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

up 10% today. if this hold up we may be going back to 14p within 4/6 months

Was up yesterday and is holding up. A good sign fro things to come.

Great drilling report up 13%

RNS Number:3203E
African Gold PLC
21 October 2004



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



Further Gold discoveries at Konongo in Ghana



Highlights:

* A further nine drill holes contain good gold mineralisation, these are in
addition to the five results reported in September.
* Three of the new holes contain grades of 10 grams or greater over widths
of 5 metres or greater.
* All fourteen drill holes analysed have commercial grade gold.
* Results are awaited from additional holes.
* Drilling is ongoing.



African Gold is pleased to report substantial gold mineralisation in nine
additional holes drilled in our Konongo gold property in the Ashanti Gold Belt
in Ghana. These results follow the noteworthy discoveries in the first five
holes announced September 27th.



All nine holes contain good gold grades. The best results are 10.77 g/t gold
over seven metres in hole 6, 11.28 g/t gold over 5 metres in hole 10 and 11.12 g
/t gold over 7.9 metres in hole 14. The latest results of the drilling programme
are as follows:




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

OBAPC -006 105.0 106.26 1.26 7.24
108.0 109.0 1.0 5.23
110.0 117.0 7.0 10.77
118.0 120.0 2.0 2.90

OBAPC-007 91.7 93.25 1.55 1.78
104.0 105.0 1.0 3.20

OBAPC-008 127.0 128.0 1.0 6.98
143.0 145.0 2.0 5.02

OBAPC-009 104.0 107.0 3.0 4.50
OBAPC-010 85.0 90.1 5.1 11.28
OBAPC-011 140.9 146.0 5.2 3.60
OBAPC-012 115.0 117.0 2.0 2.55
145.0 147.2 2.2 7.85

OBAPC-013 130.0 132.0 2.0 4.60
OBAPC-014 109.3 115.0 5.8 4.10
141.0 148.9 7.9 11.12






A number of further holes have been completed and are being analysed. Results
will be reported in the near future. Drilling continues.



John Teeling co-chairman said, "We now have 14 holes all reporting commercial
grade gold mineralisation. The current drilling programme is on one of nine ore
bodies on our licence, all showing similar geological characteristics. We
estimated a gold resource of 900,000 ounces. This looks easily obtainable and
may be conservative."



Contacts:



John Teeling + 353 (1) 833 2833



Adrian Lungan +233 (24465) 6485

I like the bit in the last paragraph where John Teeling says,we estimaated a gold resource of 900,000 ounces. This looks easily OBTAINABLE and may be CONSERVATIVE.

I agree, this is only one of many projects and 900 000 ounces of gold, a conservative estimate. Given the market cap, you have to say that AFG is very good value!

Is this a BUY?

It's a very good buy at 5.88p, DYOR

wow ! Gold $428+ today, certainly is looking interesting for gold industry.

surprised by the lack of interest given the gold price relative to it's all time highs, investors now seek oil as the major play but are they doing this at the expense of high quality gold explorers with high risk/rewards ratio's such as Mano and AFG? Is there another mini bubble developing in the smaller oil stocks? AFG is a good investment for the long term at this price IMHO!

Moving up ahead of tomorrows AGM.

AGM Statement

African Gold PLC
27 October 2004



27th October 2004


Highlights of comments made by John Teeling, Co-Chairman,
12.00 noon at the
AGM, London,
October 27th 2004

This year, with new projects, directors and a major infusion of capital,
African Gold has been transformed into a major African gold explorer.


The acquisition of four substantial projects in the Ashanti Gold belt of
Ghana has established a solid basis on which to build a major gold-producing
company.


In Ghana, drilling of the Konongo / Owere property has resulted in a 100%
success rate with every hole intersecting economic grade gold
mineralisation.


Five out of fourteen holes intersected a very wide, high-grade,
gold-mineralised zone, e.g. 16m @ 12.6g/t Au.


The on-going drill-programme at Konongo is aimed at proving up in excess
of one million ounces of gold. Based on the resources defined to date, a
mine capable of producing 100,000 oz Au per annum is believed to be
achievable.


At the Banka property, due south of Konongo, recent exploration has
defined a significant wide zone of Banket conglomerate in excess of 2.2km
long.


In Zimbabwe, the company is still active and the Inez Gold Mine is
currently being refurbished and additional gold reserves are being proven up
at depth. Ten new gold licences have been awarded to the company.


The company aims to become a significant independent London-listed
African based gold mining entity within the next three years.


Contacts:

John Teeling + 353 (1) 833 2833
Oliver Baring + 44 (207) 6545588

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

Sunday papers

African Gold expected to receive up to 3m in funding next week from institutional investors to develop gold mines in Ghana ahead of a larger fundraising next year

Good morning Azhar which paper.

On the verge of a tick up this morning, (depending on any sells of course!).

sunday express

RPT Gold futures close at 16-year high atop 434 usd an ounce
AFX


(Repeating for technical reasons)

SAN FRANCISCO (AFX) -- Gold futures rose Friday to climb above $434 an ounce to mark the metal's highest closing price in almost 16 years.

Coloring the trading in gold, a strong U.S. employment report for October failed to provide support for the dollar ahead of next week's decision by the Federal Reserve on interest rates.

Gold for December delivery climbed $3.50 to close at $434.30 an ounce on the New York Mercantile Exchange.

Gold futures moved higher amid 'concerns that the economy is on a path of sustainable growth with a clouded outlook on the value of the dollar,' said John Person, president of National Futures Advisory Service.

The dollar gave back all of its post-U.S. payrolls report gain to trade marginally lower against the euro and the Japanese yen on Friday.

Futures prices in gold haven't closed at Friday's level since December 1988, according to weekly charts. Friday's intraday high of $435 was last seen on April 1, 2004. For the week, prices are up $4.90 an ounce.

The payrolls report showed 'the economy maintaining growth momentum,' said Person. At 337,000, October's growth in nonfarm payrolls was the largest monthly gain since March, according to the Labor Department's data.

Initially, the news sent December gold to a low of $425.50 an ounce. Many traders assumed the data would make it more likely that the Fed will agree to raise interest rates at Wednesday's policy-setting meeting, said Person.

But 'with deficit spending, turmoil in the Middle East, geopolitical pressures, and ongoing threats from terrorism plus the uncertainty over inflationary pressures going into 2005, physical assets such as gold will continue to be a favorite addition to investors' portfolios,' he said.

Great news today...

Ghana shines out for African Gold
MoneyAM
Shares in African Gold were marked up over 17% in pre-market activity after the group announced a major discovery in Ghana.

African Gold said it has made a significant advance in Ghana with the discovery of a major zone of gold-mineralised conglomerate at its Banka concession.

African Gold noted it has the right to earn an 80% interest in the Banka concession through expenditure of $1.5m over a two year period.

Oliver Baring, Chairman of African Gold, said 'Together the results from Banka and those coming from the Owere/Konongo property reinforce our confidence that our Ghanaian interests will become a significant set of producing assets.'

Prospects look very good indeed, I'm in

excellent. More to come.