This stock is having a good run, up for the last 5 days, Anybody know why?

5p is proving difficult to break through but when it does(on good news ) we could go to 8p or thereabouts.

Yep up nearly 40% in the last hour of trading today I wonder what the story behind the rise is.

This little snippet was taken from African Gs web site.

EXPLORATION

AFRICA

Four major properties have been identified and will be evaluated in the first quarter of 2004.

So this could be good news for buying and holding med /long ,and yesterday clearly broke the 5p barrier and up 36% on the day

G12

I'll have a read of the papers and try and find out whats going on..

...The word is that the company has agreed to buy a producing gold mine in African (sic) and that the (cracking) deal will be announced within a fortnight....

In response to recent press comments, African Gold is near to completing due
diligence on the Konongo Gold Mining lease, which covers the northeast portion
of the Ashanti Gold Belt in Ghana, about which information was announced on 29
January 2004. African Gold expects to make an announcement about this shortly.

hmmm price been falling quite dramatically on these. any ideas?

good news is rumoured.lets wait and see if this is mm tactic.

it would nt be the first time the price fell before positive news!

This is rediculouse 6.5 - 8p. The institutions bought in at 9p. Does anyone know if the institutions are bailing out?

what can we do now? sell or hold?

We are still due to hear some news from AFG management. Hopefully sooner than later. Maybe MM tacktic?

theres a lot of buying going on compared to sells now.

tbrooking66, not surprised at these prices.

hi all

just read a piece in the telegraph (yesterday), saying that african gold is under investigation, regarding a number of share bought when the first came on AIM ???(dont know why its taken this long). sorry cant inform you anymore it was very vague, but whilst afg keep us gusting on the news front. its going to be a rough ride for the next few weeks.
on a plus side, at least the rains stopped over there :o)
the next 3-4 weeks will be interesting.

hold in my book, looking 12 -14p short term, 20p plus long... imho
keeping an eye on AFE as well.

Thanks for that info. in_2_art I was getting confused to the amount of decline.

clipping from ADVFN
====
your reprt of Telegraph article is relating to the Phil Edmunds company of a similar name and nothing to do with AFG.
Headline mentioned africa gold but the correct title was in the article.

Optimist23 - 12 May'04 - 19:02 - 3287 of 3295


African Gold

The Financial Services Authority is looking into the placing of shares in Central African Gold, the mining company brought to Aim in March by former England spin bowler Phil Edmonds.

http://www.money.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2F2004%2F05%2F11%2Fcnbul11.xml

----Seems to be an error here, I think the article is relating to Central African Gold which has fallen very heavily over the last few weeks
======

Does anyone know if AFG are due anymore announcements or are we in a period of 'correction' leading to more lows ?

Flinny ,
"In response to recent press comments, African Gold is near to completing due
diligence on the Konongo Gold Mining lease, which covers the northeast portion
of the Ashanti Gold Belt in Ghana, about which information was announced on 29
January 2004. African Gold expects to make an announcement about this shortly"

Azhar, thanks for that - hopefully they will strike diamonds at the same time and make us all rich !