director buys again

more buying on market today by the chairman ... probably the only significant buying we've seen in amg shares latey

i'm still backing this as a winner, top notch management working in a relatively low cost environment (if acquitition proceeds) ... great exploration potential and short time to bring to production ... should be interesting couple of months ahead

check this CV out, it's the MD david porter's ... impressive stuff!

Icarus Mining Limited are currently planning to list on the ASX. The directors of Icarus Mining Limited include the well known and successful industry professionals, Mr David Porter (Executive Chairman), Dr Burkhard Elsenlohr (Executive Director), Mr John Kenny (Non-Executive Director) and Mr Gilbert Rodgers (Company Secretary).

Mr Porter was an Executive Director and Exploration Manager of Gasgoyne Gold Mines NL until it was taken over in a AUS$180 million transaction by Sons of Gwalia Ltd in May 1996. Since then Mr Porter has been actively involved in a number of successful public companies including Africwest (now Mincor Resources Ltd) and DMR, which was taken over by Hargraves Resources NL, who in turn were taken over by Durban Roodepoort Deep Limited. Recently he has been actively involved in bringing the Agbaou Project (750,000 ozs Gold) in Cote d'Ivoire to a pro-feasibility stage


and this ... note the bolded part, this man definitely has the experience

AFRICA PLAYERS

DESPITE the low gold price and continuing repercussions of the Busang gold scandal, new floats keeping coming along.

Included in the latest crop to test a fairly bruised market is an African gold play put together by a bunch of lads who were gainfully employed at Gasgoyne Gold until that the company was mopped up by Sons of Gwalia.

The team, which includes former Gasgoyne exploration director David Porter, is taking Africwest Gold to the market, an $8 million raising through the issue of 40 million shares at 20c each. A free option exercisable at 20c is included in the package on a 1-for-3 basis.

Underwritten by Perth broker Porter Western, the outfit adds to the growing bunch of Australian explorers which have headed to West Africa during the past five years.

While investor support for such plays has been modest, the application of Australian exploration techniques has resulted in more than 10 million ounces being proved up at an average discovery cost well below $20 an ounce along a geological structure called the West African Man shield.

In total, more than 70 million ounces has been proved up by explorers from around the world during the past five years.

Porter Western's Nic Dinham cockily points out that this is substantially more than the 53 million ounces discovered in Western Australia's top-rated Yilgarn mineral belt during the same period.

Africwest's team is claiming a track record of exploration success (Porter discovered the big Yilgarn Star deposit) and a West African land package covering a big chunk of highly prospective ground.