Millennium Resources NL is a mining company with operations in Angola, one of
the world's major diamond producing countries.



In 2003, New Millennium Resources NL entered into an agreement to acquire 100%
of Angola Resources Pty. Ltd. (Angola Resources).

The company is currently developing its Lapi Diamond Project in Angola, in
Southern Africa, which will initially produce diamonds from an alluvial mine
that is expected to generate an initial cash operating surplus of US$1.2
million per month.

Extensive mapping and exploration has identified an inferred resource of 3.7
million carats and the tenement has the potential to deliver of profit of
US$112 per carat recovered. There is potential for 8.7 million carats just in
the currently known area.

This places New Millennium Resources on the verge of becoming a prominent
producer of some of the world's finest diamonds.




Corporate website : http://www.new-millennium.com.au/index.php

Please yourself- I'm just passing on the update I received.
I don't like the situation either...not one bit...but having spoken to Healy recently, I do believe he is trying to sort out the mess created by John Cross and restore some shareholder value. He pointed out that he could just have given up...and that he has not received any salary since they de-listed.

Andy- post 10 ...how do you know they spent 2million? He pulled out of the deal.
Happy new year, by the way.

takahe,

Many thanks, and a Happy New Year to you too!

Let's hope it's a sparkling and prosperous one for all of us!

Sorry I have only just seen your message, and cannot remember how I heard they had spent the 2 million, to be honest, but I wouldn't have posted unless i believed it to be true, it seems so long ago now.

The recent communication looks good to me, if Shane can return 1p per share, that is a lot better than I thought possible, and many people had averaged down, so this would substantially reduce their losses.

Holders of NML may be interested to know that an action group is being formed to try and obtain more information as to what has happened to shareholder funds since the company was delisted.

If you are interested, the group would be pleased to hear from you.

Further information can be obtained by clicking the link HERE