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

mm are going mad today

This has got to be the one of the craziest days in AFG's history. Up 11% down 5%, up 22%, what on earth is going on? John50, I think you may well be right. probably finish up where it started!

I think there is more good news on the way with annual report

Rumour / fact has it that AFG have been shorted to the nth degree in Berlin. Some say that this Berlin Shorting is fiction, others fact. Whatever the truth the drilling report looks positive, seems to be considered good news. Hopefully if this type of shorting has been prevalent in AFG, the positions will be closed and we will see a dramatic increase in the SP.

Hope so PH.

African Gold PLC
27 September 2004

Contacts:

John Teeling + 353 (1) 833 2833
Adrian Lungan +233 (24465) 6485



27th September 2004



PRESS RELEASE
AFRICAN GOLD PLC the AIM listed gold miner is pleased to
announce the following:



Significant gold mineralisation intersected in initial drill holes at Owere/
Konongo, Ghana.



Diamond drilling at our Owere/Konongo gold project in Ghana has
intersected significant zones of high-grade gold mineralisation.



The best intersections are from Hole OBAPC-05 where 12.06g/t Au was
intersected over a width of 16m and Hole OBACP-02 where 10.90g/t Au was
intersected over 12m.



Drilling confirms that substantial widths of highly-mineralised wall rock
exist in the mine workings.



Results of all holes have confirmed the presence, continuity and grade of
mineralisation in just one of nine such ore-bodies.



The Company is pleased to announce the results of initial drilling of the
Obenemase ore body at our Owere/Konongo Gold Mine in Ghana.



Hole No. Dip From(m) To(m) Interval(m) g/t Au

OBAPC-001 -47 134.0 137.0 3.0 5.68
144.0 145.9 1.9 5.63
190.0 192.6 2.6 3.55
OBAPC-002 -50 108.0 120.0 12.0 10.90
OBAPC-003 -45o 103.0 109.0 6.9 3.06
115.0 120.0 5.0 6.03
127.0 129.0 2.0 4.17
OBAPC-004 -53o 133.0 138.0 5.0 5.08
OBAPC-005 -46o 70.0 79.0 9.0 2.79
107.0 123.0 16.0 12.06






An initial thirty-hole drill programme is designed to test the grade and
continuity of gold mineralisation remaining in the wall rocks marginal to just
one of nine ore bodies at Owere/Konongo. The assay results obtained are from HQ
drill core and are the first received to date from Analabs in Ghana. In the
1930's, underground mining at Owere focused entirely on high-grade, gold-rich
quartz veins and the sulphide hosted high-grade, gold mineralised host rock was
left behind.



Previous drilling indicated the potential of the wall rocks to host an economic
ore body and the current programme is focused on converting inferred and
indicated gold ounces to measured ounces. An earlier study indicated a resource
of over 900,000 ozs in the area.



Drilling is ongoing and further results are expected in the very near future.



John Teeling co chairman said 'These are excellent results and fully support our
belief that we can turn the 900,000 oz indicated gold resource into a
significant gold mine.'







African Gold is an AIM listed company (AFG) with gold mining interests in Africa


www.africangoldplc.com

LONDON (AFX) - UK mining company African Gold PLC will be taken over by unlisted African peer Mwana Africa Holdings in the next few days, according to the Sunday Telegraph.

Citing sources close to the deal, the paper said the reverse takeover would create a group with a market capitalisation of 60 mln stg. African Gold is worth just 15 mln stg at current prices.

What will this r/to deal mean for ex. s/holders if new company unlisted ,any views

Here's a link to the Telegraph article mentioned above:

Telegraph Article

Surely this is some good news at last?

from Sunday Telegraph - 11 Sept 05 - Reverse Takeover

Mwana Africa Holdings, a mining company led by a Congolese prince, is expected to join the Alternative Investment Market in the next few days through a reverse takeover of African Gold, the listed group.
African Gold, a mining and exploration company, is jointly chaired by Oliver Baring, the former UBS investment banker, and John Teeling, the veteran Irish resources entrepreneur.
African Gold currently has a market capitalisation of just 15m, but the combined group will be worth around 60m when the value of Mwana's mines is taken into account.
The combined group will retain its joint chairmen but the executive team will be entirely African, led by Kalaa Mpinga, the Congolese-born chairman of Mwana. The ambition is to create a mining group that will focus on picking up smaller projects across Africa but that will be financed largely from London.
"African management can do business in some places in Africa that other people can't," one executive close to the company said on Friday. "They have very significant plans for developing mining projects around Africa but they'll be accessing funds as required in London."
Mpinga has emerged over the past few years as a leading African businessman with a network of contacts across the southern part of the continent. He is on the board of GijimaAst, the South African technology company, and sits on the board of Group Five, the South African listed construction group, with Baroness Chalker.
Mpinga, who is from a well connected Congolese family, went to university in the US and worked for Bechtel, the engineering services group, in San Francisco before joining a subsidiary of Anglo American, the London-listed mining giant, in 1991.
He became an executive director of Anglo responsible for cross-border development before leaving to set up Mwana Africa - which means sons of Africa - in 2001 with the backing of investors from Kenya, Zambia, Zimbabwe, Angola and South Africa.
Mwana has since made several acquisitions of working mines, including the Freda-Rebecca gold mine in Zimbabwe, which it acquired from AngloGold Ashanti in September last year. The mine has reserves of 300,000 ounces of gold and is close to the Bindura nickel mine, which the company bought from Anglo American the year before for $8m (4.4m).
Mwana is thought to be in negotiations with Gecamines, the state mining corporation in the Democratic Republic of the Congo (DRC), about launching nickel mining joint ventures in the DRC and is believed to have mining and prospecting interests in a number of African countries.
"It is likely they will pick up a number of smaller Anglo American projects that the company no longer sees as core," an executive close to the deal said.
He added: "Getting to this stage has taken ages because we've had to get legal opinions on Mwana's licences in multiple African countries including Zimbabwe and the DRC. There are 14 different advisers working on this but they are now all signed off."

Any views on the above. how will this affect the sp?

African Gold PLC
12 September 2005

African Gold Plc

Response to press speculation

London, 12th September 2005 - The Board of African Gold Plc ('African Gold') has
noted the article in yesterday's Sunday Telegraph speculating about a possible
reverse takeover of Mwana Africa Holdings. The Board of African Gold can confirm
that they are in advanced negotiations with Mwana Africa Holdings (Pty) Ltd, a
privately held African mining company, which may lead to an offer being made for
the company. The Board should be in a position to make an announcement shortly.


http://www.companyannouncements.net/cgi-bin/articles/200509120700501182R.html

hi folks

what is really happening now. the share was suspended which I understand why but I expected to be for 1 or 2 days. How long is it going to remain suspended and what do you think it will happen after the suspension time.
any ideas
manythanks
seb

seb190774

The Sunday Telgraph said the combined group will be worth round 60 million. I believe this only takes account of the mining operations currently within the AFG and Mwana stables BUT doesn't place a value on any of its future (significant) prospects. With licences in multiple African countries who knows where this company may go. Do not under-estimate Mwana's CEO and the high level contacts he has.

Also, AFG must be fairly close to establishing a pre-feasibility reserve figure from its Konongo exploration site. This together with the other big unknown - Banka!!! What potential does this hold?

I am of the opinion that if/when this deal goes through the combined impact of both operations on the share price could be major.

African Gold confirms offer talks
Shares in African Gold were suspended on Monday after it confirmed it was in advanced talk over a reverse with Mwana Africa Holdings, the privately-held African miner.

A deal would allow Mwana, led by Congolese chairman Kalaa Mpinga, to gain a UK listing and create an Africa-focused mining group financed from London.

GREAT NEWS...the impact will be major

so when the share re-open again?

Being ignorant here, but if the company's taken over, where would that leave us shareholders ?

hi
does everybody know how long still the share has to be suspended ? And what would be the options afterwards ? Could anybody enlighten me about what is going to happen and about when ?
sorry for my ignorance

many thanks

i was told end last week by african gold it should be within the next ten days

to israelgold
thank you very much for the information

seb