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

good news this morning already. if this is the first piece of the rumoured good newsflow, then can't wait to see the effect of the rest.

African Gold gained 21.6% to 11.25p after a weekend press report that the company will this week announce the appointment of Hank Slack as chairman and unveil the acquisition of a mine in Ghana for 2.35m. Slack is the former son-in-law of legendary De Beers chairman, Harry Oppenheimer, and was chief executive of Minorco before its merger with Anglo American and has held board positions at Anglo and SABMiller.

tbrooking66,I think i've missed something but what is this newsflow?Tried usual sources nothing even on minesite.Thanks .

sorry don't want to talk up the share unduly. theres been a few pieces tucked away in the press that i've noticed over the last few months that hinted that developments were in the pipeline, but nothing came through which was concrete. maybe it was me being over excited at a 20% rise, but hopefully this may be a sign of these developments being more than just speculation.

I was thinking of selling and getting something with abit more potential,does any body have any forcasts on this share?I read on the advfn site something about debeers son in law joining as chairman and the possible acquisition of three new mines already mined.But I can't decide the potential in terms of price or whether they will dilute the shares to raise more capital.If any one can help I would very much appreciate it.

Another call for help.

SAW, I recommend you to read thru this thread as it highlights that this stock is a growth stock and the potntial will be known once the drilling results appear in the public domain. I have bought quite a lot @ 11.20 p/s and will hold on until 20p (price target on T1PS.COM)as an initial target but will depend on the drilling results.

Alot of sells going through today,is it profit taking or is there something brewing!Azhar is this 19p in a years time or short term,

African Gold PLC
19 April 2004



In response to recent press comments, African Gold is near to completing due
diligence on the Konongo Gold Mining lease, which covers the northeast portion
of the Ashanti Gold Belt in Ghana, about which information was announced on 29
January 2004. African Gold expects to make an announcement about this shortly.



In addition, and further to the announcement made on 23 January 2004 in response
to press comments at that time concerning the Board and management of the
Company, the Board continues to review the structure of the Board and management
and, should the Board feel that any changes should be made, details will be
announced when required.
--end--

SAW, Can't put any dates but would like to think in a few months.

is the rise in price due to upcoming good news?

Yes.

Or it could just be the John Teeling AFD factor time will tell.

HT.

African Gold has been a star performer lately and is likely to improved in the short to medium term. The target is 25p.

hlyeo98, where did you get the 25p short/medium target from?

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Now I think, is it a good time to purchase shares in AFG? Anyone!

T Meditator, YES, I think this is a growth stock medium/longterm as we need positive drilling results to find out whether AFG can start making plenty of money. As always DYOR.

Thank you azhar. I rekon fit for the med/long term, more slanting towards the latter.

Right anyway, I was looking for a short term blast of faith. Am wanting to blast up the ladder very quickly but just keep missing the right shares.

All for now, with all the love in the universe.

T Meditator, investors are expecting further news which has been guaranteed my the AFG management. When that comes there will be people trying to make a quick buck and they will and I think the price will stabalise around 14/15p but in the medium term i'd say at least 20p.

Really,! May have a dabble then. Rather :o .