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

Some old information:

NEWS

December 2003

Interim Statement for the Six Months ended 30th September 2003

I am delighted to present an optimistic report to shareholders. We have a new beginning. New directors and investors, men experienced in gold and in Africa, have joined us. With their guidance, advice and contacts, we intend to build a gold mining company focused on Africa.

Our focus is clear. We will invest in existing gold producers and / or late stage development projects. We anticipate that the current consolidation in the gold industry will see certain assets spun off. These will be specific targets.

We have been joined by a particularly powerful group of new investors who have bought 40 million shares for cash, and have warrants to buy a further 40 million. If these warrants are fully exercised, as I expect they will be, the new investor group will have almost 30% of the issued share capital.

Included in the investors are Stephen Dattels, Richard Hambro and Mike Beck. Three others have become non-executive directors, Oliver Baring, John Anderson and Hank Slack. We anticipate that a fourth will join us in the not too distant future. It is worth giving some background on the new directors.

Oliver Baring is Executive Chairman of First Africa Group and a consultant to UBS. He has recently retired as Managing Director of the Corporate Finance Division of UBS, where he held responsibility for both Africa and Mining. He is a former partner of Rowe & Pitman, and spent five years with the Anglo American/De Beers Group in the US, UK and South Africa. He is a member of the board of directors of Cluff Mining Plc.

John Anderson is currently the director in charge of natural resource and emerging market investments at J O Hambro Investment Management Ltd. He has been involved with mining markets, particularly those of Africa and Australia, for 35 years. He is a former partner of Panmure Gordon & Co and a former director of J Henry Schroder Wagg & Co Ltd.

Henry (Hank) R. Slack was, from 1981 to 1999, a main board director of Anglo American. He was the Chief Executive of Minorco from 1991 to 1999. He is currently a director of Terra Industries, Inc., and of Engelhard Corporation, both major corporations in the U.S.A. In addition, he was for many years a Director of Solomon Brothers, Inc. and, more recently, of SAB Miller.

There is no doubt that these men have the skills, the experience and the contacts to turn African Gold into a significant gold mining company.

In recent years our mining activities in Zimbabwe have been reduced to a shadow of their former size. We continue to operate our one remaining mine, the Inez mine in Zimbabwe, on an intermittent basis at a marginal level of activity. In the 6 months to the end of September 2003, we lost 6,000 on our Zimbabwean activities. There will be a bright future for gold in Zimbabwe, but not just yet. Inflation at over 700 per cent annually makes a mockery of all normal commercial rules.

Finance

We are financed for the immediate future. The 400,000 raised from the new investors and the 100,000 raised from clients of Rowan Dartington, our stockbroker, will be used primarily to fund analysis and evaluation of new gold projects. It should be noted that the funds raised recently do not appear on the balance sheet as they were raised after September.

Future

The future is bright. Gold is in the limelight. The price has further to run. We have the people and the money and we believe we will get the projects, to create an exciting, profitable future. I look forward with great enthusiasm to 2004.


John J Teeling

Chairman

Price 7.25-7.75 pence now.

Price 7.25-8 pence.

Price 7.5-8.25 pence. Back to unchange for the day, remarkable. News must be imminent.

Correction 7.75-8.25 pence now, up 1.5%. This is after being 20% down earlier.

Was that 350k a sell or a delayed buy?

LONDON (AFX) - African Gold PLC said that in response to speculation in the
market including press comments, shareholders should note that the board is
actively pursuing a number of new gold ventures in Africa.
"A detailed announcement will be made when due diligence is completed," the
company said.
It added: "We are also considering how best to structure the board and
management to take advantage of the skills, experience and contacts of our
directors as well as to capitalise on the available opportunities."
bam

The 350,000 trade at 6.88 pence was indeed a sell. However, we have seen larger buys this week. Not a problem really.

Should get the blockbuster announcement from the company very soon now.

In the meantime, MMs may pull the price down like this morning, was 20% down, ridiculous, just took the opportunity to add.

Good times to look forward to.

African Gold PLC
29 January 2004

Contacts:

John Teeling, Chairman Tel: +353 1 8332833
Jim Finn, Director Tel: +353 86 2581178
Oliver Baring Tel: +44(0) 207 654 5588

29th January 2004

News Release

1. Ashanti Gold Belt Option

2. Chief Operating Officer Appointed



Ashanti Gold Belt Play

African Gold has taken a 90-day option on the Konongo Gold Mining lease, which
covers the northeast portion of the Ashanti Gold Belt in Ghana. The fully
permitted mining lease is 125 sq. km. and covers 20% of the strike length of the
Ashanti Gold Belt.

The Directors believe that there is outstanding potential in the Konongo lease.
A shallow resource of 860,000 ounces of gold at 2.33 g/t has already been
defined by over 1900 drill holes. This resource is likely to grow substantially
from drilling at depth and from extensions of the existing operations.

Metallurgy is good and mine infrastructure including roads, buildings, and water
supply is excellent. There is a CIL processing plant on site

A detailed due diligence is underway which will cover not only Konongo but some
adjacent prospects which are also on offer to African Gold.

New Executive Appointment

Adrian Lungan has joined the management team where he will function as Chief
Operating Officer, reporting to the existing board and executive. Adrian has
over 20 years first hand gold experience and has worked for major world gold
companies, including Placer Dome and Newmount Mining. In recent years he has
been a senior executive with two emerging Canadian gold mining companies. Adrian
is already on the ground in Ghana.

John Teeling, chairman, commented: The fabled Ashanti gold belt is an ideal
place to begin building African Gold into a significant producer. With a mining
lease in place, good infrastructure, mine buildings onsite and almost 1 million
ounces outlined, Konongo can be in production within a year. Adrian Lungan is
joining African Gold at an exciting time. Not only is he leading the due
diligence on Konongo but he is examining a series of other gold projects in
Africa brought to the board by directors and investors.

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


www.africangoldplc.com

Up to 20p then a placing at 8p to bring price down to 12p again.
Or I am I just being cynical

This was has real potential. hopefully upto 20p by next few days !!

Having mentioned these last friday, I would like to mention these again now. These have already doubled in a week and will double again very soon.

News on 3 more mines yet to come very soon.

From UK analyst.com

At last our predictions about African Gold are starting to be vindicated. The company announced that it has been granted a 90 day option to buy the Konongo lease in the Ashanti belt in Ghana which already has a proven resource of 860,000 oz after only preliminary exploration. African also said that it could take on neighbouring areas and it has appointed industry heavy-hitter Adrian Lungan as its COO. We continue to maintain that in due course Cannacord will arrange for AfGold to buy 4 mines - this is just the first. We must apologise however for suggesting that the company will be undertaking a placing at 8p. It will be at 9p. African's shares jumped another 3.125p to 13p and are heading for 20p according to the sources who first put UK-Analyst onto this stock when it traded at sub 5p.

Price ticked up to 13-13.75 pence now.

Price ticked up to 13-13.75 pence now.

Price 13.5-14.0 pence now, should be seeing larger delayed buys coming through as delayed later.

Delayed BUY for 177,000 shares at 13.5 pence reported.