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Wednesday, 24th December 2008 (1386 views)

African Eagle Resources has announced that RAB Capital acting as discretionary manager of RAB Special Situations (Master) Fund holds a significant shareholding in the company.

RAB has an indirect interest in 25,350,000 ordinary shares in the capital of African Eagle, representing around 11.93 per cent of the issued voting share capital of the mining company.

African Eagle is a diversified mineral exploration and development company with operations in Tanzania, Zambia and Mozambique in eastern and central Africa.

The firm has defined a half million ounce gold resource at the Miyabi project in the Lake Victoria Goldfield of Tanzania, which was discovered by its geochemical prospecting team.

African Eagle holds a "large well-balanced portfolio of promising earlier stage gold and base metal projects" and specialises in project generation and exploration.

Currently seeking industry partners with records of successful mine development, the business hopes to develop joint ventures to finance future exploration projects.

 

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