I don't believe that the mentioned "African Gold Zimbabwe" is AFG, but the article does demonstrate rapid resurgence of E&P in Zimbabwe:

Mining Giants Plan Massive Diamond Prospecting

The Herald (Harare)

January 22, 2004
Posted to the web January 22, 2004

Harare

MINING giants, De Beers Zimbabwe Prospecting Limited and Circle Three Mining Corporation are proposing a massive diamond prospecting project that will see the two companies prospecting for the mineral in Gweru, Harare, Bulawayo and Kadoma mining districts.

The two mining companies intend to prospect for diamond in areas covering a total of 448 180 hectares.


Another company, African Gold Zimbabwe, has also undertaken to prospect for gold on two areas measuring 120 550 hectares within the Harare and Gweru mining districts.

De Beers Zimbabwe Prospecting Limited, Circle Three Mining Corporation and African Gold Zimbabwe have applied to the Mining Affairs Board for an exclusive prospecting order for 12 areas under the four mining districts.

In the latest issue of the Government gazette, the Mining Affairs Board said De Beers, Circle Three Mining and African Gold Zimbabwe intend to prospect for diamonds and gold over an area of approximately 568 730 hectares from the three areas.

"The applicants intend to prospect for diamond within the areas, which have been reserved against prospecting pending determination of this application.

"Prospecting authority is sought upon registered base mineral blocks within the reservation," read part of the notice.

One of the two diamond prospecting projects to be undertaken by Circle Three Mining measures 65 000 hectares and is bounded by a line commencing on the Zimbabwe-Zambia border approximating five kilometres.

All areas, which have been earmarked for prospecting are within the 15 000 hectares and 65 000 hectares range and are mostly in the traditional mineral bearing areas of the country.

The proposal to prospect for diamond in the country comes at a time when the US$41 million Murowa Diamond Mine has started to operate following the successful relocation of 141 families which were on the mining site.

Mining is one of the sectors which has been depressed over the last five years but some of the players in the industry have said investors should look at non-traditional minerals.

An example that is often given is that of platinum, which is fast becoming the world's most lucrative mineral.

The mining of diamond in Zimbabwe is also fast gaining pace and it is expected that some of the mining projects would create a lot of employment.

Relevant Links

Southern Africa
Mining
Zimbabwe

Investtech analysis:

Positive Candidate (Medium term) - Feb 9, 2004
Has risen 2060% since the bottom on 7 Apr 2003 at 0.63. Is within a rising trend, which indicates a continued growth. RSI is, however, overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The stock has support at p 1.50. The average difference between the highest and lowest price of the month is 55%. The risk is therefore high.

That 1,000,000 unknown deal looks like a SELL to me. What do you think?

Don't really know but I have seen some very large buys so doesn't really bother me what it is.

There was a 250,000 buy at 12.7 pence this afternoon, appeared in the sell column. In addition, a 144,000 buy at 13.25 pence reported after close.

Volume was very low and the MMs not surprisingly tried to get some stock back for the impending good news.

Should easily recover tomorrow with volume back up and would expect another good news release on thursday or friday.

9th Annual Investing in African Mining Conference
INDABA 2004
February 10-12, 2004
Cape Town International Convention Centre
Cape Town, South Africa

The INDABA conference is one of the world's largest and most important conferences on mining issues. Held annually, the Indaba conference is one of the most prestigious in the mining industry, attracting nearly 2000 high-level participants from international mining companies, the global investment community, major consulting firms, exploration companies, suppliers of mining equipment and services, and members of official delegations from more than 20 African countries. It provides up-to-date information on mineral resource policies from African countries and on new trends and opportunities in the industry. It is Africa's most important mining event and the world's leading gathering of global policy makers and international finance personnel. INDABA introduced the international investment community to mining interests throughout the African continent.

Organized by International Investment Conferences, a world leader in natural resource investment conferences, this professional conference unites corporate and institutional investors, natural resource explorers and producers, government representatives and industry specialists. Admission is limited to professional investors, industry and governments.

More than 25 African ministries have participated in the past. The event continues to bring increased mining investment in Africa and has also been successful in terms of new business opportunities for Canadian companies.

Held this year at the new Cape Town International Convention Centre, this three-day conference offers an expanded program with a full schedule of presentations, panels and plenary sessions.

South Africa is one of the most diverse and enchanting countries in the world. Exotic combinations of landscapes, people, history and culture offer a larger-than-life experience for the visitor in search of a truly unique and inspiring experience. The Arabella Sheraton Grand Hotel Cape Town is interlinked to the Cape Town International Convention Centre (The new home for INDABA) and is situated at foreshore in the heart of Cape Town. Many of the world's scenic wonders are within a day's drive of the city centre.

Additional information is available, in English only, at the International Investment Conferences web site.

Investtech:

Positive Candidate (Medium term) - Feb 10, 2004
Has risen 2020% since the bottom on 7 Apr 2003 at 0.63. Is within a rising trend. Continued positive development within the trend channel is indicated. RSI is, however, overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The stock has support at p 1.50. High risk.

Weak Positive Candidate (Short term) - Feb 10, 2004
Has risen 960% since the bottom on 30 Sep 2003 at 1.25. Has broken through the floor of a rising trend channel. This indicates a slower rising rate at first, or the start of a more horizontal development. RSI is overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The stock has support at p 4.10. High risk with an average difference between the lowest and the highest price of the month of 56%.

Up 1p to 13-14 at the open and you just know that the MM isn't publishing any of the trades that are going through, this is disgraceful. They will all show as sells in a couple of hours so that they can fool the market and make themselves loads of money at the expense of the private investors. something should be done about this, who gains from delayed trades anyway, looks like a good day ahead for AFG though!

Excellent volume today and 5*100,000 buys have already been reported. Lines of 100,000 buys have gone through at 13.5 pence.

4*50,000 buys have come through in the last hour, other decent size buying has also come through.

Price quite stable at 13-14.5 pence, up 7.8%.

More good buying coming through.

Do you have any idea when the news is coming out?

He's now selling at 14.75, is the 150 00 a buy? MM's up to old tricks again, delayin share trade publication but this is obviously ticking higher, ridiculous spread again but it seems to me that this time (unlike all the others) the MM's want to push it higher.

Anytime tomorrow or Friday judging by the days when the news has been released in the past.

The 150,000 was a sell but apart from that they have been hardly any sells today. A 250,000 buy, 7*100,000 buys and 6*50,000 buys as well as other decent size buys. The price did spike up to 14.25-15 pence at lunchtime. Presumably MMs had to raise the price to get some stock back.

Market Makers have been paying a premium of 0.5 pence on the online quoted bids. A 0.5 premium is quite a bit suggesting to myself that they are need in some stock and are execting some news soon. The same actions occured last Wednesday and then we had the good news release on the next day.

Price 14.0-15.0 pence now, offering 14.5 pence on the bid with comdirect. Suggesting to me that news is imminent and they are after stock. Worth accumalating before tomorrow.

i tried to buy more on line, but the broker (IMI) didn`t allow me to do it.

Excellent close today at 14.0-15.5 pence. The market makers were paying a 0.5 pence premium for our stock all afternoon. Even towards the close they were quoting a bid price of 14.5 pence to sell when the showing bid price was 14 pence. This bodes very well.

Exciting times ahead.

Hi ckmtang, normally one can buy atleast 50,000 shares online in this stock and more when the MMs are not after stock. Very surprise to hear that you could not buy any. Would be a good option even with any other stock to use the telephone service if you are unable to buy online.

GoodLuck.