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

Neutral (Medium term) - Mar 19, 2004
Has risen 1369% since the bottom on 7 Apr 2003 at 0.63. 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. The stock has support at p 2.00 and resistance at p 15.00. High risk.

Positive Candidate (Long term) - Mar 19, 2004
Has risen 1369% since the bottom on 7 Apr 2003 at 0.63. Has broken the floor of the rising trend, which indicates a weaker initial rising rate. The stock has support at p 3.00. High risk.

Upgraded from Neutral to Positive.

Are we ready for a correction?
March 19, 2004
When the gold price peaked in 1996, attendance at the Prospectors and Developers Conference in Toronto set a new record. That record was broken this year when more than ten thousand people showed up at the Toronto Convention Centre. Is that a sign of the top?

Gold stocks are certainly not cheap. Just this week I had a meeting with a fellow who had been bar-tending for the past few years but decided it was time to get back into the exploration business -- now that things are heating up again. I met several people in Toronto with similar stories. They were around in the early Nineties, couldn’t make it during the tough years, but now they’re back.

Many old projects that didn’t quite make it during the last cycle have been dusted off, renamed, and repackaged into new companies. Investors are eager to invest and any company that can mention the words gold, silver, copper, uranium or nickel and ‘project’ in the same sentence qualifies.

A few weeks ago I made the point in my newsletter that recent financings have become rather extreme. Looking at the amount of money being raised in comparison to the quality of the projects, and the terms of the financings that are available, it appears investors are no longer concerned with the return of their capital, never mind a return on their capital. All they care about is not missing the next hot deal.

These are all signs that we have to be more cautious. I don’t know if Warren Buffet actually said this or not, but he is credited with saying investors should be brave when others are scared and scared when other are brave. Well, most investors in the market today seem very brave. If you feel like sending me an email explaining just what a sissy I am, or chastising me for not having any “faith” in the gold bull market, then you’re one of the brave I am talking about.

I believe gold is money, and its price is a function of its role as money. I also believe that we are likely to see gold trade over a thousand dollars an ounce before too long (see previous columns). But I also think the market is getting ahead of itself judging by the quality of the deals I am seeing and the prices they command.

So what, you may say. So what if the gold stocks appear expensive. If the gold price doubles from its current level then all these stocks are dirt cheap at their current prices, and they are all likely to increase ten-fold from where they are now. Perhaps, but not necessarily.

If you look at last week’s chart you’ll notice that the actual gold price in constant 1990 dollars is currently above the theoretical gold price. That indicates gold is currently overpriced (if we compensate for the US dollar’s exchange rate since 1990). It also means that for gold to increase significantly from here the US dollar must devalue.

Ultimately the United States has to balance its trade account. That means the currencies of China, Japan, Canada, Mexico, Venezuela, Korea and Europe -- the United States’ largest trading partners -- are the ones against which the dollar is most likely to weaken the most. That’s not to say the dollar will not decline against currencies such as the South African rand or the Australian dollar. It is very likely that the dollar will be weak across the board.

As the dollar weakens, almost everything the United States imports will cost more in dollars. Metals, oil, uranium and gold will increase in dollar terms because their prices are set on international markets and not on domestic markets. The prices of these commodities, and of gold, are therefore a function of exchange rates.

If the gold price in other currencies does not increase nearly as much as it does in US dollars, then gold mining and exploration stocks may well be over-extended since most of the companies operate internationally, outside the US.

The best place to be invested for leverage to the gold bull market, which is really just a dollar bear market, is the good ol’ US of A. The problem is finding quality companies at reasonable prices to invest in. I have identified a few (that I own and regularly discuss in my newsletter) but, given that most junior exploration companies (predominantly what I invest in) are quite expensive at the moment I have been looking for alternative places to put capital.

Since the world is not going to use less energy in the future I am quite interested in that sector. I already own a few uranium exploration companies, but that market is both small and has become expensive; it seems like every investment banker I meet wants to do a uranium deal. That notwithstanding, uranium may actually be one of the better commodity plays, especially given Cameco’s (world’s larges uranium producer) predictions about the uranium market.

There is a real push in the United States to find alternative energy sources, especially renewable forms of energy. One kind in particular seems very attractive: geothermal power generation. I have devoted almost a decade to understanding mineral exploration; geothermal development is similar to mineral exploration in many respects. Even the potential rewards of proving up a viable geothermal project are comparable to finding an economic mineral deposit.

There is a small Canadian company developing a geothermal project close to the mining operations in north-central Nevada. The project is close to infrastructure, the mines need power, Nevada has many existing geothermal power plants – so we are dealing with proven technology – and there is a demand for renewable energy.

I will discuss this company in today’s email to subscribers. If you’re interested in finding out what I personally invest in go to www.paulvaneeden.com and subscribe.

Paul van Eeden



--------------------------------------------------------------------------------

Paul van Eeden works primarily to find investments for his own portfolio and shares his investment ideas with subscribers to his weekly investment publication. For more information please visit his website (www.paulvaneeden.com) or contact his publisher at (800) 528-0559 or (602) 252-4477.

This article expresses the opinion and views of Paul van Eeden. While every attempt is made to ensure the accuracy of information presented, nothing can be guaranteed. Paul van Eeden does not accept responsibility for any errors or omissions.

2004 All rights reserved. No part of this website may be copied or distributed without Paul van Eeden's written permission.

http://www.kitco.com/weekly/paulvaneeden/mar192004.html

This Table is not wholly accurate, because some of the resources are guesstimates, but it should serve the purpose:

Mine Resource in Oz. (Au)
Inez 200,000
Konongo 860,000
Akrokeri 1,000,000?
Ahanta 1,400,000
A.N.Other? And reputedly the largest? 2,000,000?
Total 5,460,000?


With conservative estimates in excess of 5,000,000 ounces at $400 per oz, our little tiddler of a company has over $2,000,000,000 of gold potentially to mine.

SAN FRANCISCO (AFX) - Airline stocks lost ground this week after United
pushed back its plans to exit bankruptcy and Delta warned it will lose more than
expected.
The Amex Airline Index fell nearly 8 percent over the week. Delta Air Line's
announcement late last week that it expects to lose $400 million in the current
quarter, up from prior projections of $300 million to $350 million soured many
on the stock. It lost 15.6 percent for the week.
In the middle of the week United Airlines delayed expectations for its
emergence from bankruptcy protection from the end of June to later in the
summer.
Chip stocks also had a bad time despite positive comments on the sector from
several analysts. The Philadelphia Semiconductor Indexlost nearly 5 percent
this week. Upgrades on the sector didn't register with investors, who sent down
chip stocks along with the overall market. A restatement from Lattice
Semiconductor on Thursday also hurt the sector.
The Amex Networking Index tumbled 4 percent over the week, with 3Com one of
the most notable decliners after it reported a wider third-quarter loss and
declining revenue on Thursday.
Investors looking for a safe haven investment in the down market turned to gold
stocks. Gold futures rallied all five days as people concerned about inflation,
terrorism and the weak dollar pumped up precious metals. The Philadelphia Gold
& Silver Index rose 2.9 percent this week, the CBOE Gold Index gained 2.1
percent and the Amex Gold Bugs Index climbed 2.8 percent.
This story was supplied by CBSMarketWatch. For further information see
www.cbsmarketwatch.com.

Thanks Sue....... Positive drilling results and feasibility studies will do the job for AFG. Lets hope this are carried out asap.

Even more good news Xmortal, we have some press mention today which should help the price rise even more next week.


AFG had a brief mention in todays Express's Market Report.It said:
"African Gold struck it 1p richer at 9 3/4p on rumours of a positive announcement"

Nice one Sue, lets hope the rumour takes the shares higher up on Monday!! Thanks

Yahoo finance (http://uk.biz.yahoo.com/tech/a/afg.l.html) 20/03/04
Short Term Commentary
Watch out for price rallies over 9.39 , since can be interesting levels to enter short in the market.

HI sue I have found http:https://www.tips.com/default.asp, once You are there wich of the 100 Investment links do you choose?!?

HI sue I have found http:https://www.tips.com/default.asp, once You are there wich of the 100 Investment links do you choose?!?

RISING ATLAST.DOES ANYONE KNOW OF ANY NEWS FILTERING THROUGH?

Price up to 10.0-11.0 pence, up 7.6%. Looks good for futher rises rest of the week. Volume returning.

SAW:

Possibles...
Fourth site to be disclosed with Initial estimates on resouce?
Announcement on the 90-day option on the Konongo lease?
Firming up of Akrokeri's resources/reserves?
Date for commencement of production of any of new sites?


All are in the frame.

Gold up again today, at $414.60, up 2.50.

http://www.kitco.com/

Gold at $415.50, up +3.40.

Beer, mining and gold likely to hog limelight this week
March 22, 2004

By Reuters and Bloomberg

Johannesburg - Beer and mining are expected to hog the limelight on the stock exchange this week, when SABMiller releases a trading update and Anglovaal Mining gives its first-half results.

Gold stocks, a mainstay of the bourse, might also be popular in the holiday-shortened week if the bullion price stayed around $410 an ounce, fund managers said.

"Some resource counters like Anglo American and BHP Billiton could bounce back from oversold positions," said Neels van Schaik of PSG Fund Management.

"If the gold price keeps at these levels, we could see a rise in gold shares, driven by those listed in New York, including Gold Fields and Harmony," he added.

Investors are on holiday today.

SABMiller is due tomorrow to issue a trading statement before it goes into its closed period ahead of full-year results on May 20.

Fund managers said the focus would be on the performance of Miller in the US and the effect its Chinese business was having on its bottom line. SABMiller makes up more than 5 percent of the FTSE/JSE Africa all share index.

On Wednesday, base metal miner Anglovaal Mining releases its interim results to the end of December. It expects earnings to be more than 30 percent lower than in the same period a year earlier, hurt by rand strength and new accounting standards.

Although analysts do not expect too many surprises, they will be scrutinising the results for cash flow, with one asset manager expecting a deterioration.

Later on Wednesday, the spotlight shifts to economic data when Statistics SA releases CPIX figures for February and the Reserve Bank issues its quarterly bulletin. On Thursday, producer inflation data are due for release.


Investors in stocks sensitive to interest rate, such as banks and retailers will keep a close eye on the data.

Economists said inflation was expected to have nudged higher in February, confirming the cycle had turned upwards and making an interest rate hike later this year more likely.

Gold shares were the bright stars in a lethargic market on Friday, as the precious metal's safe haven appeal received a boost from renewed global concerns.

The gold price was buoyed by news that police in Washington were searching all the city's schools after receiving a bomb threat via the internet.

AngloGold added 0.5 percent to R277.40 and Gold Fields trotted 1.1 percent higher to R81.90. Gold was up $1.25 at $412 an ounce in afternoon London spot trade.

Anglo American fell 2.4 percent to R158.40 as the rand gained against the dollar, although Anglo American Platinum edged up 0.6 percent to R303.93. BHP Billiton dropped 2.4 percent to R60.25.

The all share index closed 0.9 percent lower at 10 815.99, even though gainers edged out losers 98 to 97. The Top40 index slid 0.95 percent to 9926.44 points.

Shares in banking group Nedcor closed in the black after falling more than 8 percent to a new seven-and-a-half year low of R55 on news that the group had priced a $5 billion rights issue at R45 a share, well below what investors had expected.

The bank's shares closed 0.8 percent higher at R60.11.

Gold at $416.40 now, up 4.30.

Gold breakout, $417.20, up 5.10. Bodes well for AFG.

Gold, $417.80, up 5.70.

Gold, $418.00, up 5.90.