African Eagle (#AFE) - RTO, related party deal, announced in South Africa
- 2014-11-20 00:27:25
Shares in African Eagle (AFE) were suspended from the AIM Cesspit today because as an “investing company” it has failed in twelve months to…er make an investment. In six months’ time if it has made no investment it will be booted off the casino for good. At the suspension price of 0.28p it is valued at £2.5 million but worth NOTHING. Who said markets were efficient?
The story of AIM cesspit woe that is African Eagle (AFE) continued apace this week with news that all of its assets have been put into a company called Blackdown and that African is to sell 90% of that company for just $100,000. Actually it will not make that much from the sale but more on that later.
It is quite clear from the daily chart of African Eagle in recent months and years that this is certainly not the type stock that dreams are made of, unless of course you are a bear.
While African Eagle has been a stock on the radar as far as the minnows are concerned, the past few weeks have seen it particularly highlighted as a situation that could opportunity as much on a technical basis as on the news of the latest stakebuilding.
African Eagle (AFE) joined AIM from PLUS in June 2003. Today it is six months away from oblivion.








