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 ??

>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'....

takahe,

In Angola, corruption, it's a stone cold certainty!

And they are one of the few countries in the world with internal customs, so there's more "greasing" to be done there!

They could be in Joburg trying to tie up a deal, a JV, or maybe to buy the required equipment, we shall have to wait and see.

Takahe,
Can you get your P R chap to confirm the time it takes to reach site, is it weeks or months , if he can get weeks mixed up with months i don't think they should let him issue any press news, LOL

tell you what..you ask him!

takahe,

You seem to be becoming somewhat uptight, i assume you must be a large holder!!!

what i cannot understand is why they would stop the alluvial mining just before they said they would report values, and future profit projections, and move the whole set up to the top of a kimberlite where they appear to have done no exploratory drilling at all!!!

and if they did this for the reasons stated by the pr guy, why didn't they at least put out what they had actually mined before the move to kimberlite mining???

have they actually mined anything yet???

And if so how many carats, have they sold them, and what were they worth???

something appears not quite right here!!!

Not to mention no reply from either NOMAD or Directors to my email. I'm sure they are busy men all, but look at the courtesy extended by many other Chairmen/CEO's/PRO's on other companies.

Being wrong in the speculative mining business is part and parcel of the game. Being arrogant about it is very dangerous.

Even having lost more than half my investment, I am contemplating cutting my losses on this one.

Anyone got any views on when we might get reliable positive news?

sd

Not to mention no reply from either NOMAD or Directors to my email. I'm sure they are busy men all, but look at the courtesy extended by many other Chairmen/CEO's/PRO's on other companies.

Being wrong in the speculative mining business is part and parcel of the game. Being arrogant about it is very dangerous.

Even having lost more than half my investment, I am contemplating cutting my losses on this one.

Anyone got any views on when we might get reliable positive news?

sd

aimtrader...not uptight about it. I am disappointed that the company have not put out any indication of what they have found so far. I have made my feelings about that quite clear to SH, as I'm sure you have, too. There is no excuse for not replying to shareholders emails, either. Their decision to pursue the kimberlite must have been taken quite a while ago, judging by the size of the holes in the ground. They didn't dig those ten minutes before the RNS!
What I assume they have been doing is getting down to the Calonda formations above the kimberlite.
The Calonda Formation is essentially a continental redbed sequence of felspathic sandstone (arkoses) and basal conglomerates (locally called gravels), with argillites (fine sands and muds) appearing in the upper part of the sequence. The thickness of the formation varies from over 30 metres to small thin pockets of sediments preserved from erosion in basement depressions. The Calonda formation comprises two main conglomerate/gravel beds; both well defined although irregularly stratified. The lower unit consists of generally rounded reddish pebbles, whereas smaller rounded white pebbles predominate in the upper unit. The lower gravel unit, varying in thickness from 0.42 - 1.10m, usually supports a higher diamond grade. The gravel itself usually consists of siliceous (predominantly silicified sandstone), Commercial quantities of diamonds occur in the basal conglomerates of this formation and result from the erosion of diamondiferous kimberlites. Ore grade deposits occur either adjacent to kimberlite or more distally where there are well developed palaeo river channels in the conglomerates.

They can mine these, within the terms of their alluvial license.
The company claim that Alrosa are looking covetously at their kimberlite and they HAVE to take the opportunity to get the chance of a JV with a major...to do a Petra.
We either believe them..or not!

ASMITH - I note that you disagree with the opinions of others on this thread, but what interests me is why your posts have to be so insulting, irrational and even a little childish?

takahe,

nice geology lesson, but we need to know whether thay have found any diamonds or not???

Strange that they stopped alluvial mining just before they were due to upate the market about profit predictions and grades!!! don't you find that strange???

is it true they havent drilled the kimberlite???

if so, how confident can you be that they will find anything without any prior drilling??

i would have thought they would have drilled first before spending large amounts of money moving so much overburden for the top.

will they need more money soon do you think???

this still looks extremely risky