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

Greetings John50.

I was intrigued by the volume aswell.

But what makes you think that the big trades were Buys?

Cheers
Amar (Tad Holder)

Amar

I think it is safe to assume they were purchases. Selling on this sort of volume would invariably depress the share price.

The orders would have been filled threw the day when the bid was at 7.50 and offer at 8.00.

Thanks for your responses.

Tempted to take the plunge...

Cheers
Amar

This is one to buy as once it finds gold, it will be a shooting star.

More funny price movements this morning.....

Is something afoot.

Regards
Amar

it is 8.75p now...strong buy as gold findings is imminent

Look to go long of Gold

Suggests Zak Mir of Zaks-TA.com
Gold has been in recovery mode ever since our Prime Minister in waiting Gordon Brown jettisoned this country's remaining reserves just above the low point of the current cycle near $250. This was a great fundamental buy signal, But ever since then the price of gold has started to push to the upside. The best period for the metal so far was almost exactly a year ago when those gold bugs that had bought into the sector of the stock market which saw many of the small caps soar. But as is often the case with using the stock market as a proxy for an underlying commodity, the gearing in your favour is very often not as strong as the gearing against you. This meant that even when gold broke the initial highs of 2004 late in the year, gold stocks remained subdued.

And in some ways this was a correct response given the way that much of the reason for the spike in gold at the end of last year was only due to the decline in the dollar, with the metal being practically flat in terms of its value in euros.

But this does not necessarily mean that it is the end of the road for gold. The trading clichfor a bull market is to buy on dips and the decline from $450 certainly qualifies in this request. What can be seen on the hourly chart is the way that the 2004 support line runs through $420.Therefore any dips towards this zone should be regarded as buying opportunities. Given that we are currently only some $3 away from the 2004 support line, one could go long of gold with a stop loss of as little as $5 on an end of day close stop loss basis. Only a end of day close below $418 ends the buy dip scenario where we see a top of 2004 price channel target above last year's high as high as $470.

UK-Analyst

Article from todays IC. From the ADVFN board.
Oliver Baring, chairman of AFG another former J Teeling company was busy putting the final touches on a deal to merge AFG with a private South African outfit headed up by some heavyweight industry players. A deal should be formaly announced next week.

Interesting stuff. Hope for a prosperouse week, next week.

azhar
this was another of my stocks, i dont hold it now

There would be more upward movement with a merger in hand

akel44 why not? this is just the begining. These will be going places within 2 years.

I'm in it before they strike gold bigtime

Bizarre spread on this 7.5 bid and 9.0 offer, but when I topped up this afternoon I got 7.85 (and it was marked down as a sell). Seems daft because the advertised 16%+ spread must put off a lot of potential investors.

any idea why the rise today?

any idea why the rise today? - sorry dunno what happened there did'nt mean to post twice!

African Gold raises 1.04 mln stg via 6p/share placing
AFX


LONDON (AFX) - African Gold PLC said it raised around 1.04 mln stg through a placing of 17.3 mln shares with institutions at 6 pence apiece.

The proceeds will be used to fund the company's exploratory drilling programme at its Konongo and Banka gold deposits in Ghana.

newsdesk@afxnews.com

ak/

African Gold PLC
29 March 2005




African Gold plc (the "Company")


The Company was notified on 24 March 2005 that, in accordance with Part IV of
the Companies Act 1985 (as amended), Artemis Investment Management Limited, and
certain of its subsidiary companies, have a notifiable interest of 13,075,000
shares, representing 4.19 per cent. of the issued share capital of the Company.


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

www.africangoldplc.com