Aquatic Food Share Discussion Threads

[chippy2] 26/10/2005 08:15

Placing aswell !


Re-admission to AIM

RNS Number:1711T
African Gold PLC
26 October 2005


African Gold plc

Re-admission to AIM

African Gold plc ("the Company") announces completion of the acquisition (the
"Acquisition") of Mwana Africa Holdings (Proprietary) Limited ("Mwana"), the
re-admission of its existing ordinary shares of 10 pence each ("Ordinary
Shares") and admission of the New Ordinary Shares (as defined in the Admission
Document sent to shareholders of the Company ("Shareholders") on 30 September
2005) to trading on AIM. The Company's name change to Mwana Africa Plc is
expected to be effective today and is expected to trade on AIM under that name
and the symbol MWA from 27 October 2005.

The South African Reserve Bank confirmed its approval of the Acquisition in
connection with which the Company may be required to seek a secondary listing on
the Johannesburg Stock Exchange in 12 months' time.

As announced yesterday, Shareholder approval was obtained at the Extraordinary
General Meeting of the Company held on 25 October 2005 in respect of all
resolutions placed before Shareholders.

The Company also announces the successful placing of 8,700,000 Ordinary Shares
at 50p per share, raising #4.35 million before expenses.

The Company also announces the appointment of Kalaa Mpinga, David Fish and Tim
Wadeson as directors of the Company. Kalaa Mpinga will be the CEO, David Fish
will be the Finance Director and Tim Wadeson will be a non-executive director
and acting technical director.

[barred] 26/10/2005 08:03

Yes, 1:10 consolidation from this morning..............you will have 10 times fewer shares. Albeit my Squaregain account has not been reduced yet! Shame there is no online trading yet!

[maxk] 26/10/2005 08:02

10 to 1 consolidation but only up 866%.



mmm.

[vig009] 26/10/2005 07:56

My Monitor shows AFG at 42-45p - is this correct !!!!!!!!!!!!!!!!!!!!!!!!

[wstirrup] 25/10/2005 16:42

On the commodities front too, its good to see the Gold price bounce back above $470.00, but not so good to note the Nickel price is dropping back a little.

W.

[wstirrup] 25/10/2005 16:40

1inaMill

The value will be unknown for a few weeks, as it will take that long to establish value as to the resources in the AFG ground, and to get an accurate picture of the Mwana ground.

(Exploration over the last 6months has not produced figures that would indicate the true extent of the AFG ground, which I'm sure the Directors would want to prove up, so as to be able to raise Finance to fund the next phase)

With its new listing, there comes new responsibilities, and providing an accurate picture of the resources/reserves will be one of many things new management will have to do.

With Oliver Baring on board, I am hoping that the man has the integrity to which he has so far been honoured with.

(If you're reading Mr. Baring, I'm free for opportunities in either the I.T., Sales or Finance Depts. :¬))

W.

[dealer1972] 25/10/2005 15:58

Nice 1 share trade at 4.5p, bet they cant wait for this to hit a £1!!

[1inamilion] 25/10/2005 15:20

Bennie Buffett - 25 Oct'05 - 12:34 - 83 of 84
An exceelnt website. It's cool cos it doesn't do anything.

[1inamilion] 25/10/2005 12:57

What will be the actual value of MWA? and so what should the share price be as of tomorrow?

[bennie buffett] 25/10/2005 12:34

www.mwanaafrica.com

Check it out

[miguel66] 25/10/2005 12:04

news is out, all change tomorrow

[bennie buffett] 25/10/2005 09:57

EGM today - Anyone going??

[barred] 24/10/2005 16:28

Well, a small tick up on the bid on the back of the 100k buy.............any reasonable interest should see this rise quickly as so much stock appears to be tightly held............. maybe wishful thinking........

[bennie buffett] 24/10/2005 16:20

EGM tomorrow would expect some interest on the back of this.

[wstirrup] 24/10/2005 09:28

JUST ONE MORE DAY TO E.G.M.?

Hopefully we will have a positive outcome to the meeting, and some NEWS, which will spur the price. I suspect information has been held back until the new management have control, and the good news can be released to provide a positive start to the next phase of growth.

W.

[wstirrup] 21/10/2005 11:45

Perhaps the stock is so "hopelessly illiquid" because they are so tightly held, and most of the shares are in either institutional investors' hands, owners/directors' hands, or investors with an eye for the longer term.

Of course if you are a day or swing trader then this is not the stock for you, but with new professional managers, and the play moving from "explorer" to producer, then the change would not suit serial explorer John Teeling, who is up to his eyes in the middle east with Persian Gold (PNG) and Petrel Resources (PET)

The Gold price as has shown over the last few days is volatile but the trend is UP, and with overall demand outstripping supplpy by about 2:1 the medium and longer term price is a one way street...

Price band for Gold at the moment seems to be within $460-$480.

Taking a breather before the next up-swing?


W.

[wstirrup] 19/10/2005 15:53

Ouch! :¬\

W.

[Abuse team] 19/10/2005 12:30

Post removed by ADVFN

[bennie buffett] 19/10/2005 10:32

I hear there was a very good piece in the Mining Journal on the new board/company. Did anyone see this?

[barred] 19/10/2005 09:06

I'm now 50% down on my investment and starting to worry.............this has dropped far more than I expected so it appears someones bailing out as they don't like the tie up with Mwana...........

At least some buying going on today............

[wstirrup] 19/10/2005 08:30

Dutch, You could just use BritishBulls.com as a guide as to which way the price is likely to move, (on any stock or indices) and if you spread-bet, the guidance is more or less valid.

If you count the wins, and the losses I seem to recall they get the direction right over 65% of the time.

And if you have a small spreadbet, you could mitigate losses elsewhere or even make a living doing it.

NOT that I am advising putting more than you can afford to lose into an account, as it is a leveraged product, and you can get fingers badly burned, and you really need some good advice if you don't know what it is about, but it can be useful.

(No advice intended btw)

W.

[dutch dexter] 18/10/2005 17:12

British Bulls is a load of bull in my opinion. They pretend it doesn't cost you any money to trade and that they can get the shares at the best possible share price If you'd calculate the real costs of trading you would probably lose money following their recommendations.

Personally i think Mwana could be a good longterm play. I'm afraid they'll need quite a bit of financing to develop their projects, but i also think they'll get much of this through JV arrangements. As far as gold is concerned i do have to agree with some here that Mwana may not be the best play. But that doesn't have to be a con, for it will probably decrease the volatility of this share. And i'm also positive about Mpinga's connection with the DRC. That country has likely had the worst behind it. The potential is incredible and if/when the situation improves (further) in the DRC Mpinga could get things done there for Mwana. I'm still positive, but much depends on a smooth transition to the new situation. If this is succesful i will tuck the shares away for the long term.

For pure gold plays i would look elsewhere. And don't forget silver!!! It will start outperforming gold shortly. Commercial short positions have increased for both metals, but don't expect big downward moves. After a few weeks of consolidation the price of both will rise again. After the bad US inflation data that came out on friday, today the european data has shown worsening inflation as well. It's increased to 2.6%. Very bullish for precious metals.