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 ??

stringy,

So thats a 3% chance then, not 30%!

Check the maths again!

"3% of kimberlites are economically viable."


IMHO the question to ask is where is the production from the three months production from April to June?

According to the RNS they did three months production!

Checked the maths Andy and I cannot understand where your 3% comes from.

10% of kimberlites are diamondiferous.
3% of kimberlites are economically viable.

Non of the 3% of economically viable kimberlites fall into the 90% of kimberlites which are non diamondiferous (ever heard of non diamondiferous kimberlite being economically viable?).

Therefore 30% of diamondiferous kimberlites are economically viable.

I am missing something here?

morning stringy...I think what it means is that :
of all kimberlites, only 10% are diamondiferous at all ie 90% aren't
what is not clear, to me, is whether the data means that 3% of ALL kimberlites are
economically viable, or whether it is 3% of that 10%.
If the latter, it would only be 0.3% of ANY kimberlite being diamondiferous
If the former, it is 3%...

Good diagram and explanation here of diamond formation..
http://dedi36a.your-server.co.za/diamond/geology.html

takahe,

The graphic I saw showed 3% of kimberlites as being commercially viable but it may well be that the graphic is misleading. Took ages to find that info.......can't be bothered looking for it all over again. Ah well!

Hi Stringy...I looked it up, on that pyramid in the figure.
(www.bhpbilliton.com/bbContentRepository/Presentations/IRDSJuly04.pdf ...page 15)
It showed 3% as commercially viable, on that.We'll just have to wait and see...

3% of total = 30% of diamondiferous. That was my point.

I personally have little doubt that the kimberlite in question is diamondiferous and as the likely source of the alluvials on C9 should contain good quality gemstones.

This is what I'm driving at. Looking at the evidence we have (and NML may have even more) this may narrow the odds significantly. Not the only hurdle to jump I know which is why my investment is limited.

stringy,

I think you will find 3% is over optimistic, I think it's nearer 1%.

And how many diamondiferous, economically viable, kimberlites, does Angola currently have?

Kimberlite Production

The Catoca Mine is the worlds 4th largest kimberlite and is currently being operated by SMC (Sociedade Miniera de Catoca), which is in turn owned by Endiama (32.8%), Russia's Alrosa (32.8%), Brazils Odebrecht Mining (16.4%) and the Diamond Finance CY BV Group (18%). The mine produced just over 2.6 Mct in 2001. The kimberlite yields quality diamonds, of which 35% is gem quality, fetching prices of around $75 - $100/carat. Reserves are estimated at 60 million carats. SMC intends increasing production to as much as 5 Mct per year.

DiamondWorks, through its wholly owned subsidiary, Branch Energy, has numerous interests in Angola, including alluvial and kimberlite operations. DiamondWorks operated the Luo and Yetwene kimberlite mines. The Camatchia and Camagico diamondiferous kimberlite pipes are also located within DiamondWorks license areas. The Luo mine began production in 1997 and has produced almost 200 000ct, with diamonds fetching between $120 and 350/carat. The largest diamond recovered to date has been a 232.6 carat stone. The Yetwene mine began production in June 1998. Exploration activities on this property have been suspended due to the security situation. DiamondWorks have alluvial concessions in and around the kimberlite operations, including the Luarica property (North of Luo) and the Alto Kwanza property in the Bie province of central Angola. The Alto Kwanza concession is Diamondworks largest, with an area of 18 000km2.

Southern Era is currently investigating the Camafuca - Camazambo kimberlite pipe in the Calonda area of the Lunde Norte province. Camafuca is estimated to be the worlds largest undeveloped diamondiferous pipe with a surface area of 160 hectares. The pipe is approximately 3.3 kilometres in length and 500 metres in width, and lies 40 kilometres north of the Luo concession on the Chicapa River. Camufuca was the first kimberlite pipe to be discovered in Angola. Recent sampling of the Camafuca pipe yielded just over 1000 carats from a bulk sample of 3 500 m3treated. This represents a significant increase from previous historical estimates. Grades ranged from $126 - $140/carat, with 32% of the diamonds being greater than 1 carat in size and 21% greater than 2 carats. A feasibility study to evaluate the technical and economic viability of the project is essentially complete and was presented to the Camafuca partners in April, 2000. Plans are to develop the higher grade portions of the pipe first - an exercise that is estimated to cost $14 million. The partners have accepted the feasability study and now plan to move ahead with the development of Phase 1 that intends developing the southeastern part of the kimberlite that contains 6.1 million cubic metres of material at an average grade of 0.18 carats per cubic metre. Mining of Camafuca has been complicated by a major river that dissects the kimberlite - initial mining will utilise dredging methods. Ownership of the project is outlined as follows: SouthernEra Angola LDA 32%, followed by Endiama 20%, SML 15% and the Welox Limited 33%. Welox Ltd is part of the Leviev Group of companies . In mid 2002, the Angolan Government formally approved the operating agreement and formation of the operating company, to be called Sociedade Mineira do Angola, Lda (SMC).

Is there any hope left for these at 2.25p bid.?Are they worth a punt now..I suspect not as desperate holders will be queing up to sell at the slightest sniff of a carrot.!

Well without any meaningful positive news, it's hard to see why anyone would want to buy, even at this low price to be honest.

If the company do have something positive to announce, then the price may rise, but that will probably be used by some to exit, so I see any immediate rise as being quite limited.

If NML produce some diamonds, and grades, this may of course change, but to achieve a decent rise, the news will have to be exceptional IMHO.

I personally think some sort of financing must be due soon, as it's a few months since they raised the $500,000, and it can only last foir so long, no matter how frugal you run the company.

Just taken a look at the weather site, and the weather has changed, with rain and thunderstorms predicted for the next few days.

Presumably the company are able to contuinue mining the kimberlite, as they have the necessary infrastructure in place now?

If it rains enough, presumably it will save them digging so much - they can just sink to the level of productive kimberlite - lol!

sd

lol!

Sink or swim time then!

They have to raise money to continue operations, issue more shares at 2p each

There'll soon be a new body of water in Angola then-

'The New Millenium Lake'

-Like the sound of that!

stringy..will leave you a note on pm system...

www.kaiserbottomfish.com/s/Educational.asp?ReportID=71104" alt=

Very informative link!

Scanned through it quickly and saved for future reference.

Thanks again!

Thanks for the pm takahe..........got it!