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African Energy Resources

African Energy Resources to unveil new investment partner

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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.

Quick facts: African Energy Resources

Price: $0.01

Market: ASX
Market Cap: $7.52 m
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