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 ??

'Just phoned SH -

" He has just confirmed that the 5m has been placed."

Confirmation of the placing should have been in a RNS, not to an invester who happens to get to speak to him by phone.

It WAS confirmed ...in the RNS of 6/12/05.

Bundu,

It WAS not confirmed that the placing had been taken up in full, if so why did he confirm it over the phone then ?

bundu- I was just about to say the same...6/12/05
As far as I am aware,there was a complaint to the Regulator( and I think we all know who that was...Anomalous was boasting that he had put in a complaint) and the Nomad had to act. NML have presumably refused to say yet who the buyer of the new shares is and Daniel Stewart have had a falling out with Healy

aldwickk,

Exactly!



Stockdog,

It does look grim, and it will be interesting to see if they can arrange another NOMAD within the time allowed.

takahe - 10 Jan 2006 17:24 - 1843 of 1844
bundu- I was just about to say the same...6/12/05
As far as I am aware,there was a complaint to the Regulator( and I think we all know who that was...Anomalous was boasting that he had put in a complaint) and the Nomad had to act. NML have presumably refused to say yet who the buyer of the new shares is and Daniel Stewart have had a falling out with Healy

Technically incorrect Fiona. I reminded the regulator that the company had made an issue of 1 billion shares and that this value was far greater than 30% of the share capital of the company and that therefore under Rule 9 of the City Code a takeover should be declared.

The reminder was to ask the AIM to get on the phone to the Nomad and tell them that they needed to remind the company that if they failed to declare the Takeovers and Mergers Panel could take action against them.

It was quite obvious that the 1 billion shares was not to many individuals, but very few or even one. Under those circumstances, there was little doubt that a takeover was on the cards and given the percentages, it might even become/involve a compulsory takeover of the remaining private investor's holdings.

This is not all though. There had been a complaint to the Exchange many months ago, suggesting that there was several or even many undeclared share transactions by notifiable parties. Given this fact, the AIM was acutely aware that the any failure to declare by the 1 billion share placees could raise the matter of undeclared transactions once again.

Amities . Never was convinced by the calibre or validity of the board . Both Chairman and CEO were pure novices . The project was doomed before it started . . The only place this utter piece of Aussie tomfoolery is going is from suspension into temporary administration ; and for the sake of shareholders, i hope that occurs sooner rather than later . Now that need not be a bad thing. With bankruptcy protection, & the immediate introduction to the board of a administrator and a top mining specialist/ engineer , something may be salvaged from this utter sorry story. At least s/holders will know the true state of the company ..lf 5m is indeed raiseable then a legitimate placing could be arranged .l doubt the money is anything more than Shanes imagination . But when an illigitimate, illegal placing of 1 bn shares of no value has been attempted by the board one can but rue and ponder > What else is left ? <.. ,

Anomalous..technically incorrect..it was still possibly your doing.
Considering you are not even a shareholder, you have a strange obsession with this.
I hope you are happy. If EPD shares go down the tubes, as I quite expect they will, I will try to behave with more dignity than you...that won't be difficult..

From ADVFN...Fugu
Well, fwiw...

Somewhat hacked off with the lack of news from this end, I thought I might try to speak to Senator Johnson, and after a bit of detective work, found a number that was answered by the man himself. I cannot say he had anything startling to reveal (I'm sure he wouldn't have anyway), but the conversation did reassure me that the negative spin bandied about recently was unwarranted. The important points he made were:

The suspension WAS at the companies request due to being in "very late stage negotiations" on the reverse t/o and NOT because of some poisonous troublemaker OR the split with Daniels Stewart.

He seemed a little suprised that the owner of the 1b shares was not public knowledge.

The split with DS was due to disagreements about the way the t/o was being handled. Their resignation was no suprise and they are "well on our way" to appointing a new NOMAD.

I asked why alluvial mining had ceased on C9 - he said it had not. When I questioned the RNS to that effect he told me "There is a thin line between exploration and mining." Yes, you CAN hear a smile on the 'phone...

He confirmed he had not been to Angola on the trip with Shane.

He confirmed NML do not trade on any other exchange.

He stated that he still believes the company's actions to be in the best interests of the shareholders (sounded quite offended I would suggest otherwise!)

I asked if there was anything he'd said he would rather not have appear on a public bb - "No, I haven't said anything I shouldn't"

Overall impression - relaxed, open, confident. OK, I'm not forgetting he IS a politician...

another post from ADVFN..
as a recent investor based on a broker's recommendation I got the following story about the suspension. NML wanted to take over Kassia who own kimberlite licences in Angola. Because of the respective valuations NML issued the billion shares to avoid it being a reverse takeover under aim rules. NML severed links with Daniel Stewart, who did not agree with this policy, saying DS were going to start a resource sector 9 months ago which has not happened. NML will choose a new NOMAD within 10 days. The takeover is going ahead and NML have been taking to a large miner whose name is similar to a MUFC centreback about financing exploration. the broker told me not to worry.

Any MUFC surpporters on this thread ?

On a mere note of levity and furthering your footie similie .Are you sure the large miner to whom NML have been in negotiations does not more suitably rhyme with the name of of ex Liverpool and England centre back . Mark Wright . .? Or even ex Liverpool and England midfielder-Jamie Redknapp @+.. ..So you reckon Rio are taking an interest/ takeover ?.. lnteresting , l agree but why would RIO need NML ?

Is Rio a centreback ?

l believe so Roly. @+ ..Do you still hold mon ami ??. ..i was under the impression RIO were more interested in Petra . But who knows anymore. ? ln addition RIO have thier own sites now

Jamie,

I think AFD is a better short term buy then FDI, waiting for one of they 70+ spikes to sell, regards NML i sold them months ago.

TFC..I know that Rio Tinto had expressed an interest in the licences that NML already hold .NML have been trying to get a deal with a major for a while.
It is only a possibility..
From what Senator Johnston said to Fugu , there should be some news today...what, I don't know...but I like to think that the nice people here (!) would want to know something might be happening.

Good man Roly . ln conclusion all i will add is that while i quite sincerely wish Takahe and all holders in NML the very best of luck it cannot be denied that the saga of NML has proven thus far quite dupicitous and have stumbled from one chrisis to another . RE-Takeover -. My take being that RIO will wait until NML are in a fiscally untennable position; and then purchase the licenses at a discount . @+ J ...But one never knows . They may prove to be a dog that barks . But at what ? The moon ,,,,,, All the very best @+ J

Thank you, TFC..it has certainly been a saga.
We shall await the next chapter.....

from Rebtif...
'Pacific Continental tried to sell me this share before Xmas but had not funds. They called today to say a new broker is being appointed next week - a bigger outfit and the other reason for suspension is their takeover activity and tehy believe it will be relisted within a week.'

from Fugu
20 Jan'06 - 13:44 - 4412 of 4418


Evening all -

Have spoken to both Senator Johnson and SH this evening, and have managed to clarify a few points. Firstly, the suspension - this WAS at NML's request, athough it did follow the Nomad's advice to do so while the regulatory - NOT financial - problem (is it/is'nt it a reverse t/o under AIM rules) was sorted. Some two hours after the suspension, the Nomad resigned (pretty much as Shane described in Growth Company Investor) leaving him with the problem of finding another Nomad before anything else could be resolved. On this issue, and I quote with his permission, "I am 100% confident that I will be announcing a new nomad on or before 6th February" He expects the suspension to be lifted immediately after, and the name(s) of our new 80% shareholder(s) shortly after that. He did not want to commit to a timescale for the Kassai deal, but thought 3 months should be the maximum.

C9 is not dead; both alluvial and kimberlite mining are still possible there in the medium term. The move to the kimberlite was not, in SH's opinion, a gamble but a necessity. All I can say on this is that I accept his explanation, so please do not ask further.

I don't think we can expect anything exciting from the AGM (this is entirely my opinion, not something I was told), but nor do I think we are dead in the water. I am still hopeful of seeing a profit on my investment one day - but maybe not before April!