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 ??

Well where did you last place it?!

Anom...seriously, I couldn't find it on the lists...had to do a 'search'
What a horrible day on the markets!

Absolutely dreadfull - I can't get over how much AFD has dropped. There's no reason for it, unless of course the MMs have some large T trades to complete or the news on AK8 is leaking. Even EPD is up and down like a yo-yo, as most other minexs are.

Your 650k trade today is most likely the second half of another 1 million dump. The 300k yesterday looke suspicious and even if it was a buy, which I don't think it was, the MMs have not been able to move very much on the rise.

...or the news on AK8 is leaking.
Whats that supposed to mean? You know something we don't?

>bundu

The only thing I do know is that the AK8 data is more than likely being held back for the AFD Finals in December. As the company does have to report another set of losses for the year, they can stabilise the price if they report some good news with it - like the AK8 data.

In the meanwhile, the lack of news and data is bound to cause the share price to drift.

Hi Anom..why do you think the AK8 data will be held back until December? It was supposed to be out by October....and the BK results are overdue, as well

You suggest that news about AK8 is a reason for today's fall though.

bundu,

The whole market is a sea of red today, NML actually did very well in comparison!

AFD got butchered like the rest.

Rumours on Advfn of a placing just completed for NML...we'll soon see if they are true or not. One poster claims to have been offered some at 1.35p

takahe,

That means NML received about 0.8p then!

It will be interesting to see which broker had these, and will give us an idea of the quality of the placing.

A placing of this type is ALWAYS at a discount to the market price ;and not at a premium. So in this instance i would suspect between 0.75 to 1p . l dont believe such a placing exists . lf it does it is not through thier usual channels . .. And then we get a scenario where all the 0.75 big volume buyers sell even at the smallest of movement, or even the going rate, and mms in an attempt to stop sells would mark it down yet furthur. To probably 0.5 to 0.75 ..... A placing is a double edged sword . ,,ln this instance i think the patient is to weak to survive such a trauma of yet more dilution ,,,,,,Out of interest has anyone got a position in this stock; and by postion i mean in excess of 2m + in a stock this size . Sounds a lot but only 20k or so ? lm intrigued .Thats all . @+ J

TFC,

A few on the other side have, only Takahe here may have a position approaching that size I would think, but I could be wrong.

I believe there is a placing going through, we shall see, results are due soon, so they may combine both.

TFC...I did send some postings to the PR chap today about the placing being discussed by some. He knows nothing of any placing, but points out that he is not party to everything going on.
I take it you are not a shareholder, so not really very interested? There seem to be very few holders on this thread
I don't think NML is dead in the water yet, but that is just my own opinion.

I have offered to shout Gary lunch in London nearer Christmas....he has accepted..

>TFC

There are several large holders on the AD^FN BBs. Some of them have continued accumulating even as the price was dropping. We were aware that one of them held at least 2 million shares, but she may hold a great deal more than that now.

I too have seen the evidence on the possible placing and it certainly looks valid to me too. It's my opinion that the placing will be announced at the same time as the finals. They will show the figures saying they made a loss, but will counter this by saying "Hey, at least we managed to raise a lot of cash to keep going".
I agree with Andy's analysis of the fund raising being close to GBP500k. The company needs about $1 million to keep ticking over. If they were to get the rumoured sub-contracting - which was not announced in the RNS, but 'clarified' to a shareholder by other means, then they would need cash to do the exploration.

As to the dilution price, well the various schools of thought. The negative pressure caused by the finals is likely to be at least as strong as last year and that was 27% down over a week. If this was factored into the current price, we would be looking at a share price of 0.9375p.

However, if you then factor in the discount required for the placing and the need to raise about $1 million, then the placing price would have to be close to 0.5p or 0.625p or 0.75p. This is how I figure it:

at 0.625p
$1 million = GBP555k
GBP555k / 0.625p = 88.8 million shares = 50% of the present share issue.
So a 30% drop on the finals, and maybe 20% drop on the dilution, you are looking at a base price of 0.625p

at 0.75p
$1 million = GBP555k
GBP555k / 0.75p = 74 million shares = 41.8% of the present share issue.
So a 30% drop on the finals, then the 10% drop on the dilution, you are looking at a base price of 0.75p

There is another way of looking at it though. By combining the bad news, the company may be trying to limit the drop to just the dilution value plus a small amount on the news of say 40% to 45%.

There is another point to consider. The company may not try to raise all the $1 million at once. They may try to limit the placing to $500k. Then by combing the news with the Finals, they might be able to limit the drop to as little as 35%. 30% from the bad news and 5% from the dilution. The price might still have to be 0.75p, to allow for the discount, but the numbers issued would only be 37 million shares or 21% of the present issue.

It all depends on how much they need. My guess is that they need the full $1 million. If they didn't have the funds available, they wouldn't be ready for the sub-contracting, even if they did get the contract. If they did have the $1 million, then it would also give them the ability to wait for long enough, just in case Endiama allows them to restart the alluvial mining.

Others will probably consider that NML will want to minimise the fund raising, to maintain a reasonable share price. But the big question is, how long can this company keep going with no revenue stream and plenty of calls on the expenditure?

All that talk of sub-contracting is purely hypothetical. No one knows what the current status is.

I believe the current status is that Shane Healy is in Angola with Senetor Johnson.

IMHO the situation must be serious for the senator to travel halfway round the world to a country where you need virtually every injection in the book to visit, giving up, probably, a week of his valuable time to do so.

I would think they will urgently be trying to repair the bridges damaged when they (IMO) foolishly tried to muscle in on the kimberlite without the necessary licence and permission to do so.

It will be interesting to see what the outcome of this visit is!

Senator Johnston is the Chairman of the Board. It would not be odd for him to be involved in discussions at this level. Endiama knew perfectly well that they were on the kimberlite area. Their permission included exploration, but no hard-rock drilling.
They were asked to move to let further core samples be taken by specialists. They have done so, in co-operation with Endiama and the others.NML are not in the least at loggerheads with Catoca . This is not in my opinion. It is what Healy said. It is not as combative as originally suggested.

Andy - at least he's there trying to do something. He could have more easily walked away with the rest of the team. You have to be in it to win it!

takahe - with respect "what Healy said" was a game we used to play as kids!

We'll just have to wait for the smoke to rise.

sd

stockdog...I had a long conversation with him.