specialist uranium funds

"strong interest received from uranium focused investment funds to participate in the placement in African Energy and a future IPO."

Taken from the company announcement. The above specialist uranium fund would no doubt be Geiger Counter limited as they have expressed previously an interest in the tenements. Geiger counter also has an interest in Wild Horse Energy (WHE).

The reasons why a specialist uranium fund is interested is because they recognise Eve's subsidiary African Energy Resources as one of the better uranium juniors out there.

The tenements are substantial at greater than 45,000km square. These tenements cover known historical targets in the Kariba valley and a very short distance from Omegacorps (OMC) tenements. They already have one early stage JORC resource at Njame with multiple hostorical targets with known mineralisation that are to be drilled early next year. These include Siamboka, Namekande, Munyumbe and Chisebuka. The Kariba Valley is still relatively unexplored and its liekly that they will come up with further targets as they progress just like OMC has.

The northern Luangwa Valley tenements are within 30km of paladins Kayelekera. They also have tenements in Malawi and Botswana that have radiometric anomalies.

Management are rock solid, EVE has the backing of the MRG group behind African energy. This includes Craig Burton, Donal Windrim and Alisdaire Cooke. These guys have experience and the financial backing and connections to get a company from exploration to production. These were the same group that backed Sallay Malay into production. They are also moving Albidon to production.

EVE has the formal general manager of BHP Olympic Dam on board as director in Ian Duncan. Ian is also former chairman of the World Nuclear association so has some of the best credentials in the Uranium industry.

It also seems very likely now that they will be bringing in another asset to EVE with the 3.77 million raised from the private placement. EVE has the connections through MRG to bring in another asset quickly and likely already have something lined up.

Craig Burton through Hercules Energy was involved with the acquisition of the Uranium assets that make up Wild Horse Energy's portfolio. Alisdaire Cooke and Donal Windrim brought the African Energy Resources to EVE for a large stake in the company. All are major holders and combined with their associated companies hold around 50% of EVE. They have already sugested that they have another asset lined up.

"The funds raised from this placement will enable Energy Ventures to actively pursue new investment opportunities. The company is currently targeting a number of opportunities in the energy sector that will compliment its existing investment portfolio"

These guys have the ability to acquire and inject new assets into EVE and also progress the current assets to production quickly. The MRG group has been very successful at riding the Nickel Boom through MBN, SMY and ALB and they now intend to ride the Uranium boom through EVE.

EVE has all the fundamentals required to be an excellant long term hold and not just a short term trade like some of the overvalued uranium plays out there.