Directorate change
(Thomson Reuters ONE) - AFRICAN EAGLE ANNOUNCES APPOINTMENT OF NEW CHAIRMANAfrican Eagle Resources plc (AIM: AFE; AltX: AEA) today announces theappointment of Euan Worthington as Non-Executive Chairman with effectfrom 14 October 2009. John Park, who has served as African Eagle'sChairman since 1998, has informed the Company of his intention toretire from this position and from the Board from this date.Managing Director Mark Parker said, "The Board acknowledges withgreat appreciation John's many contributions during his eleven yeartenure on the Company's Board. John has been a very active Chairmanwho has dedicated substantial time and effort to the Company. We willmiss him and wish him the best in his future endeavours."We are very pleased to announce that John's successor will be EuanWorthington, who has been the Deputy Chairman of African Eagle sinceOctober 2006 and a board member since 2003. Euan is well known in theCity of London, having worked in mining corporate finance andresearch at Hoare Govett, Shearson Lehman, SGWarburg and ABN Amro. Hehas extensive experience of mining finance and participated, as TeamLeader or Mining Adviser, in numerous deals, including advisingSutton Resources in Tanzania and Falconbridge Gold in Zimbabwe. Euanremains Chairman of DiamondCorp and a Non-Executive Director ofEuropean Nickel. He will bring valuable knowledge and aptitude as thedevelopment of Dutwa continues. "For further information:Mark ParkerManaging DirectorAfrican Eagle+44 20 7248 6059+44 77 5640 6899Nicola MarrinSeymour Pierce Limited, LondonNominated Adviser+ 44 20 7107 8000Charmane RussellRussell & Associates, Johannesburg+ 27 11 8803924+27 82 8928052Ed Portman / Leesa PetersConduit PR, London+44 20 7429 6607+44 (0) 7733 363 501About African EagleAfrican Eagle is a mineral exploration and development companyoperating in eastern and central Africa. The Company's principaladvanced project is the Dutwa nickel laterite discovery in Tanzania,where the Company announced results of a positive scoping study inJuly 2009, which indicated that Dutwa, if it were in productiontoday, would be profitable. African Eagle is also a partner in theMkushi Copper Mines project in Zambia, for which a draft FeasibilityStudy was completed in Q4 2008.African Eagle has also defined a gold resource estimated at half amillion ounces at the Miyabi gold project in Tanzania, and isevaluating a second promising nickel laterite deposit which itrecently discovered in Tanzania. The Company holds a well-balancedportfolio of promising earlier stage gold and base metal projects,including the Ndola and Mokambo projects in the Zambian Copperbelt.Zambia, Tanzania and Mozambique, the sites of African Eagle'sprojects, are all countries which have highly prospective geology,relatively low above-ground risks and track records of successfulmajor investments in the metals and minerals industries.African Eagle specialises in project generation and exploration. Totake its discoveries into production, it seeks to sign up industrypartners with records of successful mine development. These jointventures and, in time, the revenue from advanced projects, willfinance future exploration and new discoveries.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 15.10.2009 - 08:00 Uhr
Sprache: Deutsch
News-ID 6934
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