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

more on Gold:

Gold to hold above $400 this year and next
Mon 19 July, 2004 13:24



LONDON (Reuters) - Gold prices are seen holding an average above $400 an ounce for the foreseeable future as the dollar stays weak and world security worries keep big investors hedging their bets on where money is safe, a Reuters poll shows.

The global survey of 24 analysts pointed to an average gold price of $404.50 a troy ounce in 2004, up 11.2 percent on 2003. Gains were then seen being pared to an average for 2005 of $402.50, up 10.6 percent on the 2003 level of $363.83.

Analysts' predictions for 2004 were down around 3.5 percent compared with a similar survey conducted in January as expectations of broader investment flows had disappointed.

"2004 promised so much and simply failed to deliver," Ross Norman of TheBullionDesk.com said.

Gold's broad uptrend started in 2001, when the metal was near 20-year lows.

The advance gathered momentum as dollar weakness, global security worries and producer buy-backs of reserves in the ground that they had sold on forward markets pushed world prices to a 15-year peak in early January 2004 of $430.50.

Producer buy-backs have since slowed, but the market should remain firm as the spotlight concentrates on the dollar, where weakness makes gold less expensive for holders of other currencies.

"We are dollar bears, despite the fact that the second quarter of 2004 saw the dollar improve...We remain bullish on the gold price -- tempered to be sure," economist Martin Murenbeeld said.

"Issues such as debt -- government and household -- factor into our longer-term thinking and are gold-positive, while terrorism and its potential impact on oil prices are on average also gold-positive," he added.

BROADER INVESTMENT STALLS

Investment funds piled into commodities, including gold, in 2003 against the backdrop of a struggling dollar and heightened geopolitical tension.

But analysts said the market had been only partially successful in its efforts to attract new investors with products such as gold-backed securities traded on stock exchanges.

"The expectation of a sustained rally was based on the assumption that a retail and wholesale investment market would be launched and indeed gather momentum," TheBullionDesk's Norman said.

"The market has failed to inspire the investment community and so the indomitable laws of supply/demand are re-asserting themselves and gold is re-establishing itself in a rather uninspiring trading range."

Average 2004 price forecasts for gold in the poll range from $376.00 to $422.25, but even the low was above the average forecast for 2004 of $350 when a similar poll was conducted in July 2003.

Frederic Panizzutti of MKS Finance said economists' expectations of a slow but almost confirmed world economic growth cycle -- plus moderate, but increasing inflation -- should be positive for commodities prices.

"Geopolitical instability and concerns will be another source of support, in particular for precious metals," he added.

"These few but major factors should enable demand for precious metals to grow over time and generate additional price strength mainly in the last quarter of 2004," he said.

What was that last trade 350k BC?

Anyone got buying price thanks.

Consumer demand for gold increases
MoneyAM
The World Gold Council said consumer demand for gold rose in Q2 with increased consumption of jewellery and retail investment.

Institutional investment demand is thought to have fallen.

Consumer demand rose 11% in tonnage terms to 743 tonnes, and by 25% in US dollar terms, from the year earlier, said the organisation which is funded by the world's leading gold mining companies.

"The rise in demand was fuelled by strong economic growth, relative absence of price volatility, and continuing concerns over the long-term economic and political outlook," it said.

Demand for gold jewellery rose 8% on the year earlier to 664 tonnes even as gold prices increased 13%.

Net retail investment demand in key markets jumped by a third to 79 tonnes, the highest second-quarter figure since 1999 when demand was driven by concerns over the millennium bug.

While, industrial demand climbed 7% to 87 tonnes, the eighth consecutive quarterly gain, boosted by increasing demand for gold for electronic components.

Net central bank selling was half of that of a year earlier with planned central bank sales partly offset by purchases by Argentina, which bought 42 tonnes in the first six months of the year.

"The fact that consumer demand is up, for the second successive quarter, is good news for the gold industry," said James Burton, CEO of the WGC.

Consumer Demand in the Middle East was boosted by higher oil prices, while jewellery and retail investment consumption in India were buoyant and helped by the country's economic growth.

Consumer demand jumped by a third in Greater China, and by almost as much in China itself. The main cause of the increase was the effect SARS had on demand in the year-earlier quarter with jewellery buying 14% higher. Jewellery demand in Japan rose 10%, helped by the unexpected strength in the economy, while consumption in Vietnam surged more than 50%.

In the US, jewellery sales climbed 4% but trends in Europe remained generally negative, although the decline was less strong than in the past.

Institutional investment demand is thought to have fallen as some short-term holders, who had bought gold in earlier months when the price was rising, sold in the absence of any further price gain. However the selling back was less than in 2003 and evidence suggests that many buyers held onto their investment, the WGC said, adding that the relatively strong performance of the dollar also contributed to the decline.

Total gold supply fell 10% to 820 tonnes from the year-earlier quarter on lower Central bank supply and a dip in mine production.

Gold was above 400 and AFG ended up 13%. Is this a start to the next leg up?

This weeks Moneyam magazine, take-overs in junior mining sector "AFG clearly seen as potential take- over target". Taken from ADVFN site.

This will be going places just need to start getting the GOLD out of the ground or drilling results which state there is some there. Also gold holding up well above $400 so plenty of profit to be made. 20p is a reasonable target for medium term as stated on The T1PS.com website.

Mugabe to seek mining shares


President Mugabe threatened firms with state intervention in 2000
The Zimbabwean state could take 50% stakes in mining firms, President Robert Mugabe has reportedly said.
The government is considering the move, reports claim, in an effort to crack down on what it says is the illegal use of foreign currency from exports.

The state-run Herald newspaper quoted Mr Mugabe as saying that the state did not yet have "absolute ownership" of the country's natural resources.

Zimbabwe has vast reserves of gold, platinum, nickel, copper and coal.

Controversial proposals

Earlier this year President Mugabe's government withdrew a controversial draft law which would have forced mining firms to sell a 49% share in their businesses to black Zimbabweans.

We cannot recognise absolute ownership of our resources - that must be corrected

President Robert Mugabe
A final version of the law has yet to be published pending a consultation process promised by the government.

"We are going to demand that government be given 50% shares in the mines," President Mugabe was quoted as saying on Tuesday.

"We cannot recognise absolute ownership of our resources. That must be corrected."

Zimbabwean state radio, also reporting President Mugabe's comments, said the measures were designed to prevent "illegal transactions" which had resulted in foreign currency earnt from exports being siphoned off.

It also said the move would apply specifically to firms involved in gold mining.

Golden share

Gold accounts for just over 50% of all mineral production in Zimbabwe and is one of the country's main foreign exchange earners.

The government said last month that Zimbabwe's mining industry was on track for financial recovery.

It said reforms had made it easier for firms to import raw materials while companies were able to retain more hard currency from their exports.

The collapse of Zimbabwe's economy over the past four years has left firms facing acute shortages of fuel and other raw materials while rising costs have curbed production.

Zimbabwe's economic output has fallen a third in the past five years, the International Monetary Fund said earlier this year

http://news.bbc.co.uk/2/hi/business/3657116.stm

African Gold PLC
27 September 2004

Contacts:

John Teeling + 353 (1) 833 2833
Adrian Lungan +233 (24465) 6485





PRESS RELEASE
AFRICAN GOLD PLC the AIM listed gold miner is pleased to
announce the following:



Significant gold mineralisation intersected in initial drill holes at Owere/
Konongo, Ghana.

Diamond drilling at our Owere/Konongo gold project in Ghana has
intersected significant zones of high-grade gold mineralisation.

The best intersections are from Hole OBAPC-05 where 12.06g/t Au was
intersected over a width of 16m and Hole OBACP-02 where 10.90g/t Au was
intersected over 12m.

Drilling confirms that substantial widths of highly-mineralised wall rock
exist in the mine workings.

Results of all holes have confirmed the presence, continuity and grade of
mineralisation in just one of nine such ore-bodies.

The Company is pleased to announce the results of initial drilling of the
Obenemase ore body at our Owere/Konongo Gold Mine in Ghana.

Hole No. Dip From(m) To(m) Interval(m) g/t Au

OBAPC-001 -47 134.0 137.0 3.0 5.68
144.0 145.9 1.9 5.63
190.0 192.6 2.6 3.55
OBAPC-002 -50 108.0 120.0 12.0 10.90
OBAPC-003 -45o 103.0 109.0 6.9 3.06
115.0 120.0 5.0 6.03
127.0 129.0 2.0 4.17
OBAPC-004 -53o 133.0 138.0 5.0 5.08
OBAPC-005 -46o 70.0 79.0 9.0 2.79
107.0 123.0 16.0 12.06

An initial thirty-hole drill programme is designed to test the grade and
continuity of gold mineralisation remaining in the wall rocks marginal to just
one of nine ore bodies at Owere/Konongo. The assay results obtained are from HQ
drill core and are the first received to date from Analabs in Ghana. In the
1930's, underground mining at Owere focused entirely on high-grade, gold-rich
quartz veins and the sulphide hosted high-grade, gold mineralised host rock was
left behind.

Previous drilling indicated the potential of the wall rocks to host an economic
ore body and the current programme is focused on converting inferred and
indicated gold ounces to measured ounces. An earlier study indicated a resource
of over 900,000 ozs in the area.

Drilling is ongoing and further results are expected in the very near future.

John Teeling co chairman said 'These are excellent results and fully support our
belief that we can turn the 900,000 oz indicated gold resource into a
significant gold mine.'

African Gold is an AIM listed company (AFG) with gold mining interests in Africa

www.africangoldplc.com

I have sent the result to a friend who works for a prospective gold mines, hopefully he will tell how good are the results!! will keep u posted

Another pile of crap , wasn't your bum chum ramping these at around 14p when the thread started ?

DIL crap is the way you dressed up, you lousy trannie.

Hey calm down guys and as for you Dil if you don't like AFG then what are you doing on this thread. If you have a negative view supported by info then I would be very interested to here your views.

LONDON (AFX) - African Gold PLC said significant gold mineralisation has been intersected in initial drill holes at Owere/Konongo in Ghana.

In a statement, the company said the drilling confirms that substantial widths of highly-mineralised wall rock exist in the mine workings.

It said the results of all holes have confirmed the presence, continuity and grade of mineralisation in just one of nine such ore-bodies.

Previous drilling indicated the potential of the wall rocks to host an economic ore body and the current programme is focused on converting inferred and indicated gold ounces to measured ounces.

Drilling is ongoing and further results are expected in the very near future.

Co-chairman John Teeling said: "These are excellent results and fully support our belief that we can turn the 900,000 oz indicated gold resource into a significant gold mine."

newsdesk@afxnews.com

nice start to the day

More to come yet.

Mining industry set for record year in 2005
By Jeremy Grant in Las Vegas
Published: September 28 2004 00:33 | Last updated: September 28 2004 00:33

The global mining industry is likely to enjoy another record year in 2005 amid continued growth in manufacturing and Chinese demand for commodities such as coal and iron ore, the US National Mining Association (NMA) said on Monday.


The NMA's upbeat assessment of the industry's prospects comes as mining equipment companies - such as Caterpillar, Komatsu and Terex - are experiencing record orders.

Demand for new trucks, shovels and other mining equipment was "very nearly outstripping" manufacturers' ability to fill orders, according to NMA chief executive Jack Gerard.

He said concerns that a slowdown in the Chinese economy might puncture demand for mining equipment had proved unfounded.

"Simply put, worldwide demand has struck what has been a relatively quiet market with nearly hurricane-force winds. As a result, the state of the industry, both here and abroad, looks very positive for 2005," he said at the opening of MinExpo, the world's largest mining exposition. He foresaw "little or no slowing in demand" for mining equipment over the next year.

The NMA, which represents the interests of more than 300 US companies in mining, said growth next year would come in spite of a slight slowdown in US manufacturing activity as a result of higher energy prices.

It predicted US coal production next year would probably be 1.15bn tonnes, up by 4 per cent compared with this year. Demand for US coal exports would be likely to continue to be strong next year "particularly as China is not expected to export as much to the world market", the NMA said. That would help deplete stockpiles of US coal by some 25m tonnes below the already relatively low levels of the end of 2003.

The NMA warned that the industry faced a shortage of skilled workers capable of handling machinery in an industry that is rapidly becoming more reliant on technology for mineral extraction.

But officials said that the industry was better prepared to ride out the cyclicality of the commodity markets as a result of recent mergers and acquisitions and stronger financial discipline.

John Nils Hanson, chief executive of Joy Global, a Milwaukee-based supplier of mining equipment, said large publicly-listed mining companies were not increasing capacity "just for the sake of increasing capacity."

He added: "There's a greater tendency for them to match long-term contracts with capacity expansion and to make certain that when capacity gets added it's not just for the purpose of lowering prices but allows them an early return on capital employed."

He acknowledged that commodity markets were always likely to be cyclical but he expected mining companies to be "less reactive" to price movements. "We'll find [mining equipment] cycles that are more like waves than spikes and troughs."

http://news.ft.com/cms/s/c481f6a4-10dd-11d9-a73b-00000e2511c8.html

Results are out
They look very good to me.

From ADVFN
=====
Ogeretla - 27 Sep'04 - 22:57 - 3944 of 3961


12.06 g/t and 10.90 g/t over large widths ? That's impressive !

From www.gold.org :

"What is the average gold mining grade?

The grade of ore refers to the proportion of gold contained in the ore of a particular mine and is quoted in grams per tonne (g/t). The type of mine depends on the depth and grade of the ore. At a rough estimate, the larger, better quality South African underground operations are around 8-10g/t (Anglogold), while the marginal South African underground mines run at around 4-6g/t. Many of the operations elsewhere in the world are open pit mines, which run at lower grades, from as little as 1g/t up to around 3-4g/t. A more significant piece of information than average gold mining grade is cost per ounce, which is a combination of grade (grams/tonne) and operating costs (USD/tonne)."

So, it looks like we're at the upper end for the best intersections :-)

Now, how quick can they get it out and processed !

Og
====

African Gold PLC
28 September 2004
contacts:

John Teeling + 353 (1) 833 2833
Jim Finn +353 (1) 8332833
Oliver Baring + 44 (0)7785 320567

PRESS RELEASE

AFRICAN GOLD PLC the AIM listed gold miner is pleased to issue results for the
year ended 31st March 2004:

Highlights:

New directors, shareholders and projects are transforming African Gold
into an active, vibrant African gold explorer.

Excellent drill results are being obtained on the Konongo gold property in
Ghana including one hole running 16 metres at 12.0 g/t gold.

The objective in Konongo is to prove up an existing 900,000 oz. gold
resource into a reserve capable of sustaining
a 100,000 oz a year mine.

African Gold is actively exploring three additional properties on the
Ashanti Gold belt in Ghana. The Ahanta prospect in particular is showing very
encouraging results.

Two gold acquisitions in Africa are under evaluation

The corporate target is to become a 500,000 oz a year independent African
gold miner.

Statement Accompanying Results

African Gold has been transformed in the last twelve months. What, a year ago,
was a struggling small miner in Zimbabwe, has become a vibrant company, active
in exploration in West Africa, with a new board, new strategy and new financing.
Even the Zimbabwean operation has perked up. The Inez mine is being refurbished
while ten new prospecting licences have been gazetted. The transformation
remains a work in progress so expect significant developments in the coming
months. The strategy of the company is clear, to become a medium sized London
based independent African gold miner.

Before getting into the details of how we are going to achieve our strategic
targets, let me summarise our current operations. We now have four gold
properties in Ghana and a significant 250 sq km presence in the fabled Ashanti
Gold Belt. The top priority is an extensive 10,000 metre drilling programme on
the Konongo licence area where reports indicate a gold resource of over 900,000
ozs. Initial results are filtering through. Results from three of the first five
drill holes are shown below:

Hole No. N E RL Dip Azimuth From(m) To(m) Interval(m) g/t Au

OBAPC-003 10040.2 10126.7 290.5 -45o 270o 103.0 109.0 6.9 3.06
115.0 120.0 5.0 6.03
127.0 129.0 2.0 4.17

OBAPC-004 10000.2 10137.5 294.3 -53o 270o 133.0 138.0 5.0 5.08



OBAPC-005 9960.0 10123.7 296.2 -46o 270o 70.0 79.0 9.0 2.79
107.0 123.0 16.0 12.06



Further south, on the Ashanti Belt, our Ahanta property is being sampled. To
date, trenching has produced good results. A Reverse Circulation drilling
programme will commence in the coming months.



The final concession in which we have an interest is Akrokeri, beside the Obusai
mine, which has produced 42 million ounces of gold. The Akrokeri mineralisation
is similar to that in Obusai. Five targets have been identified.





Our Zimbabwe operations, which were on care and maintenance for the past few
years, are being revived. The local economy, which has been a disaster, has
shown some signs of life. Inflation is expected to fall to 200% p.a. by the end
of 2004!! An attempt has been made to link the official exchange rate to
inflation. In recent months we have begun to refurbish the plant, and to drive
new levels on the East shaft. The Inez Mine is estimated to contain 250,000 ozs
of gold. A refurbished plant and an underground development programme could
produce 20,000 ozs of gold a year. We have also identified, applied for and
expect to be awarded, ten new Exclusive Prospecting Licences.



These acquisitions are the first step in a strategy to become a 500,000 oz a
year producer. The group of investors who acquired 29 per cent of African Gold
in December 2003 have the skills, experience and contacts to implement this
strategy. If we are successful with our current projects, we could produce up to
200,000 ozs a year. Three of the new investors, Oliver Baring, Hank Slack and
John Anderson joined the board and are active in providing advice and direction.
Oliver Baring has become joint chairman with me. It will be my pleasure to
propose all three for election at the Annual General Meeting.



The expectation of an improved deal flow has been realised. We have evaluated a
number of acquisitions and one merger. We have been very selective. There is a
vast reservoir of African gold mining experience on the board. We know from
often bitter and expensive experience that gold mining is a tough business.
Wonderful drill results often turn into disappointing mill grades. Issues like
grade control, metallurgy and operating costs are often badly examined in
feasibility studies. The optimistic forecasts of promoters are hard to deliver
from underground.



What is found thousands of feet in the ground, rarely matches the computer
printouts. But there is a substantial opportunity in gold. We believe that
African Gold has the abilities required to take advantage of this opportunity.



We are gold bugs. We believe in gold and in the future of gold. Gold retains two
fundamental characteristics which have existed for 4,000 years, a medium of
exchange and a store of value. The world is becoming a more uncertain place
politically and economically. Major political forces are shaping themselves for
serious confrontation.



The U.S. budget deficit and the deficit on overseas trade and budget are
unsustainable. The U.S. dollar, the glue of our world economy, is fragile.



The current price of $400 an oz has brought welcome relief to many mining
companies' but in terms of Euros, Sterling or Rand, the improvement is minimal.
For the longer term we believe that the price must rise.



New gold production does not meet primary demand. The gap is expected to grow.
Central bank sales and hedging confuse the picture but it is certain that new
mines will be needed in the coming years. New sources in Peru, Chile, Siberia
and the Former Soviet Union (FSU) will cover some of the gap but Africa is the
natural home of gold production. Africa continues to be the worlds largest
producer though political instability in the past 40 years has made it a
difficult continent in which to make money. There are now welcome signs of
growing political stability. This is reflected in increased exploration and
growing output. But Africa remains a continent where local knowledge and
experience is vital. The African Gold board will use their experience and
contacts to acquire properties with significant potential. Two large scale
exploration ventures are currently being evaluated while the acquisition of a
producer is being examined.



Finance


African Gold is now a serious explorer with activities in five separate
locations. In the past year we raised almost 4 m which is being used for
property acquisition and exploration. Good projects are easy to finance. We have
indicative offers of finance for the further development of our Ghanaian
activities.



Future

The future for African Gold is bright. Gold looks good, Africa is improving,
commodities may be in the early stage of long and overdue, price rise. We have
the people, the experience and the ability to take advantage of emerging gold
opportunities in Africa.



John Teeling
Chairman


27 September 2004



CONSOLIDATED PROFIT AND LOSS ACCOUNT AS AT 31 MARCH 2004

2004 2003



TURNOVER 8,833 27,576

Cost of sales (15,148) (24,062)

GROSS (LOSS)/PROFIT (6,315) 3,514


Administrative expenses (237,574) (124,259)



OPERATING LOSS (243,889) (120,745)


Interest payable and
similar charges (1,697) (542)


LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION (245,586) (121,287)


Tax on loss on ordinary
activities - -


RETAINED LOSS ON ORDINARY ACTIVITIES
AFTER TAXATION (245,586) (121,287)



LOSS PER SHARE (.15p) (.08p)


LOSS PER SHARE - diluted (.15p) (.08p)





CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2004






2004 2003




FIXED ASSETS

Tangible assets 15,952 33,459

Intangible assets 251,230 -

267,182 33,459


CURRENT ASSETS


Stocks 222 451
Debtors 2,590 3,172
Cash at bank 2,471,422 4,310


2,474,234 7,933

CREDITORS : (Amounts falling due
within one year) (100,630) (134,178)




NET CURRENT ASSETS/
(LIABILITIES) 2,373,604 (126,245)



TOTAL ASSETS LESS CURRENT
LIABILITIES 2,640,786 (92,786)



CAPITAL AND RESERVES


Called-up share capital 2,348,677 1,387,899
Share premium 4,842,803 2,815,295
Profit and loss
account - deficit (4,550,694) (4,295,980)


SHAREHOLDERS' FUNDS/(DEFICIT)
- ALL EQUITY 2,640,786 (92,786)




CONSOLIDATED CASH FLOW STATEMENT AS AT 31 MARCH 2004



2004 2003



NET CASH OUTFLOW FROM
OPERATING ACTIVITIES (257,092) (15,892)


RETURNS ON INVESTMENTS AND
SERVICING OF FINANCE



Interest paid (1,697) (542)



NET CASH OUTFLOW FROM
RETURNS ON INVESTMENTS
AND SERVICING OF FINANCE (1,697) (542)



CAPITAL EXPENDITURE AND
FINANCIAL INVESTMENT


Payments to acquire tangible
fixed assets (262,638) (24,178)



Receipts from sales of
tangible fixed assets 253 6,756




NET CASH OUTFLOW FROM
CAPITAL EXPENDITURE AND
FINANCIAL INVESTMENT (262,385) (17,422)


NET CASH OUTFLOW BEFORE
FINANCING (521,174) (33,856)


FINANCING:


Issue of ordinary
share capital 2,988,286 -


NET CASH INFLOW
FROM FINANCING 2,988,286 -




INCREASE/(DECREASE) IN CASH 2,467,112 (33,856)



Notes:


The financial information contained in this announcement does not constitute
statutory accounts within the meaning of Section 240 of the Companies Act 1985.
The figures for the year ended 31 March 2003 have been extracted from the
statutory accounts which have been filed with the Register of Companies and
which are available on request from the Company Secretary. The auditor's report
on those accounts was unqualified and did not contain any statement under
section 237(2) or section 237(3) of the Companies Act 1985. The statutory
accounts for the financial year ended 31 March 2004 have been approved by the
Directors. The auditors' report on these accounts was unqualified and did not
contain any statement under section 237(2) or section 237(3) of the Companies
Act 1985.


A copy of the audited Annual Report for 2004 will be mailed to shareholders and
is also available for inspection at the Company's registered office at 20-22
Bedford Row, London WC1R 4JS.




African Gold is an AIM listed company (AFG) with gold mining interests in Africa


www.africangoldplc.com









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