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 ??

Di,

Well, looking at the chart, the price suggests September to me, I wonder how long they can hold back an announcement for?

Generally, placings are at a discount to market price, as an incentive, so IMHO that would have been done when the price was at 3p or more.

I'm surprised nobody knows which brokers handled this.

Di..it MIGHT have been the Malaysian Investors...they appear to be very supportive to NML. According to Healy, the big investors are happy...

Andy
The deal is reported in the RNS -

"The Company also announces that it has placed 48,608,331 shares to raise
GB662,000 (41 million shares @ 1.1p and 7,608,331 million @ 2.77p) to provide
working capital for its exploration programme in Angola. It is expected that
these shares will be admitted to AIM on 4 November 2005."

The only reason that makes sense to me for hte two-tier price, is new placees wanting to buy at par, whilst the supplicants paid a premium to show food faith and to give then fewer shares per 1 paid. What else fits the facts - that they each paid a pro rata proportion ofthe two prices - why - just adjust it to a different single price?

Any other explanations from the experts?

sd

SD,

I know, but I can't fathom the difference in price.

Takahe's view that some people in Malaysia happily paid nearly three times more than the market price, and the other placees does not make sense.

They may be risk takers in the orient, but they're also shrewd, and certainly not charitable institutions!

It is not my VIEW...nothing as definite. I said MIGHT. As big holders already ,they are the only group I can think of that would stump up more money.
I don't see that it matters where the money came from, anyway. He's got it.
I hope he uses it wisely.

Takahe - it matters to me to know what pressure had to be exerted on new investors to come on board, as opposed to embarking willingly as investors on this less than proven enterprise.

sd

takahe,

I don't think there's even a chance that anyone MIGHT have paid three times market price for any placing shares!


SD,

I would like to know more about this deal too, it needs explaining IMO.

Don't forget the 13 million shares issued to "clear expenses" have effectively covered money already spent, so some real dilution has occurred here too.

Andy - shares for services of the same order of magnitude as the issued share capital (13m ex. 165m) is a very expensive way of paying - unless you think the value oif each share is going to go down. What we don't know is what value was ascribed to each share (cost of services divided by 13 milion). Was it a good deal? If so, for which side of the trade?

Anyway whoever it as now has 8% of our company and its future growth - must have been some service!

sd

SD,

Yes I noticed the RNS failed to say what value had been ascribed to these shares!

They are, of course, a potential overhang, unless the recipients decide NML are worth investing in of course. The fact that paper was issued for debt may not support that belief, we will see.

Andy..obviously, no one would want to pay more than they had to ...but he got the money from somewhere.
I'm more interested in what is going to happen next.

takahe,

Well he has said Novemeber, so the clock is already ticking!

In a place such as Angola, that sort of timescale could prove to be challenging, but he may already be halfway down the road to a deal, so we shall see.

He'd have to be daft to commit himself to a time frame if he can't meet it, after the past experiences. Time will tell..His RNS did hint of something in process.

takahe - thanks for the info

sd

stockdog..you are welcome..such as it is. I think we need a shareholders' support group!

The 62 million newly issued shares trade for the first time today.

I believe that makes 236,000,000 shares now in issue.

Well done Andy. Did you work that out all by yourself?

mjr1234,

Yes, as the battery on the abacus is still charging.

LOL

Mes amities a' tous de vous/ Slt . Je vous previens -: Mefiez-vous des apparences.....je demuere a' votre entiere disposition pour toute information complementaire ! / ...Now Healy may have more degrees in bean counting than than anyone in the bean counting factory ,,,,BUT he knows jack shit about mining . ABSOLUTELY nothing !! This is his maiden venture and his trite, cavalier and anbivilent smart arse comments regarding having not lost a cent unless you have sold makes me want to give him a poke in the eye with a shitty stick ,,,,,,,As for the most the recent placing ? This was most certainly NOT completed through normal channels; as all proceeds ended up in an ozzie bank with sourcing, l am led to believe , from Far Eastern quaters .Once again cashburn had reduced NML to near bankruptcy . . Another wasted 600k in my mind . AFGOL, the excellent African eco /socio/political site more than suggested NML to be have status little more than squaters on the c9 concession . . Methinks their mining infrastructure and all equipments have been fully mortgaged and insured to the hilt. . .. @= ..With an 0.8p / 1.20 spread how can anyone justify / or argue , the case for NML .... They say hope springs eternal ...l sincerely hope it does . @+ J

takahe -

"I think we need a shareholders' support group!"

Do you mean a grooup of shareholders to support the company, or a group of others to support the shareholders?

TFC - welcome to the board - you just pushed the bid up 37.5% - should I sell now?

sd