African Eagle continues to advance on bank feasibility study

AIM-listed Africa-focused nickel miner African Eagle Resources has today announced the selection of what it considers to be the quickest and most cost efficient metallurgical process -atmospheric tank leaching- for its flagship Dutwa nickel oxide project in Tanzania.

By MoneyWeek

published 17 January 2012

in Features

The above is an integral part of the process of finalizing the Dutwa bankable feasibility study, which in turn is critical if the company hopes to meet its financial projections, such as the capital pay-back period for example.

The process in question is the result of two years of test work which has determined that Dutwa ore, "allows simplified processing, with atmospheric leach methods resulting in rapid extraction without the need for the challenging and costly high-pressure acid leach technologies that have proven problematic elsewhere."

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

A pilot plant work programme of continuous fully integrated testing is in development for final confirmation of the performance of the Dutwa atmospheric leach process flowsheet; the pilot plant will treat ore samples representative of the planned mining schedule at Dutwa.

The Company is in advanced stage negotiations with Australian laboratories that have the ability to perform the pilot plant operation and testing.

As of 16:11pm shares of African Eagle Resources are down by 4.4% to 5.38p.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.