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 ??

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.

takahe - 25 Oct 2005 11:21 - 1544 of 1546
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.

takahe - 25 Oct 2005 12:20 - 1546 of 1546
stockdog...I had a long conversation with him.

If they were not at 'loggerheads' then would you care to explain your statement on another date that Endiama demanded that Cross and P Badenhorst were dismissed?

Would you also care to explain why Endiama moved NML, if

"Endiama knew perfectly well that they (NML) were on the kimberlite area"

and the RNS states that Catoca were exploring the kimberlite at the behest of Endiama, NML took it upon themselves to cause Catoca to cease exploration, when NML established their equipment on the kimberlite?

If they were there with Endiama's knowledge and approval, then why make a statement which indicates that SH said that NML were trespassing?

It seems perefectly clear to me (especially after the communications you posted from SH), that NML were 'trespassing' on the Kimberlite and they were not supposed to be there.

If you read that carefully, Anom..I said they were not at loggerheads with CATOCA.
NML had permission to explore, but not to drill hard rock. The situation presumably changed when more drilling was requested by Catoca and it became necessary to clear the decks. I don't know all the ins and outs of what happened because it is complicated by another factor. This is Angola...not Surbiton...
All will become clear in time...probably.
That doesn't mean I know what is happening..because I don't!

Senator Johnston is a Barrister and solicitor so perhaps he is their legal eagle for any negotiations.
No point in speculating what might happen since there are a few variables possible.

takahe - it was not your word I was doubting.

stockdog...Thanks.. I hope we'll get some word soon, so that we know where we stand

takahe - respect!

stockdog..lol

Takahe...thank you for keep posting on NML, there are many of us, I am sure who like me are still in NML and read your comments but as there is not much to say at the moment haven't posted recently. There is still potential but I must admit this looks much risker than it did. NML is not worth selling at this point, not even for SD's slap up meal, so we might as welll sit and wait. You certainly need alot of patience :-(
Di

Morning, Dynamite..to me, it all hinges on them getting the JV which they seem to think they have a good chance of doing.Healy has always said that they are trying to 'do a Petra'...that has not changed in its intent.I had a chat with him recently which was partly me whinging (a lot) about the way things have gone over the last year and asking why the hell they had done what they did. He is adamant that they are trying to maximise shareholder value by this course of action. Obviously, if they secure a JV, it will have been worth the wait...I think!
There are a lot of us on ADVFN..I post there as mclellan but had to choose a different name for here because the name was taken...who hold a lot of shares between us.Do visit..it is free to register. You'll be able to see Anomalous's latest lovely cartoons of vultures picking at bones etc. Lovely man..such tact, empathy and gracefulness...!
Gary thinks there will be news before too long. What it will be, I have no idea ! Shane has been a busy bee lately, apparently. As long as we are not the ones that get 'stung'!

Hi, Di. At this point I'll settle for a bowl of moules marinieres and hope to find a few black pearls in them to stick on my plastic collar. Until the JV, that is, that mythical beast before whom all bow - then I'll want the full diamond studded leather version.

Keep well

sd

Takahe...yes I do look at ADVFN although not for a week or so... I don't bother with Anom and I don't know why he bothers either...he doesn't even have shares. Must have a few screws lose.
SD...I still live in hope of being able to give you that diamond collar...better than a bowl of moules...not keen on them anyway. keep cheerful.
Di

Dynamite [Go to Dynamite's website] [Send an email to Dynamite] [View Dynamite's profile] - 26 Oct 2005 11:36 - 1557 of 1557
Takahe...yes I do look at ADVFN although not for a week or so... I don't bother with Anom and I don't know why he bothers either...he doesn't even have shares. Must have a few screws lose.
SD...I still live in hope of being able to give you that diamond collar...better than a bowl of moules...not keen on them anyway. keep cheerful.
Di

Of course I don't have shares in NML you silly man. I'm not that stupid to keep them when I found out that they were misleading the shareholders last year. You would have to really have a screw loose to hold shares in a company that is crashing in value.

In Anom's OPINION, they were misleading the shareholders.Obviously, at least 20 shareholders do not agree with him
He is motivated by pure spite. Check out his vicious, sneering , jeering posts on the NML threads to see the calibre of the man.