LONDON (Thomson Financial) - African Eagle Resources PLC posted a narrower
first half pretax loss on foreign exchange gains and lower deferred exploration expenses and said it is making excellent progress and that it is on track to achieve its goals.
The diversified mineral exploration and development company said its pretax loss for the six months ended June 30 narrowed to 444,709 stg from 638,444 stg in the last year.
The company said its drilling partner CGA Mining is on track to produce a pre-feasibilty study in the coming weeks and is likely to announce a significant resource update.
On its Tanzanian operations, the company said drilling will commence shortly at Dutwa, Igurubi and new Rupa projects while new drill targets have been identified at Eagle Eye project in Zambia.
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