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 ??

ASMITH2...fair enough..I have been in touch with him. He knows nothing about that.
What time frame did your contact have in mind for news to emerge?

Anom...actually, I didn't support their stance on the kimberlite. It seemed a bit high risk to me. You do know also that I complain quite freely about things to the company.
I think you are getting a bit carried away, in time. Without more information, no one knows what is actually happening.

Anom,

It was me who was fully behind the change in focus. Though obviously I had no idea that this was being done behind Endiama's back. I can understand NML's decision to a point but had I known at the time how this was being done then I would have sold up there and then and merely kept NML on my watchlist.

The point is stringy that you were deceived. The directors did not tell you that Endiama did not know about the change in focus or that NML were evicting Catoca from the kimberlite. Had you known this, you very probably would have sold.

This was price sensitive information that was withheld. IMO they thought that they could get away with it, because you would naturally assume that all the NML partners were involved in the switch. They were not and you were not told that. They didn't tell you the full story and as a result the share price has suffered. The directors are responsible for this, not Endiama. They should answer to the shareholders immediately.

Anomalous,

I don't believe they were ever awarded their alluvial mining licence by the Angolan government either!

Do some people STILL think this is positive?

What planet do they come from?

IMHO this is an absloute disaster of the first degree, and highights the fact we were correct to be concerned through all these months, and in fact, the reality is worse then even we thought possible.

For me, the writing was on the wall was after the disaterous shareholder meeting in November 2004.

I wasn't satisfied with their answers, and that justified my decision to sell at a modest loss. I am pleased I followed my instinct on this occasion.

I hope they manage to sell NML on as a cash shell , and the holders retrieve some of their losses, that seems the only way out now IMHO.


As someone else said, now is the time to focus on the company, and what they have said and done, and demand explanations! NML are responsible for this mess, nobody else.

A little bit of feedback for the troops...from Gary..cleared with him, as not being PSI or anything....

Shane Healy is going to Angola in a couple of weeks, as he does as part of his duties, to meet with Endiama. Senator David Johnson , the Chairman of the Board will be going with him, so they are obviously bringing out their big guns. Gary obviously cannot say what they will be talking about however he would expect discussions to centre on the kimberlite,the fact that NML has done everything asked of it and how NML can help bring the kimberlite to the production stage as soon as possible. He feels that, although a major is needed, NML can still play an important part. He also points out that, as stated in the RNS yesterday, in order to keep on the right side of Endiama NML has ceased mining, and will concentrate near term efforts on exploration. This is what Endiama wants for the moment. It is believed that Endiama think it will be easier to get a major involved if there is no-one else on the kimberlite or mining in the area.
*******************************************
This is as in the RNS, really, but perhaps easier to understand...

Andy..at least you don't have to worry about it!

takahe,

No, and thank goodness for that!

I hope you are still in FDI!

Andy..yes, great news today. I should add a bit if/when they drop back a wee bit!

Takahe,

I sincerely hope they don't "drop back a wee bit"!

But I do hope you manage to add at the current price, because they do seem to have some good longer term prospects IMHO.

The numbers in the RNS are quite phenomenal for a company with a market cap of 70 million IMO, and De Beers must have sanctioned them, and if anything, they may well turn out to be conservative, we shall see.

Takahe - I think Gary's claiming "doing everything they are asked" is a bit like a villain wanting the OBE for public service for ceasing to be bad because he's been arrested.

I have maintained faith in these against all temptation, but the desert is becoming awful barren just now and I would so like to turn that stone into bread, if only to break the boredom. Do you really have good reason to believe this company can salvage any better value for its shareholders than the current SP, and over how long? Or should I exit with my remaining value and by myself and a couple of friends a decent dinner on the proceeds?

sd

stockdog- I couldn't say what the prospects are. I'm just trying to get some information about what is on the agenda and report it.

takahe - your information and other efforts are greatly appreciated. Just looking for solace, although have to admit I've only ever had a very minor holding so won't be on the streets. In fact, it's quite an intriguing situation. If NML can salvage any position with Endiama/Alrosa in C9 then it might well be a better result for less risk than we previously faced.

Needless to say, no reply from Shane Healy yet. Somehow, I don't think I'll get one, but you never know. It would be better, in any event, if he replied publicly via a clearly worded RNS.

sd

stockdog,

Correct, it would!

But I wouldn't hold your breath!

stockdog...Quite agree. He is paranoid about answering emails. He should issue an RNS to clarify matters. Quite a number of people have told him the RNS was crap!
I think I told you that he was surprised that I thought it was negative!
If you can be bothered, ring him...

In my opinion this is the important part of the RNS...

"The Company has acquiesced to Endiama's requests in the
interest of a greater gain in the kimberlite prospect."

The majority of the posters on AD^FN are still clinging to the hope that NML will be allowed either a free carry or to start the alluvial operations. A few are even speculating on a large sackfull of diamonds - for which there is no evidence at all. After all, if NML had such a sack they would have been obliged to report this price sensitive information to the market.

It seems completely ridiculous to ignore the true ramifications of Senator Johnston's visit. It appears quite clear to me that NML is pulling out the political big guns, because they are in deep trouble with Endiama. I would say that the biggest indicator of this is the fact that they were not allowed to alluvial mine after they were evicted off the kimberlite. This is not just because Endiama wants to research the kimberlites, but it looks like Endiama is 'punishing' NML for trespassing where they were not supposed to be and for not extracting the alluvial diamonds as they led Endiama to believe they would be.

Rather than fantasising about sackfulls of diamonds or free carry percentages, what you should be doing is trying to work out if NML has a future at all. You should be writing letters to NML and Endiama, requesting that they allow NML to mine the alluvials they were supposed to have been extracting since April.

Maybe a few of you, the richer ones that claim that their NML holding is such a small value of their overall investment, could start trying to get NML the finance they will need to start alluvial operations. Maybe a rights issue to the existing shareholders. Just don't expect all the directors or the Badenhorsts to participate IMO!

In my opinion, the working capital they raised for the Kimberlite work must be all but exhausted by now and I doubt that they'll be able to get the money from anywhere else. Indeed, you may find that the previous placees are now somewhat reluctant to stump up more funds now that NML is reduced to pitting and sampling work for the foreseeable future. Unless of course they were given an extremely large premium to the market price. Even so, if they do get such a premium, the 'mystery' seller(s) will probably try to take advantage.

Just over two weeks to go to F-day

That's Free-fall by the way.

Here's a prediction anomalous: from now on, NML outperforms your EPD. Market cap is just too low now and it will not go broke. EPD has a much higher market cap and little cash to support it, and its project does not light any fires in my view.

Frankly, all diamond stocks on AIM are dodgy with the exception of Firestone in my opinion. You seem to hold nothing but diamond stocks - you have got to have rocks in your head.

When a share has dropped in value as much as NML, it's not hard for a 'rumour' to push the share price up by a bigger percentage than some others. However, you are making a very rash prediction stating that NML will outperform EPD, given that you are rapidly approaching F-Day. The percentage drop is going to make a lot of people wince.

On top of that, I've been advised by someone I trust a great deal (unconnected with EPD) that they are going to perform so well, that a lot of NML holders will regret taking the mickey as they did earlier this year. In fact, I wouldn't be surprised for Agincourt to be so embarrassed that he never shows his face again.

Ha! The chance of Agincourt leaving is pretty low...

Looking forward to seeing your red face soon, anomalous!