NML is due its interrim results now, last year it was the 28th of this month.

They are setting up a new site to explore/research/analyse and all the equipment to do this should be on site now, and drilling should start soon, all this extra news should be covered in the interims.

does anyone have any further positive views on this company ??

>aimtrader
The trade data doesn't suggest this. Sure the MMs are obliged to make a two way market and someone is out there selling shares in large quantities, but the MMs do try to keep a level book as a rule.

They are not accumulating, they will drop the offer to move shares on or drop the bid to discourage further sells. This morning they've dropped the bid and the mid-price has moved. This has helped another 500,000 to be sold, but if the 'Mystery' seller(s) decides to move another tranche, then the price is headed south again.

Anom,

Surely the 500,000 is a buy?

The others are sells though, and the bid has been dropped, whereas the offer remains the same.

Aimtrader..MMs don't usually accumulate. They try to maintain a level book. The 500K is a buy.
In my opinion, the strategy thay have adopted, although it seems strange in the short term, should bring much bigger benefits in the medium term. They are still alluvial mining, just differently from what we expected!
A JV on the kimberlites is where the money is. Ask PDL shareholders.

Anomalous...lying in your teeth again..."This has helped another 500,000 to be sold,"...you can see that itis clearly a BUY @3.65p.
Why do you LIE so much? Easy answer...deramp,deramp, deramp.....

Andy - 21 Jul 2005 12:07 - 1163 of 1165
Anom,
Surely the 500,000 is a buy?
The others are sells though, and the bid has been dropped, whereas the offer remains the same.

Yes the 500k is a buy, what I meant is that the MMs managed to sell it after they lowered the price. Maybe I should have rephrased it. to say that the MMs managed to coax out another buy after dropping the price.

Ok I see what you mean.

takahe,

i am aware how mm's operate, but in order to maintain a liquid market if there are more sells than buys they have little choice but to buy them!!!

of course they can slam down the bid to put off potential sellers, in fact they have done this on nml so many times already.

recent sales exceed buys i reckon by quite a margin, so someone has accumulated a few!!!

pc playing up tonight

pc playing up tonight

>Andy

It's because I was talking about the MMs as in the first person. MMs sell shares when we buy them and vice-versa. So when I was discussing the MM's surplus of shares, I didn't make it perfectly clear that the 500k was a buy (by investors) and sell (by the MMs).

From the data I've collected on the trades (and I've taken great pains to make sure I identify all the sells and buys correctly, I still make it that the MMs have a a massive surplus of 7.5 million shares between them. Not all with one MM, but with a selection of them, including EVO. The overall tranche seems to be over 10 million. The selling has not stopped, but it has certainly slowed. It could be that they are getting close to the end of the last placing and waiting for the next. But I would depend not on it.

They dropped the bid yesterday, because they didn't want any more sells turning up and the lower mid price allows them to encourage further buys from the Muppets.

The 'Mystery' seller(s) is definitely discouraged by lower prices. That makes me believe that the broker has been given specific instructions not to sell much, below a certain price, even though a dilution may be imminent IMO.

Anomalous1 " I've taken great pains to make sure I identify all the sells and buys correctly."..that is absolute nonsense. With a low NMS that NML has, it it very difficult to know at times which trades are buys and which sells. The idea, which you have also posted on ADVFN ,of MMs accumulating 10 m shares is outrageous. We all know that your figures are not remotely to be trusted and that your sole purpose is to bash this stock in any way you can.
Shane will be very interested to know that he is having a dilution.

For the few people on this thread who have a genuine interest in NML, I post the following extract from an email to me from the PR chap:

As has been mentioned before, equipment can take upwards of 6 months to reach the site from purchase in South Africa. It was therefore seen as a
>prudent move to relocate existing equipment already on site to the
>kimberlite rather than wait 6 or more months and run the risk of the
>kimberlite falling into anothers hands. As the company has stated many
>times, New Millennium has an inferred right to the kimberlite, not a
>given one. The odds of getting the hard rock kimberlite licence are
>greatly enhanced by the company being seen to be doing work on the top,
>alluvial section of the kimberlite. This also makes it more difficult
>for a larger mining group to test the pipe.
>Therefore, rumours that the company has moved because of no diamond
>finds are unfounded and the company IS working in the best interests of
>shareholders. I assume that the shareholders would not rather see small
>production in the thousands in favour of proving up an economic
>kimberlite pipe which could yield a billion dollar business.

takahe,


"Shane will be very interested to know that he is having a dilution".

Sounds like a medical condition, lol!


thanks for posting the summmary for us

I'm not sure why it should take six months for equipment to travel a relatively short distance, it only takes three days by ship from Cape Town to Luanda, and about a week to cross Angola by lorry to the minesite.

Even if you allow seven days to truck from, say, Joburg, to Cape Town, and a week or two in Luanda docks, that time of six months seems very generous to me.

Andy..quite agree...I think he may have meant weeks..They have always had problems at the ports, getting clearance and while you might think it would be easier the second or third time..apparently it is not. Angola is very red-tape ridden . The first part of the email mentioned that SH and JC were in J'burg just now.

Anyway, you can take the negatives or the positives....what they are trying to do is a 'Petra'.. I wish them well with the venture...

takahe,

Well if they are buying brand new equipment, it may take time to construct, but I would think they will go for used, to save funds.

Angola is a very corrput country, and the "red tape" requires palms to be greased, so things can happen quickly once the "duties and taxes" have been paid!

It will be interesting to see what they announce when they return from Joburg.

Very interesting Takahe. Do you reckon we are still solvent and going to produce diamonds eventually, or are we going to slowly sink into the alluvial slime? I can no longer tell, which means I should discard my holding, but it's worth so little now, I am not sure what else I could do with it, except buy lunch.

Talking of which, I'm off out for a quick dilution!

sd

sd, just back from my dilution,seems that i'm in the same boat, can i afford to sell? no!, hoping that the corks from my dilution can plug the holes in the leaky boat.

Everyone has to make their own decisions...I have a large holding in these and am certainly not throwing them down the drain because of some derampers spouting doom and gloom, on little basis
Andy...palms may require to be greased but it is not that easy...
I have no idea why they are in J'burg..just that they are!.

This thread seems even worse than ADVFN!
I won't bother posting any more 'news'....