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

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.

Excellent day second % gainer with 26%

Let's hope it stays up in the short term. obviously medium to long term prospects are excellent. T1p.com had a target of 20p.

Azhar...can you paste the t1p.com article here please? Thanx in advance

Up 17.24%,Merril Lynch holds 22 million shares.

hlyeo98 i'll try to find it cos it has been a while since the article was puplished. This was during the period last year when the shares went from 8p to 15p. sorry it should be T1ps.com. Excellent start to the day.

No 1 percentage gainer 34.48%.

9p now yipee.

what is the next resistance, where is likely to open tomorrow (as momentum is gathering) txs

likely up again

Yipeee go AFG. here we come 20p

Lot of small sells this am.

Anything above 9.88p is a buy at the moment

Apparently 8.4p is the support level?

what happened here back to 8p. Oh well it will probablu take slightly longer to get to 20p

FT.com

African Gold
Published: November 20 2004 02:00 | Last updated: November 20 2004 02:00

With gold prices trading at a 16-year high, African Gold's latest news was greeted warmly. The shares rose 39.1 per cent to 8p this week after the gold exploration company announced it had discovered rich deposits of gold ore in one of its test sites in Ghana. Further tests are required to determine if the site has commercial potential. The shares received another boost following the disclosure that Merrill Lynch Investment Managers had increased its stake to 7.7 per cent after the company raised 1.4m through an offering of 28m new shares as it attempts to become a leader in African gold exploration.