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 ??

ASMITH..I didn't say my average was sub 3p....I said I bought some under 3p. How unpleasant a person you must be to sneer,like that. Very common.LOL to you, too....!

Mes Amities / Dynamite / Slt . B/ sante . This is becoming quite tedious; But being both gallic and hence versed in good grace and manners l try and deal with errr...difficult females in a patient courteous , polite and respectful manner. But once again i find myself having to correct the utter twaddle which you dream up.. lf you bothered to simply read my last posting { a response to your DIRECT question } i stated quite clearly i was heavily shorting SEO and had been since its fall from a zenith of 30p . At no time did i even suggest i was shorting NML ,nor in fact , GFM as you in fact MORE than infered on that very thread .. This is now the second occassion you have made such unsubstatiated reckless erroneous accusations without ANY evidence nor , and more importantly, realising the implications they could have for others. .lnitially i accredited it to perhaps the vagaries of my English.BUT,in effect, you are patently libelling me:and what with my true identity known by a couple of people on this board that is plainly unacceptable and embarrasing.Were this be made known to my employers a conflict of interest may arise. . .. l have tried my level best to courteously rectify this matter with you; but you seem incapable of both rhyme and reason ; and seem to have made it a matter of personalities as opposed to a matter of opinion ...{ All i can say is ,,,,YOUR POOR Husband <> Merely jesting before you start . }! . .l give only my PERSONAL opinion ...My abhorance of NML is no secret . l have my reasons. BUT they are not personal as to some petty gripe with NML itself . But based on rather in more mundane variables like a bank balance of someone on state benefit. An inexpeirinced, vaccllitating board who upon realising its alluvial programme unforfillable leaps blindly into the brave new world of kimberlite exploraton . Simple stuff like that . Plus l know Angola through its rapidly growing offshore oil industry which is being touted as the new North sea et qui sait ?. A new Alaska even .{.BP have had several strikes alone this year on the infamous block 31 which is in 2200m of Atlantic with drillstrings over 6km deep 2oo km from Angolas coast } . BUT no matter what anyone tells you to the contrary the mainland is a very dangerous place with hemetically sealed , army protected compounds for off duty BP , Total and Chevron workers with electric fencing and roaming dogs ..ln effect its a prison thus most off duty staff go straight to the seedy oil grained city airport of Luanda ,,,and home/ holiday , ....Both Chevron/Tex and BP have monstrous security overheads . Curruption is among the worst i have seen in Africa. Mind you they are rather good at that with massive oil revenues of 4.2 BILLION going missing in Nigeria . So what chance for NML. ? The friggin bandits in in interior are former quite highly trained soldiers and are armed to the teeth . And i dont mean with spears i mean surface to air jobs and Koch and AK47 assualt rifles , l have seen it . Finally l dont have a perverse delight in watching you or anyone lose monies. .So let us draw a line under this matter; and merely beg to differ. ..BUT please get your facts straight before you post . ls that too much to ask ? ,,,,Bonne chance / ......@+ J.

See we got into the press today - stolen from ADV*N....

Mention in the Express today ........
" Miner New Millenium Resources was steady at 1.87p despite hopes for a bullish update on its African projects"
Not much but at least we got a name check !

Better than nothing I suppose.

Shrewd,

Not if it's in the 'kiss of death' David Shand column! (IMHO)

That guy seems to concentrate on certain AIM fallers, such as MMD/SCO from 180p to 2p!

Now he has mentioned NML twice in a couple of weeks.

You do have to wonder why?

What, an express journalist with inside info?

I doubt it but we'll see.

stringy,

well as the two shares that I follow that he features have FALLEN, I somehow doubt it!

>Andy

I've been reviewing the trade data again today and it looks even worse. The rumours on AD*FN from Flintsurfer about news on the way were probably MM instigated. According to my data, in the past week the MMs now have close to 11 million shares on their books between them. A huge imbalance. This accounts for the sudden and large drops in the share price over the past week.

The total sell trades during the previous two weeks were 5.4 million. When someone tried to dump over 3 million during the past few days, it was more than the MMs could take and they were forced to drop the price again, not only to discourage further sells, but also to encourage buying to soak up the surplus.

The figures I'm looking at now show that when the price dropped on the 29th due to some heavy sells, it encouraged buying on the 30th, which enabled the MMs to raise the price a little, with the hope this would entice further buying. Unfortunately the price rise did prompt another major sell and the price dropped on the 3rd. Further buying on the 4th, including the 1,000,000 bartyboy buy did allow the MMs to move the price up on the 4th. However, several large sells on the 5th moved the price down again and of course on the 6th massive dumping caused the huge drop.

We are now in the closed period before the Final Results due at the end of the month. Most of the investors on the AD*FN BBs have forgotten that NML is an Australian company and has to report in 4 months, not 6. We know that they are going to report massive losses, because the interims were already showing this. They have completely failed to achieve the net positive cashflow that they promised in November last year and it now looks as if they will have to announce that the rainy season has started as is hampering any work, either on the drilling or the alluvials. Not that I believe that they were ever extracting the alluvials anyway.

As I've said for many months now, the 180k figure suggests that they never started the alluvial work in April as they said they had. If they had started they would have had some diamonds to show for it, but they don't. The diamonds in the picture are very probably the only stones they found during the pitting and sampling work in December and January. At least the major shareholders are now questioning the management about this. They were so ready to debunk the questions that you and I posed about the operations, but it appears that they have been persuaded, probably by the continued drop in the share price, that there maybe some validity to what we said.

Looking at the figures now and the way they dropped last year on the Finals, I can easily see the share price falling below 1p, even as far as 0.5p. The company has to announce how it intends to finance itself through the exploration programme. They have no revenue from the alluvials as they said they would and even if they wanted to (re)start work on the Garimpo, they would have to get a sizeable amount of working capital from somewhere.

The only people likely to loan this to them, given their track record, is the friendly bank that is connected with the biggest shareholder, one of the directors. IMO I would not be surprised to see an issue of 100 million shares at $0.015 per share to yield $1.5 million. But it could be even worse. It is possible that they will issue even more at a lower price. For instance 130 million shares at $0.01 to yield $1.3 million.

We need to bare in mind that this director received more than 13 million shares for the convertible loan of $1.25 million at the start of the year. No wonder he converted the shares immediately. If he had left the loan till it had matured in January 2006, it would probably be worth a fraction of its original value. So much for the claims by the others that the conversion was a vote of confidence in the company. They did not comprehend what was going on - but they do now!

The future is looking dire for the short-term. The company can certainly negotiate a JV with a major, but without data they are not going to get very far. Not unless that major already has data on the kimberlite and is willing to share it. They could try to hammer out a quick deal with Alrosa, to process the ore through Catoca, but I doubt that this would yield cash right away. Unless they announced the deal and immediately did a share dilution to raise the funds and put the alluvial operation into high gear.

As you know, I still believe that there are diamonds there. The majors would not be interested if there wasn't. Despite the fact that C9 has very few kimberlites in comparison to some of the other licenses, they do have alluvials according to the data. If the situation is as I have postulised in the past, then the mystery seller has not finished their mission yet. There is some value still to be gleaned from the current shareholders. Although how long they can continue now that the companies credibility is blown is another matter.

It might be that this is the last major dilution, the massive one before they start announcing good news. You know that I've always said that as soon as the present shareholders have been diluted almost out of existance, with the majority of the company held by one or two individuals, then the news that everyone has been waiting for would start to arrive and the value of the company would shoot upwards suddenly.

Trouble is, if the present lot have been diluted heavily, they'd be lucky to see the value of the company get back to 6p, let alone the double figures that some believed. Of course the 'Mystery' seller(s) will just keep on dumping. There are always more shares to be collected/issued when they need them.

Three weeks tomorrow, three weeks till the results and a freefall drop IMO. Let's see if the nerve of the present shareholders breaks beforehand?

Anom,

Well there does appear to be an overhang, and the MM's only encourage selling every time they raise the price, so, without positive news, I can't see NML rising.

I have to say that they really do have to come up with something quickly, either a JV or fundraising must surely be imminent?

The results will be very poor, as there appears to be no revenue, unless they did sell some diamonds and not inform the market, which I doubt.

I do feel some of those that have abused us for holding a contrary viewpoint are now coming round to our way of thinking!

They should be asking NML the big questions now, after all, they are responsible for the current position, not bearish BB posters!

You two seem to have convinced yourselves that you are correct and that the company is doomed. IMO, NML are playing their own game...and it doesn't mean that it is all over yet. They are unlikely to show their hand to a competitor while they are trying to broker a deal which has not endeared them to their shareholders and has given extreme bears like yourselves plenty to say.
As far as I know, NML are listed in London..not Australia. I have also heard that Healy is over here permanently...hardly, perhaps, the action of a man who is expecting his company to collapse.

Anom..."At least the major shareholders are now questioning the management "
....a number of the shareholders often question what is happening.....just don't see the need to inform non-shareholders about it! Why should non-holders be interested?
Perhaps your obituary notice for NML is a bit premature....

"Despite the fact that C9 has very few kimberlites in comparison to some of the other licenses,".... I wonder if Alrosa would agree with you..perhaps you know more than them? The quality is important, rather than the quantity....

NML may be listed in London but they are registered in Australia. As such, they are obliged to report 4 months after financial year end. Likewise, the notifiable limit is 5% for Australian companies as opposed to 3% for UK registered ones. For this reason, it was easier for the Badenhorst brothers to hold non-notifiable interests and sell their shares without showing their hand to the shareholders in the process.

I would speculate that Healy's presence in the UK has more to do with fund raising than anything else. I doubt that he would be needed at the sharp end as a number cruncher and the company is desparate for fresh working capital.

As for the questions, it has been noted that the questions being sent to the management are the very same ones that were posed by Andy and myself earlier this year and instantly attacked by the regular shareholders. So it is quite hypocritical for the shareholders to adopt these questions without acknowledging that they were wrong to attack the questions in the first place.

You'll note that I did not say an obitiary notice was to be posted in my posts. Other people have suggested that NML is about to go under. Certainly the prospects would not look good if they were forced to obtain finance from the usual sources, banks, institutional placings or private placings. NML has a 'tame' placee in the form of Al-Wakalah. The question is, is this director willing to take on more shares and just how many and what price? As I've said before, it depends on if they've finished mining the shareholders rather than the diamonds!

NML is not bust. They could go bust if they were forced to raise funds like other minexs, but either way, they are unikely to do so. I think you are wrong to suggest that Andy and I consider that NML will fail. Someone has not finished playing their hand yet and there's a lot of money at stake here.

NML does not have many kimberlites compared to others in the nearby area. Take Xceldiam as an example. Their territory contains 8 known kimberlites in a cluster directly north of Alto Cuilo and another 90 targets. I count eight clusters in total. There's no guarantee that any of these are diamoniferous, but then they have as much claim to say that they are as NML do, because they are 40 km from Catoca, compared to C9's 25km. Most of the anomalies discovered are in the direct line of the Lucapa Corridor, which is known to be the most promising prospective region of Angola. With Alrosa to the west and Petra/BHP to the South, the prospects for Xceldiam look pretty good. Even if half of their targets turn out to kimberlites, then that's quite a few. If one tenth are diamondiferous, then they are laughing and if 3% are economic, then they are likely to be extremely wealthy.

Until NML does a similar aerial survey, they only have three kimberlites recorded. I suspect that any JV major will fork out the cash to allow a full survey to be completed. But if they are going to do that, they'd want to see some microdiamonds in the core samples first and enough drill holes to define the size of the kimberlite. Even if NML were to announce the drill had arrived and started work, you're months away from hearing any news on the drilling.

In the meanwhile, NML need money and the share price is bound to suffer. What with the Final Results as well, you ought to prepare for a very rough ride. Even Ianwc suggested he would sell out if they hadn't achieved anything by Christmas. IMO, I believe you will be losing quite a few of the other shareholders too. English Bigblls didn't have big enough balls to stay with it. I wonder how many others are going to stick with it when they could make richer pickings elsewhere?

So we have a clear-as-mud assortment of news today:-

John Cross has gone, temporarily(?) replaced by Shane Healey as MD/CEO. What did he do wrong? I think he started kimberlite exploration without a licence, thinking he needed to get in there to ward off Alrosa - which he seems to have done, albeit illegitimately. Endiama with a 51% interest must have been able to stop Cross doing this if they'd wanted, but they didn't. Meanwhile it is Endiama who have made them back off the kimberlite exploration, it seems. Confusing!

Now NML are going back to alluvial dredging which they should have stuck to since starting at beginning of April and would have produced some positive cashflow by now, having instead geared up and frittered away the working capital on getting nowhere on the kimberlites.

There seesm to be a glimmer of hope that Endiama will grant them an exploration licence if they can get Alrose into a jv - which seems likely they would be interested, being on the adjacent large concesssion and having a good handle on the geology which seems to be positive.

Why don't Endiama just squeeze out NML and get right into bed with Alrosa on the C9 concession?

These thoughts are what my simple mind is able to piece together from the various RNS this year. However, it leaves me in no clearer state of mind as to what the prospects are for NML and its much beleaguered SP. Anyone out there able to explain what is going on, please?

Thanks

sd

Amities ? While there have been a glaring number of mining successes emanating from the lightly regulated AIM junior market NML always was an utter stinker . Having already on several occassions given my reasoning as to why this dog should be put down out of its mercy i think we shall see the begining of its demise this next couple of weeks { prob. in the aftermath of the 4 month interims }; and consigned to the dustbin where it belongs . This is it: The End / Fin / Kaput - Yet another victim of an ill planned, over ambitious, originally underfinanced project in which the vaccillitating , aimless board { none of whom has a soid mining background} underestimated both the "elements " and mass corruption that is Angola . Albeit the liquidators / administrators will quickly accredit its passing in the post mortem to bankruptcy as a consequence of cashburn , this verdict will hide a mutiple number of variables such as the the REAL origins of the NML demise in its utterly inadequate ORIGINAL financing from the very inception. They have simply ran out of both sources of liquid cash and fiscal instruments to exploit .. No bank would even look at them ; ad talk of placings @ 0.50 to 0.75p would suit asolutely no-one. . l have from EXCELLENT sources within the mining fraternity wich would more than suggest the B Bros did quite well out of the entire saga . " And now the fat lady has stopped singing; and the song is over Whats the bets members of the board wont be available for comment during the next few weeks ? .....@+ J

Oh the cleverness of me, sang Peter Pan to Wendy!

from a poster on ADVFN who is a large shareholder and has spoken to Healy this morning.....

"I'm holding
A 5% or 10% 'free carry' in a C9 kimberlite licence would be very valuable. Apparently there are now thought to be more than 11 anomalies, and the pipe that Catoca were already exploring, before NML 'interfered', is thought to be of very high quality and maybe even up to the size and standard of Catoca itself.

It is highly likely that Alrosa/Catoca will be involved - they are already there, already have the infrastructure and could set up a mining operation in six to nine months as opposed to another major who would need 2 to 3 years.

Although nothing appears guaranteed, the potential prize for co-operating fully with Endiama is very large.

More waiting involved and I am prepared to wait."

Endiama hold 51% and NML have to do what they say....
Apparently one incentive to make sure that NML get a free carry % is that it would look very bad politically for Angola's diamond-producing credentials for one of its early partners to be left out completely.

LOL

Now you see why nml is the CON OF THE NEW MILLENIUM!

I cant stop laughing...ara ha ha ha ha ha ha ha ara ha ha ha ha.!

What a lovely person ASMITH is !
Just had a chat with Healy.
He is surprised that anyone sees the RNS as negative!
Endiama are annoyed at NML parking themselves on the kimberlite.
They have asked Cross and Badenhorst to go.
They have now a new relationship where they are co-operating with Endiama who are the senior partner and hold the licence.
I asked him what chance there was that Endiama would 'do' them and he said that 12 months ago, he would have said it was more likely, but that Endiama are very conscious of Capital Markets and would not want any bad publicity.
Cross and Badenhorst going reduces their costs etc, too....
He added that none of the directors are selling ...

Takahe are you also Mcellan then??

As I see it NML is not worth selling at this price and the only option is to sit it out and wait. IMHO most shareholders will do the same. None of this has been what we expected so the unexpected big profits could still happen. This share has always been a big risk and having waited this long we might as well sit on our hands some more.
Di