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

Any more views it feels lonely here.

Very low volumes today, news on one more operation is to come so realistic one would want to hold these prior to the news coming.

Bit of patience required.

2 x 450,000 buys just gone thru.

They are rollovers hence they did not affect the price.

In the meantime, 10.5-12.0 pence is staying firm which bodes well.

What's 'rollovers'?

One sells and buys back the same amount of stock.

RNS Number:0561W
African Gold PLC
03 March 2004

African Gold plc announces that it was yesterday informed that, as the result of
a recent share transaction, Yewpole Limited no longer has a notifiable interest
in the Company's shares.


This information is provided by RNS
The company news service from the London Stock Exchange
END

How come some people are paying 13p p/s to buy when thw current price under 12p p/s and they are limit orders. I,m confused. Any views?

whats driving the mining stocks lower at the moment,afd,afg,afe all seems to have come to a stand still.also not too many comments on these stocks,it seems every one is waiting with patience for the good news soon.as sue says patience is required.

Talking of mining stocks, I paid for two daughters' weddings by selling shares in Cluff Mining. We were three down & one to go. Now we are told that this last wedding is to be in August Help! Which gold share to go for this time?

Investtech Analysis:

Negative Candidate (Short term) - Mar 3, 2004
Has risen 612% since the bottom on 20 Oct 2003 at 1.50. Shows a weak development within a falling trend channel. A further negative development is indicated, and there is resistance against the ceiling of the trend channel. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, however, strengthens the stock in the short term. The stock has support at p 5.00 and resistance at p 14.50. High risk.

Weak Positive Candidate (Medium term) - Mar 3, 2004
Has risen 1609% since the bottom on 7 Apr 2003 at 0.63. Is within a rising trend. Continued positive development within the trend channel is indicated. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the stock further in the short term. The stock has support at p 2.00 and resistance at p 15.00. High risk with a difference between the lowest and the highest price of an average month of 61%.

Neutral (Long term) - Mar 3, 2004
Has risen 1609% 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. Has risen strongly since the positive signal from a inverse head and shoulders formation at the break through the resistance at 2.00. The objective at 6.40 is now met, but the formation still gives a signal in the same direction. The stock has support at p 3.00. High risk.

Last Time Updated Wednesday March 3

Short Term Commentary

The market is slightly oversold and without a clearly defined short term trend. A price recovery to the 12.91 level can as well be expected.

Medium Term Commentary

Medium term price trend for African Gold is still bullish this week. This stock overperforms the FTSE 100 INDEX by 189.98 %. Volatility has been decreasing during last month.

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

Could someone tells me why afg is falling ? Do you think there is some good news coming up ?

There is news on one more operation impending. The RSI is very oversold now and the price could be being kept low before the news comes. I believe news on the last operation to be reported will be off most substantial to the company.

Other reason for the price to drop recently is that as we were notified on wednesday that Yewpole Limited has been selling recently (been holding since 1999). In addition, there may be another couple of large holders taking some profits now hence some more bigger sells have appeared on our screens this week.

What would be the impact of the good news coming up on the afg share ? Do you strongly believe the share price will reach the 20p ? I am quite doubtful about it.

It will get there but will take longer than I intially thought. The fundraising has stem the rally and the those who had a 3%+ stake have been selling over the last couple of weeks. I don't have a time frame at this moment in time until I see what kind of operation they announce with regards to the 4th site.

Tight spread, 10.0-10.5 pence.

Back to 9.0-10.0 pence. These are very cheap now.