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

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

SH.. What is a Harami Cross? What is the relation with behavior of the share price? Thanking u in advance. xmortal

Hi Xmortal, click on the above link.

Harami Cross

The Mind of a Trader
by Alpesh B. Patel

Pattern: reversal
Reliability: high

Identification
A long black day is followed by a Doji which gaps opposite the trend and is completely engulfed by the real body of the first day.
The Psychology
In a downtrend or within a pullback of an uptrend, a long black day occurs. The next days gap up comes as a surprise to the shorts who thought they were sitting on a great position the previous day. The stock closes where it opens to signify a churn day with neither the bulls nor bears showing much force after the opening gap up. Reliability of the bullish Harami Cross is low, so a strong following day is needed for confirmation.

African Gold Sponsor ....
Global Mining Forum 04
Hilton London Metropole
May 4-5, 2004

http://www.iiconf.com/london04/

WHO WILL ATTEND AND WHY?

Professional and private investors attend this annual conference to meet with Investment specialists and financiers, sophisticated private investors and fellow mining executives. The industry's most important recent developments and opportunities are presented and pursued in this highly charged professional arena.

WHO WILL SPONSOR AND WHY?

Sponsors of this conference will establish and renew relationships with European based analysts, portfolio and fund managers, investment specialists and financiers.


(Guess that means Mr T will be there !!!!
Another date to put in your diaries for possible price rises soon after !!!!

Mugabe 'suffers chest pains'

http://news.bbc.co.uk/1/hi/world/africa/3511221.stm

Mugabe's removal from the scene could boost AFG' price to a new high .

Thxs SH.

Price possibly bottomed out now at 11.5-13.0 pence.

Not quite 11.0-12.5 pence now. Should bottom out soon.

Price 11.25-12.00 pence.

Price 11.0-12.0 pence. Believe those who took part in the placing may have been selling over the last couple of days, hence the price fall.

Thanks SueHelen. You are one in a million. Where would we all be without your running commentary on this stock? Still topping up are we?

Hi there,

Added a few more today after the double bottom formation was formed. The price should start rising again now tomorrow.

Out of interest there were 7*100,000 buys reported today. Lines of 100K buys going through is a good sign.

The double bottom formation was formed as the price went back up having dipped to 10.25-11.5 pence, the previous low of 10.88 mid-price.

SAN FRANCISCO (AFX) -- April gold climbed $1.30 on the New York Mercantile
Exchange, but closed at $399.30 an ounce -- under the key $400 level for a
second session. Other metals futures ended the session on a mixed note, with
copper and platinum making modest gains, but silver and palladium logging
losses.
This story was supplied by CBSMarketWatch. For further information see
www.cbsmarketwatch.com.