 38 metres.

More importantly, what the latest discovery actually identified, along with drilling results from Block-A and Block-C, is a continuous coal seam over an area of 110 square kilometres.

The convertible loan facility has an interest rate of LIBOR + 3.5%, and is to be fully repaid by 31 December 2011.

Under the terms of the facility, African Energy has issued Macquarie with 4,843,230 call options exercisable at A$1.03 and expiring 31 December 2012.

 

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Mon, 07 Mar 2011 09:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148111/african-energy-resources-agrees-a5m-convertible-loan-facility-to-fund-sese-14434.html
<![CDATA[News - African Energy Resources director Michael Curnow boosts stake ]]> https://www.proactiveinvestors.com.au/companies/news/148109/african-energy-resources-director-michael-curnow-boosts-stake-13976.html African Energy Resources (ASX: AFR) non-executive director Michael Curnow has substantially increased his stake in the company with an on-market share purchase.

Curnow purchased 250,000 shares for a consideration of $185,712, which equates to an average buy price of $0.74.

Curnow now holds a total of 644,555 shares and 899,736 options exercisable at $0.3125 on or before 30 June 2012.

African Energy has recently been very well supported by investors, last trading at $0.87.

 

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Wed, 16 Feb 2011 10:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148109/african-energy-resources-director-michael-curnow-boosts-stake-13976.html
<![CDATA[News - African Energy Resources 15% share spike prompts ASX 'please explain' ]]> https://www.proactiveinvestors.com.au/companies/news/148107/african-energy-resources-15-share-spike-prompts-asx-please-explain-13972.html African Energy Resources (ASX: AFR) shares jumped 15% from the open to $0.875 in intra-day trading yesterday, prompting an ASX price and volume query.

The company said it is not aware of any material information which may explain the sudden investor interest in the stock.

The company did however state in a response back to the ASX:

"Over the past three weeks, African Energy management have embarked on a road show to the UK, Europe and Africa which has generated strong interest from various broking houses and institutional shareholders.

"Increased demand in the stock may have also arisen in anticipation of Block-B drilling results at the Sese Coal Project that are expected during February, as announced in the December quarterly report."

Investors maintained buying momentum in the stock throughout the day, with African Energy closing at $0.905.

 

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Wed, 16 Feb 2011 08:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148107/african-energy-resources-15-share-spike-prompts-asx-please-explain-13972.html
<![CDATA[News - African Energy Resources director tops-up shareholding ]]> https://www.proactiveinvestors.com.au/companies/news/148105/african-energy-resources-director-tops-up-shareholding-11910.html African Energy Resources (ASX: AFR) director Michael Curnow acquired 100,000 ordinary shares in on market purchases on 18th November at $0.30 per share.

On October 20, the company announced a private placement to raise up to A$1.44 million, offered at $0.15 a share to fund the resource delineation drilling program at the Sese coal project.

African Energy reported on November 6 that further resource delineation drilling in Block-A of the Sese coal project in Botswana continued to intersect thick, near-surface coal seams, with the average seam thickness increased to 16.3m with an average depth to the top of the coal of 44.6m.

The project is situated close to the sealed highway between Francistown and Gaborone and is easily accessible. Rail, road and power infrastructure is close to the project area.

 Currently AFR is trading at $0.28.




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Mon, 22 Nov 2010 14:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148105/african-energy-resources-director-tops-up-shareholding-11910.html
<![CDATA[News - African Energy Resources intersects thick near surface coal at Sese ]]> https://www.proactiveinvestors.com.au/companies/news/148104/african-energy-resources-intersects-thick-near-surface-coal-at-sese-11365.html African Energy Resources (ASX: AFR) has identified significant near surface coal seams over a  7km by 3km area at the Sese Coal project in Botswana, with the coal seams average thickness of 14.5m, from an average depth to the top of the coal just 39m.

The thick coal seams are potentially amenable to low cost, low strip ratio of less than 3:1 open pit mining.

The coal seam has been intersected by 20 reverse circulation percussion holes and 3 diamond drill core holes, with some of the holes extending the known coal intersections beyond the current exploration target of; 1.0 to 1.5 billion tonnes of 4,000kcal/kg to 5,000kcal/kg thermal coal.

African Energy is currently mobilising additional rigs to accelerate drilling, with a resource estimation now expected in the first quarter of 2011.

Potential remains for more coal discoveries, with five diamond drilling holes still to be completed.

Of major importance to the project, the Sese Prospecting Licence has been renewed for a further period of two years.

The Sese Coal project comprises one wholly owned prospecting licence and one prospecting licence application located in northeast Botswana, approximately 50km southwest of the town of Francistown.

The project is situated close to the sealed highway between Francistown and Gaborone and is easily accessible. Rail, road and power infrastructure is close to the project area.

In September 2010, African Energy announced it had entered into discussions with potential partners at Sese, with the funds needed for the next stage of the development.

African Energy is prepared to offer a stake of between 10% to 20%, including the right for the incoming party to earn additional equity in the project, through funding various milestones.

 

Article highlight:

Fresh from a $1.44m placement, African Energy's intersection of a thick coal seam over a 7km by 3km area at surface in Botswana, providing momentum for a resource definition at Sese in Q1 2011 and the potential for fast-track development.

 

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Wed, 03 Nov 2010 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148104/african-energy-resources-intersects-thick-near-surface-coal-at-sese-11365.html
<![CDATA[News - African Energy Resources receives multiple expressions of interest to acquire interest in Sese coal project ]]> https://www.proactiveinvestors.com.au/companies/news/148102/african-energy-resources-receives-multiple-expressions-of-interest-to-acquire-interest-in-sese-coal-project-10195.html African Energy Resources (ASX: AFR) has entered discussions with potential partners at the wholly owned Sese project in northeast Botswana, with the funds needed for the next stage of the development.

The company is prepared to offer between a 10% to 20% stake in Sese, including the right for the incoming party to earn additional equity in the project through funding various milestones, and is encouraged by Indian interest in nearby miner CIC Energy (TSX: ELC).

Canadian based CIC Energy recently received a CAD$450 million offer to purchase the  companies’ s unmined 1.9 billion tonne measured and indicated, predominantly underground resource of thermal coal in eastern Botswana, from an undisclosed Indian company.

The CIC offer can act as a leading price benchmark for potential investors in the Sese project, by indicating an international dollar value for unmined coal in Botswana.

African Energy coal intersections suggest an exploration target of between 1.0 billion tonnes and 1.5 billion tonnes of 4,000 kcal/kg to 5,000 kcal/kg raw coal, which may be amenable to low-cost open pit extraction.

Based on a recent 42 hole drill programme at Sese identifying thick coal seams, African Energy is now preparing to conduct resource delineation drilling.

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Wed, 22 Sep 2010 06:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148102/african-energy-resources-receives-multiple-expressions-of-interest-to-acquire-interest-in-sese-coal-project-10195.html
<![CDATA[News - African Energy Resources makes coal discovery at Sese project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/148100/african-energy-resources-makes-coal-discovery-at-sese-project-in-botswana-8281.html African Energy Resources (ASX: AFr) has made a significant coal discovery from RC drilling at its Sese Project in northeast Botswana.

Drilling has identified potentially extensive near‐surface coal seams of up to 16m thickness over a wide area on its wholly owned Sese project.

Interestingly, the RC programme of RC percussion drilling was designed to assess a number of uranium targets hosted by Lower Karoo aged sediments, each of which has potential for the type of uranium mineralisation previously identified at the Company’s Foley and Gojwane prospects.

However, coal has been identified in drill cuttings from all holes drilled to date on Target 5 and on the first hole drilled into Target 4. Each of these vertical drill holes has identified at least one coal seam with apparent thicknesses varying from a minimum of 8m to a maximum of 16m.

The coal seams are all close to surface, and subject to further assessment of the commercial quality of the coal, may be amenable to extraction by open‐pit methods. Visual inspection of the drill cuttings indicates that bright, reflective fines are present in all coal seam intersections.

Further work is required to assess the quality of the coal, to include its specific gravity, calorific value,
ash content, sulphur content, moisture content and total volatile content. Further drilling is also required to determine the extent and continuity of the coal.

What makes the discovery even more interesting is that the coal occurrence is close to infrastructure, including rail and power, both of which are within 20km.

The Sese project comprises two 100% owned prospecting licences located in northeast Botswana, approximately 50km southwest of the town of Francistown.

The project is situated close to the sealed highway between Francistown and Gaborone and is easily accessible. Rail, road and power infrastructure is close to the project area. The project covers an area of Karoo sediments where very high background uranium levels have been observed in publicly available regional airborne radiometric data. Minor coal occurrences were previously documented from historical drilling undertaken near the settlement of Foley.

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Wed, 30 Jun 2010 06:17:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148100/african-energy-resources-makes-coal-discovery-at-sese-project-in-botswana-8281.html
<![CDATA[News - African Energy Resources looking for larger uranium footprint in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/148098/african-energy-resources-looking-for-larger-uranium-footprint-in-zambia-5944.html African Energy Resources (ASX: AFR) has announced that the 2010 exploration programme for Zambia and Botswana has been finalised and approved for immediate commencement.

The programme is designed to increase known uranium resources in southern Zambia and may lead to additional discoveries in northern Zambia and in Botswana.

The approved programmes include 21,000m of reverse circulation (RC) percussion drilling, of which 7,500m has been allocated to the Sese Project in Botswana and the remainder to projects in Zambia.

The programmes include: 3,000m new targets in NW part of the Sese Project, Botswana; 4,500m infill drilling at Gojwane prospect, Sese; 3,000m new targets in the Chirundu JV, Zambia; 7,000m new and existing targets in the Kariba Valley JV, Zambia; 2,000m new targets in the Aldershot JV, Zambia and 1,500m to drill test the Sitwe target in the Northern Luangwa Valley Project in Zambia.

Work has already commenced on developing access roads for the exploration programmes in the Sese Project, Botswana. The Sese Project is wholly owned by African Energy. The company has conducted drilling at two prospects to date, Foley and Gojwane, with significant uranium mineralisation discovered in drilling at both.

In addition to follow-up work on these prospects, the company said a number of other untested uranium targets have been identified for drill testing in 2010.

The total budgeted expenditure to December 2010 is USD $3.7 million, of which USD $2.4 million is for direct exploration and exploration support.

At the end of February, the company’s cash position was USD $5.1 million.

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Thu, 25 Mar 2010 05:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148098/african-energy-resources-looking-for-larger-uranium-footprint-in-zambia-5944.html
<![CDATA[News - African Energy chases northern extension of neighbouring uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/148097/african-energy-chases-northern-extension-of-neighbouring-uranium-project-2773.html Perth-based African Energy Resources (ASX: AFR) has embarked on an initial RC drilling campaign in the southern part of the Sese uranium project in north eastern Botswana about 50 km south west of the city of Francistown.

The drilling program is designed to assess a radiometric anomaly, which is adjacent to the Letlhakane project owned by Melbourne-based junior A-CAP Resources (ASX:ACB) and which is interpreted to be the northern continuation of the known uranium resource there.

African Energy expects assay results from Sese to start rolling in from late October.

To the immediate south of the Sese tenement, A-Cap has identified widespread and continuous uranium mineralisation at Letlhakane and has outlined an inferred resource containing an estimated 98 million pounds of U3O8 at an average grade of 158 ppm U3O8 for the project.

This resource extends to the tenement boundary with the Sese prospecting licence, according to African Energy.

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Tue, 06 Oct 2009 14:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148097/african-energy-chases-northern-extension-of-neighbouring-uranium-project-2773.html
<![CDATA[News - African Energy has high hopes to increase uranium resource at Chirundu ]]> https://www.proactiveinvestors.com.au/companies/news/148095/african-energy-has-high-hopes-to-increase-uranium-resource-at-chirundu--2514.html Southern African uranium explorer African Energy Resources (ASX: AFR) has commenced drilling at Njame South prospect, part of Chirundu Joint Venture project in Zambia.

Investors may recall that the Chirundu uranium project, JV with Albidon (ASX: ALB) has a total resource 7.4 Mlb U3O8 at an average grade of 293 ppm U3O8.

African Energy will drill 60 holes at Njame South, targeting a ground radiometric anomaly which was previously
drilled and found to contain uranium mineralisation by AGIP in the early 1980’s.

Charles Tabeart managing director of African Energy said this drilling program, plus programs at nearby Siamboka prospect, Gwabe South and Namakande, are aimed at adding additional resources to increase proposed uranium mine life at Chirundu.

Current mine life is 5-6 years.

Assay results from these programmes are expected to be received from late October onwards.

African Energy holds a 70% interest in Chirundu. The company recently raised $4 million for drilling

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Fri, 11 Sep 2009 13:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148095/african-energy-has-high-hopes-to-increase-uranium-resource-at-chirundu--2514.html