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

Their website is very good indeed. Well worth a look.

http://www.africangoldplc.com

Gold up on weaker dollar



Feb 04, 2004


Gold jumped back over $US400 an ounce on Tuesday, reacting to a sharp slide on the dollar, but remained rangebound ahead of the G7 meeting later this week.

The weaker dollar helped the gold price bounce back from fund selling on Monday, as did physical buying from consumers on dips. However, traders still saw a tight range for bullion.

"I think the range has narrowed in to $397-402. If we break above $402 convincingly it is going to have to plough a furrow through to $407 where I see solid resistance all the way up," said AZN's Peter Hillyard.

The euro stormed 1% higher against the greenback in early trading and the yen reached 105.28 against the dollar - its highest level since September 2000.

The dollar fell after a top US official fanned the view G7 ministers would offer the dollar little help at their meeting on Friday and also because ricin poison was found in US Senate mail.

Source: Reuters

EXPLORATION

AFRICA

Four major properties have been identified and will be evaluated in the first quarter of 2004.
ZIMBABWE

The Inez property and surroundings are largely unexplored.
A 150,000 exploration programme over 15 months is required to evaluate the potential of:
the Dalmeny mine some 6km from Inez.
the old Mahogony mine on the Inez claims.
the recently discovered Green Reef on the Inez property.
A 70,000 ton surface ore body grading 3.5g/t lies 12km from Inez called the Eve. The possibility of quarrying the ore, transporting it by truck to Inez and processing through the big mill is being evaluated. The project will be a 50/50 joint venture with the owner of the orebody.
GOLD/PRECIOUS STONE OPPORTUNITIES

Some 600 gold mines exist in Zimbabwe.
Afgold has completed a detailed evaluation of gold prospects in the country.
Potential exists in former mines, current undeveloped mines and joint ventures with producers.

GOLD AND AFRICA


--------------------------------------------------------------------------------

After 20 years in the doldrums, gold is back in favour.
At prices above $ 400 an oz, many known gold properties become economic.
The supply demand balance for new gold suggests further price rises.
Africa is the centre of gold production. It holds many deposits and has the skills, expertise and knowledge to develop them.
Afgold is well positioned. Existing and new directors have a wealth of experience and contacts.
The merger of AngloGold with Ashante will likely result in certain properties becoming available. These are the first targets for the new Afgold.

From Investtech:

Positive Candidate (Short term) - Feb 3, 2004
Has risen 836% since the bottom on 30 Sep 2003 at 1.25. Has broken through the floor of a rising trend channel. This indicates a slower rising rate at first, or the start of a more horizontal development. RSI is overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. Positive volume balance strengthens the stock in the short term. The stock has support at p 4.10. The average difference between the highest and lowest price of the month is 53%. The risk is therefore high.

Positive Candidate (Medium term) - Feb 3, 2004
Has risen 1772% since the bottom on 7 Apr 2003 at 0.63. Is within a rising trend. Continued positive development within the trend channel is indicated. RSI is, however, overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The volume balance is positive and strengthens the stock in the short term. The stock has support at p 1.26. High risk.

Weak Positive Candidate (Long term) - Feb 3, 2004
Has risen 1772% since the bottom on 7 Apr 2003 at 0.63. Has broken the ceiling of the falling trend, which indicates a slower initial falling rate. Has risen strongly since the positive signal from a inverse head and shoulders formation at the break through the resistance at 2.00. The objective at 6.40 is now met, but the formation still gives a signal in the same direction. The volume balance is positive and strengthens the stock further in the short term. The stock has support at p 1.26. High risk.

The long term chart has been upgraded to weak positive candidate from neutral by Investtech.

What is RSI? What does it mean RSI is overbought?

On the rise again.

Hi Joe,

RSI is the Relative Strength Index. Sometimes when a stock has an RSI that is oversold, dead cat bounces occur and sometimes when a stock has an RSI that is overbought we see a short term reaction down which I beleive was what we witnessed on Monday.

Price doing really well today, 12.5-13.5 pence, up 13.0%.

Today's Leader and Laggards from earlier:

African Gold has put on 6.5% to 12.25p. On 29 January it said it had taken a 90-day option on the Konongo Gold Mining lease, which covers the northeast portion of the Ashanti Gold Belt in Ghana. The fully permitted mining lease is 125 sq. km. and covers 20% of the strike length of the Ashanti Gold Belt.

African Gold believes there is outstanding potential in the Konongo lease. A shallow resource of 860,000 ounces of gold at 2.33 g/t has already been defined by over 1900 drill holes.

thinking of buying into AFRICAN GOLD? do you think it's worth a buy? i.e prospects of finding GOLDDDDDDDDDDDDDDDD!

Yes is the answer cashcaptain, look at the news releases and you should get a good indication from their website: www.africangoldplc.com

From Today's Leader and Laggards -

African Gold has put on 11.9% to 12.875p. On 29 January it said it had taken a 90-day option on the Konongo Gold Mining lease, which covers the northeast portion of the Ashanti Gold Belt in Ghana. The fully permitted mining lease is 125 sq. km. and covers 20% of the strike length of the Ashanti Gold Belt.

African Gold believes there is outstanding potential in the Konongo lease. A shallow resource of 860,000 ounces of gold at 2.33 g/t has already been defined by over 1900 drill holes.

hi

At 10:51am this morning AFG share price shoot up to 18p and bid price 17p for a few minutes and drop back! Anybody knows why and what does it indicates.

African Gold PLC
05 February 2004


African Gold Extends Licence Area in Ashanti Gold Belt


The directors are pleased to announce the acquisition of a 52% controlling
interest in the Akrokeri gold lease located on the Ashanti Belt in Ghana through
a Joint Venture with Birim Goldfields. African Gold has the right to increase
its interest through expenditure over time. The lease has a common boundary with
the Obuasi Gold Mine which has to date produced 42 million ounces of gold.


Past work has identified a shallow oxide gold shear zone, which extends from the
Ashanti open cut gold mine into the lease. The historic Akrokeri gold mine is
located within the lease and was last mined nearly 100 years ago with an average
head-grade of 24.3 g/t gold. Quartz veins assaying between 10g/t - 25g/t gold
are hosted in a granite intrusion with gold mineralized sediments, wrapping the
intrusive. Five targets have been identified and a detailed exploration
programme is planned to prove up reserves.


John Teeling, Chairman of African Gold plc said, 'We are moving fast to
consolidate our position in the Ashanti Gold Belt in Ghana. The best place to
find a mine is where there is a mine. We believe that there is no better role
model than Obuasi which has been and remains a world-class mine. Our initial
screening of the Akrokeri lease suggests that there are close similarities to
Obuasi. We believe in gold. The Ashanti Gold Belt is one of the worlds foremost
gold provinces. We are delighted to be able to build a strong presence in the
area'.

It's that indication that the share price a going to shoot up again! Great news than! I cant wait to see the share price going to pass 20p within this months or so. Thanks for the info azhar! Best of Luck!! (",)

LONDON (AFX) - African Gold PLC said it has bought a 52 pct controlling
interest in the Akrokeri gold lease located on the Ashanti Belt in Ghana through
a Joint Venture with Birim Goldfields.
African Gold has the right to increase its interest through expenditure over
time.
The lease has a common boundary with the Obuasi Gold Mine which has to date
produced 42 mln ounces of gold.
rn

Current Price 14.00-15.50 pence.

A strong buy at these levels.

Today's Leaders and Laggards:

African Gold gained 17.3% to 15.25p after saying today it has bought a 52% controlling interest in the Akrokeri gold lease located on the Ashanti Belt in Ghana through a joint venture with Birim Goldfields. The lease has a common boundary with the Obuasi Gold Mine which has to date produced 42m oz of gold.