RNS Number:5205O
African Gold PLC
11 August 2003


African Gold announces that it has completed a placing of 14,000,000 new
ordinary 1p shares, at a price of 1p per share, to raise #140,000. The proceeds
of the placing will be used to provide additional working for the business. As
part of the placing, John Teeling, Chairman of African Gold, has subscribed to
1,250,000 new shares. As a result, his holding is now 16,750,000 shares,
representing approximately 10.96% of the enlarged issued share capital of
152,789,923 shares.


Application will be made today for the new shares to be admitted to trading on
AIM and it is expected that admission will take place and dealings will commence
on 15 August 2003.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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