African Eagle Resources, a nickel development and exploration company listed on the London AIM and Johannesburg AltX Stock Exchanges, on Tuesday said it had achieved advances in the development of a bankable feasibility study in Tanzania’s Dutwa Nickel project.
During 2012, the company undertook a significant amount of work directed towards de-risking the project which is located about 25km south of Lake Victoria. In its latest update to shareholders, the company said the resource estimate for Dutwa Nickel project had been upgraded and extended.
It said extensive metallurgical test work had been performed on both ore types in the two hills comprising Dutwa (Wamangola and Ngasamo), leading to much improved understanding and prediction of process behaviour in terms of beneficiation.
The company has also significantly advanced its efforts regarding the environmental and social impact assessment, which is being performed in accordance with Tanzanian government regulations.
It added that logistics review studies have developed significantly with the company now believing that rail transport to and from the project is a viable and secure transport option.
Efforts have been extended to secure agreement with the governments of Tanzania and surrounding countries on the method and structure of rail operations in support of Dutwa.
African Eagle’s CEO, Trevor Moss, said he had good confidence in the process method with beneficiation and sequential leaching offering tangible benefits.
“We have significantly improved the understanding of reagent supply and transportation. We seek to extend that knowledge further via economical means such as the integrated test, which will provide meaningful additional data without incurring the significant cost of the main pilot plant,” Moss said.
“It is important that the company seeks maximum benefit for its shareholders and the early engagement of a strategic partner to assist in the development of Dutwa is a key objective in this regard. We plan to expand our activities toward this objective.”