Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Nov 2009drilling result● Neutral
Assays for 21 more Gojwane holes confirm widespread but modest uranium mineralisation, with thin intercepts such as 5m @ 168ppm. The company says the drill spacing is too broad to judge size or continuity. 61 holes await assay; infill drilling is likely early 2010.
10 Nov 2009drilling result▲ GoodMajor
First 10 holes at Gojwane (Sese, Botswana) hit near-surface uranium, best 19m @ 327ppm U3O8. Spectrometer readings suggest mineralisation over about 2km x 3km, apparently the northern continuation of A-Cap's adjacent deposit. 82 holes still await assay; infill drilling likely early 2010.
4 Nov 2009drilling result▲ Good
Soil sampling at Namakande (Kariba Valley JV) finds three more uranium anomalies (D, E, F), lifting prospective strike to over 20km. Rock outcrop assays reach 2,950ppm eU3O8, the highest surface value on its Zambian projects. Drilling starts early November.
20 Oct 2009drilling result▲ GoodMajor
Njame South drilling (74 holes) finds near-surface uranium in two zones over about 1,000m of strike. Early results from 29 holes include 8m @ 414ppm U3O8. A resource estimate is due early 2010 and could add to the 7.4Mlb.
7 Oct 2009drilling spud▲ Good
Drilling starts at Siamboka, the 5km uranium soil anomaly 8km north of Njame, with about 70 holes planned. Results are expected from early November, as flagged in the September drilling plan.
6 Oct 2009drilling spud▲ Good
Drilling starts at the 100%-owned Sese project in Botswana: about 50 holes on a radiometric anomaly next to A-Cap's Letlhakane project (98Mlb inferred resource). Results are expected from late October.
30 Sept 2009drilling result▲ Good
Soil sampling at Namakande in the Kariba Valley JV defines three uranium anomalies over 10km of strike, with rock outcrop up to 453ppm eU3O8. Drilling is scheduled for November. Issued capital is now 254.8m shares.
11 Sept 2009drilling spud▲ GoodMajor
Drilling starts at Njame South (about 60 holes), then moves to Siamboka (70 holes), Gwabe South and Namakande. The aim is to find more resource to extend Chirundu's 5-6 year mine life; results are expected from late October.
17 Aug 2009drilling scheduled▲ Good
A review of Sese data, including earlier Foley drilling (best 4m @ 854ppm U3O8), identifies new targets, including land next to A-Cap's inferred resource. Reverse circulation drilling is planned from October 2009, following the Sese plan in the quarterly report.
21 July 2009drilling result▲ GoodMajor
Soil sampling finds a 5km long, up to 0.6km wide uranium anomaly at Siamboka, 8km north of Njame, in rocks similar to those hosting Njame. Drilling starts in September within a planned 17,500m programme, so exploration resumes after the earlier suspension.
14 Apr 2009farm in farm out agreement▲ GoodMajor
African Energy signs an earn-in with Aldershot Resources over two licences (about 754 sq km) next to its Kariba Valley JV. It can earn 51% by spending A$500,000 within three years, rising to 70% with a prefeasibility study and an Inferred Resource.
20 Mar 2009resource reserve update● NeutralMajor
Chirundu resource upgraded in confidence: Njame and Gwabe now include a Measured category, but total contained uranium falls to 8.7Mlb from 9.5Mlb. Further drilling is planned, and the company is talking to potential strategic partners about funding it.
28 Jan 2009drilling result▲ Good
Soil sampling at the 100%-owned Sitwe prospect in northern Zambia found an 8km uranium anomaly, peak 66ppm eU, in Karoo-age rocks similar to Chirundu. Early stage: more sampling and drilling are planned for Q2-Q3 2009 after the wet season.
13 Jan 2009drilling result▲ Good
Diamond drilling at Gwabe confirms a core zone about 8m thick, 16m below surface; best hits 5m at 899ppm and 6.15m at 772ppm U3O8. Decision on restarting the deferred study now expected by Q2 2009, then about six months to finish.
8 Dec 2008drilling result▲ Good
Gwabe infill drilling at Chirundu returns high-grade hits, best 10m at 907ppm U3O8 and 12m at 669ppm. Drilling is complete; Measured and Indicated resource now due Q1 2009, and Mintek testwork has begun. Deferred study aspects to be reviewed Q1 2009.
2 Oct 2008drilling result▲ Good
Infill drilling at Njame finished ahead of schedule, with best result 16m at 885ppm U3O8. GRDM Minproc is appointed to manage the bankable study, due Q2 2009. A Measured and Indicated resource statement is planned for Q4 2008.
8 May 2008resource reserve update▲ GoodMajor
Njame and Gwabe partly upgraded to Indicated (Njame 3.9Mt at 388ppm, Gwabe 0.9Mt at 196ppm). Total Chirundu resource rises 5% to 4,345t (9.5Mlb) U3O8. African Energy's stake rises to 70%; Albidon has 60 days to elect to fund or dilute.
24 Apr 2008drilling result▲ GoodMajor
Board approves the Chirundu pre-feasibility study, which found commercially viable mining possible, and commits to a bankable feasibility study. Indicated resource upgrades await peer review, then the stake rises to 70%. Energy Ventures now holds 64% after the placement.
17 Mar 2008drilling result▲ Good
Soil and rock-chip sampling at Namakande in the Kariba Valley JV found anomalies up to 1,150ppm U3O8 (target C). Drilling is now scheduled for Q3 2008, after Chisebuka. These are surface results only, not drilling.
11 Mar 2008drilling result▲ GoodMajor
Final assays for the remaining 30 Chisebuka holes confirm a uranium discovery: two parallel zones up to 800m long, best 7m at 465ppm U3O8, still open along strike. More drilling follows in Q2 or Q3 2008 after the rains, with a track-mounted rig.
7 Mar 2008drilling result▲ Good
Final Njame infill assays (about 100 holes) confirm grade and continuity, best 17m at 835ppm U3O8 from 23m. Drilling density now suits an Indicated Resource, expected early Q2 2008. The pre-feasibility study remains on schedule for end of Q1.
19 Feb 2008resource reserve update▲ GoodMajor
Njame's Inferred Resource rises to 8.8Mt at 340ppm U3O8, 3,000t (6.6Mlb), up from 2,200t at Njame North. Chirundu JV total becomes 4,120t (9.1Mlb), up 25%, meeting the 4,100t target. Indicated category update expected Q2 2008.
10 Jan 2008drilling result▲ GoodMajor
Njame East, a new blind zone next to the Njame North resource, returned the highest grades yet: 5m at 2,389ppm U3O8 (first 19 of 23 holes). It is open in several directions; an updated Njame resource model takes about a month.
14 Dec 2007drilling result▲ Good
First assays from 5 of 35 Chisebuka holes (Kariba Valley JV) confirm near-surface uranium, best 7m at 445ppm U3O8 from 11m. Remaining 30 holes' assays are due Q1 2008; more drilling follows the rains. Early, partial results.
5 Dec 2007resource reserve update▲ GoodMajor
Gwabe, discovered in 2007, gets a first Inferred Resource of 4.2Mt at 267ppm U3O8 (2.5Mlb), 3m to 29m deep. Chirundu JV resources rise 50% to 7.3Mlb, feeding the pre-feasibility study due Q1 2008. Resolves the pending Gwabe estimate.
27 Nov 2007drilling result▲ GoodMajor
Sese in Botswana, wholly owned, is a new greenfields uranium discovery at the Foley anomaly. Best result is 9m at 370 ppm U3O8 from 40m, which may suit open pit mining. Assays are in for 14 holes of over 80 drilled; the rest are due in Q1 2008.
25 Oct 2007drilling result▲ Good
Namakande E in the Kariba Valley JV shows uranium in rock chips up to 623 ppm U3O8 over more than 1,400m of strike (about 1,700m with scintillometer readings). It becomes a drill target once Chisebuka drilling finishes. Surface sampling only, not drilling.
24 Oct 2007drilling spud▲ GoodMajor
Drilling has started at Sese (Botswana, 100% owned; 2,500m programme, 39 holes done, rig extended) and at Chisebuka (Kariba Valley JV; up to 4,000m planned, 13 holes done). Assays are due late November. Pre-feasibility study now due February 2008, later than the December 2007 target; Njame resource due December.
23 Oct 2007drilling result▲ Good
Njame extensional RC drilling is complete (138 holes, 8,678m), showing continuous shallow uranium over at least 900m, 1m to 17m thick; best 16m at 295 ppm. Assays are in for 48 holes; a revised Njame North Inferred Resource will follow, and infill drilling for the pre-feasibility study has started.
19 Oct 2007drilling result▲ GoodMajor
Gwabe RC drilling is complete at 161 holes, defining continuous shallow uranium mineralisation over at least 700m, 1m to 18m thick. A resource estimate, audited by Coffey Mining/RSG Global, is expected within two weeks; infill drilling has started at Njame.
