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

11.5-12.5 pence, treeshake??? These prices are cheap.

sorry cobra should have read penny share punter not trader

11.5-13.0 pence now.

Medium term investor, been holding these for the last five weeks, first higlighted these here when they were at 6.25 pence to buy.

LOok at the reserach on this thread, news on 2 sites is still due, which will have the biggest potential.

2*150,000 buys reported around 12.5 pence and a 100,000 buy. Three good buys got the offer price up from 12.5 pence to 13 pence.

Price 12.0-13.5 pence.

With the new shares admitted to the market today the price is quite volatile.

Uk Invest:

Small Caps, AIM and Ofex:


As we have predicted it would, for weeks and weeks, African Gold announced a placing at 9p to raise 2.44 million pounds and that saw its shares ease back by 0.375p to 14p since the news was pretty much discounted. With gold still trading higher and more deals in Africa to be announced the word in Dublin is that 20p is still very much on the cards.

Investtech Analysis after yesterday's close (12.5 pence mid-price):

Positive Candidate (Medium term) - Feb 20, 2004
Has risen 1932% since the bottom on 7 Apr 2003 at 0.63. Is within a rising trend. Continued positive development within the trend channel is indicated. The stock has support at p 2.00. High risk.

Neutral (Short term) - Feb 20, 2004
Has risen 747% since the bottom on 7 Oct 2003 at 1.50. Has broken the floor of the rising trend, which indicates a weaker initial rising rate. The stock is approaching the resistance at p 15.00, which may give a negative reaction. The average difference between the lowest and highest price of a month is 60%. The risk is therefore high.

Neutral (Long term) - Feb 20, 2004
Has risen 1932% since the bottom on 7 Apr 2003 at 0.63. Has broken through the ceiling of a falling trend channel. This indicates a slower falling rate initially, or the start of a more horizontal development. The volume balance is positive and strengthens the stock in the short term. The stock has support at p 3.00. The average difference between the lowest and highest price of a month is 60%. The risk is therefore high.

A Continued Strong Bull Market


The Gold Report
February 18, 2004


www.theaureport.com



If the experts are right, the recent corrections in the major markets, including gold, may soon run their course. Key indicators point to a continued strong bull market, for both gold and silver.


Gold has remained in a short-term correction since breaking below $420 on January 15th, stated James Turk in the February 9 issue of The Freemarket Gold & Money Report. It appears that the correction has just about punched itself out, which is an observation confirmed by golds strong price advance this past Friday.


Pamela and Mary Ann Aden, authors of The Aden Forecast, believe that the current correction is a technically moderate decline and wont last much longer. But even if gold falls further, which it could over the next month or so, itll remain bullish above $365. Then once this weakness is over, itll likely continue up to higher highs


The recent correction in gold prices was normal and healthy, say the Aden sisters, who also noted in the February issue of their newsletter that the major trends affecting the markets remain intact. Corrections within the major trends will happen from time to time when a market goes too far, too fast, like a rubber band thats been stretched. Remember, no market goes straight up or straight down and what were seeing is completely normal.


In a mid-month update, the Aden sisters noted that the U.S. dollar had just fallen to a new low and if it stays in new low territory, it's headed lower. This too is a positive sign for gold.


Indeed, trends in world currencies continue to bode well for gold, says Turk, who recommends investors continue to minimize their exposure to the US dollar and maximize their exposure to gold, and to a lesser extent, the euro and Swiss franc. Turk goes so far to as to say that the worlds monetary system is broken, and its only a matter of time before it blows up.


For this reason, if you are holding euros and Swiss francs, or any national currency for that matter, your money is at risk, Turk warns. And while it is of course prudent to diversify risk by holding different currencies, it is becoming increasingly less prudent to hold fiat national currencies. The alternative is to hold tangibles of all sorts, and particularly gold, the most liquid tangible of all.


Turk also likes gold stocks, which he believes are still in a bull market, even though they have become over-bought on a short-term basis. I continue the same policy I have been recommending since turning bullish on these stocks in October 2000 I recommend that we continue accumulating them, month in and month out. From a long-term perspective, my recommended mining stocks are still good value, . . .


Robert Bishop, in the February 8 issue of the Gold Mining Stock Report, offers a similar opinion. The stocks, it seems to me, are trying to find their bottoms in this range, and thats when I want to be spending money on gold stocks.


Or silver stocks. Silver is poised to outperform gold this year, according to the Aden sisters. Right now, its due for a downward correction which could drive the price down as low as $5.70. Major support is at $5 and we recommend buying silver during weakness.


Turk, who agrees that silver will continue to outperform gold this year, expects an upward explosion in the silver price, taking silver to the $10 area. Dont let a short-term correction take your eyes off the potential for much higher prices, he says.

***

Special comment on gold

By Peter Grandich
February 17, 2004

www.grandich.com



Special comment on gold I believe the latest commitment of traders report confirmed the single most bullish factor going for gold-strong physical buying. As I noted in my January 29, 2004 Special Alert (www.grandich.com/docs/alert_01-29-04.pdf), reports of strong physical buying would bode well for gold in the not-too-distant future.


Sure enough, the latest traders report showed a large scale contraction in speculative interest, yet prices did not fall as one could expected when futures traders eased up on the bull peddle. This is why yours truly remained bullish despite some nervousness by market participants when gold briefly broke below $400. The previous flash in the pan (pun definitely intended) gold rallies over the last several years lacked any sustained physical buying, especially when prices would increase by $10 or $20 dollars in a short period. The fact that prices held of late despite speculative interest declining in the futures market, is the most bullish factor going for those of us who think $500 gold is only a question of when, not if.


The gold market community will rightfully remain focus on the U.S. Dollar versus the Euro and expect gold to trade up and down with the rise and fall of these currencies, but the inevitable number one factor for a sustained run to $500 is the willingness of investors and users of gold commercially, to continue purchasing gold in significant quantities in the physical market. Theres nothing on the horizon to suggest they wont.


Mining Shares Last Spring, a very large private equity fund manager from Texas came into my life. He sought my insight into the metals and mining shares arena. Based on the size and success of his own fund management, I should have been seeking his advice. Never the less, I began to share my thoughts with him and introduced him to several companies. He has since become a major player in the junior resource game and is now courted by the top players, especially in Vancouver (I told him he must count his fingers after every meeting).


I mentioned this because it was he who painted a scenario months ago, that as each day passes; I believe its becoming more evident. Simply put, he believed the U.S. stock market would rally longer and higher than most thought at the time (yours truly included), which would give cause to a worldwide economic uplift, that in turn, would lead to an incredible boom in base metal prices. Because of this, he has been purchasing twice as many base metal plays versus gold and silver plays. While he believes gold will rise during this period, it will trail the gains of copper, nickel and other base metals until the stock market peeks- a point he sees in 2005 and not before. Then, he believes gold will take over as all of the bearish fundamentals he and I agree exist, will come to the forefront on Wall Street.


Its very hard to find fault in his outlook so far. I believe its good advice to at least make sure in the junior resource arena, we have at least as many base metal stocks as precious metals. I also believe after a recent no-bid environment, junior resource stocks are about to start a run that can come close to last years speculative rally.

Special Note Of Interest Weve published a special commentary on Cycles by David Chapman of Union Securities. I believe its one of the more accurate pieces I have read on cycle work in a long time. Please go to www.grandich.com/docs/alert_2-13-04.pdf

***

Grandich Publications, LLC.
P.O. Box 243
Perrineville, NJ 08535
www.Grandich.com
phone 732-642-3992
email Peter@Grandich.com

Short Term Commentary



Watch out for price pullbacks, since levels under 14.56 can be opportunities to enter long in the market, when the trend slope at its highest levels.

http://uk.biz.yahoo.com/tech/a/afg.l.html

Medium Term Commentary



Medium term price trend for African Gold is still bullish this week. This stock overperforms the FTSE 100 INDEX by 272.42 %. Volatility has been increasing during last month. Be alert to the proximity of support 12.25 , and a possible rebound from this level. Daily and weekly technical indicators, alert of the proximity of a market TOP. Keep track of possible bearish divergences on RSI that will confirm this scenario.

http://uk.biz.yahoo.com/tech/a/afg.l.html

If you look at the final candle on the 3 month chart you will notice a "Harami Cross". Which if it follows the accepted rules shows a reversal. The MM's should start testing the upper limits now, and that usually means a mark up in price. Since the trend over the last few days was a shallow dive, we should see a pick up in demand.

http://www.leavittbrothers.com/education/candlestick_patterns/bull/haramiX.cfm