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 ??

Thanks Eric..Hey I thought you were going to the traders day on the 8th April: I can't see your name on the list. Are you going to Charlie's wedding instead? Bought some more of these last week...thinking of getting a few more today depending on price. A few of my friends are now overweight (not my cooking) on NML now. We sat discussing this over lunch yesterday the thinking is that we know the diamonds are there. The market cap is ridiculously low and this could easily 5 times our money in a short space of time once mining commences; it is just a game of patience until then.
Di

Again I couldn't buy any shares online with Selftrade. I managed to buy more at 6p exactly so a big increase on a week ago. Because of the NMS being so low my trade will not show up for an hour. Now all I need to do is sit and wait.
:-)

Well done, Di! Glad you are bringing di-sciples on board! lol! Short of funds at the moment with having to fund house deposit for daughter in Thailand but its nice to see the holding in profit. Any news from Angola? Great if the weather holds and they can crack on with pulling the diamonds. Presumably we are counting on delivery on just one promise pulling the city around. cap. of 7.5M is ridiculous against potential and your 5-bagger sounds eminently reasonable. Having to play my di-ary short at the moment whilst Mary recovers from her op. Amazing that we passed Hastings and Eastbourne, crammed full according to news last night, and were near Chichester Hospital when the pains came on - gall bladder out in 3 days against the Eastbourne lady who had waited one year. Give the credit to her daktari (are you a James Redford fan?).

Eric

Hiya Eric..After buying more NML I am now overweight on it but it is a gamble worth taking I feel. Over on the other side they are just waiting like we are; they are speculating on news but nothing more. If you look at the 1yr chart there has been some spectacular spikes after news.News that mining has commenced could easily double the price of NML and once they begin and are digging diamonds successfully 5 times your money will be reached very quick. It's just a waiting game until then. tic tock tic tock!
Sorry about your wife Eric I hope she gets better soon. No I am not a James Redford fan and I have only heard of Robert Redford and I wouldn't sleep with him for a million pounds!
Eric you need cheaper children or you will have nothing left in retirement.
Di

Eric,

It must have been St Richards hospital,Chichester. Very good hospital.

Thanks for the posts, Di and Aldwick, which I see were last Friday. Am supposedly retired, Di, though, if the taxman isn't watching, make a nice bit on the side with this trading lark! Excellent hospital, St Richard's; if all our hospitals were of that standard, and the care and housekeeping of the same quality, the NHS problems would soon diminish. Mind, one thing I wasn't warned about was that, if you leave your car in an isolated part of the South Downs, it will be broken into - lost a wallet (stupid boy leaving it there) and mobile whilst walking the dog. The good thing is that I found out that an attempt had been made within an hour or so to use a card at Morrison's at Horndene, Hants. The police reckoned it to be a good lead as there may be CCTV footage - evidently a popular crime to get drug money.

Do we know how the weather is in Angola? Tried to get the NML website but can't access it.

Eric

Eric,

Try these links, still quite a bit of precipitation around it seems.


http://www.wunderground.com/cgi-bin/findweather/getForecast?query=saurimo

http://www.weather-forecast.com/locations/Saurimo.forecast.shtml

So, it looks like Saturday morning for a bit of a dig then, Andy. Plenty of sun cream and bring a hat.

SD

stockdog,

lol!

Suncream and wellies look to be the order of the day in Saurimo, but there have been some clear days recently, so I presume progress is being made, despite the silence form NML.

I see on the 'other side' that Shane Healy will be in London next week, so maybe some news will be forthcoming?

Andy: thanks for that. By the way, if you put the address in the link and press insert website link, we can go directly to it.

Is it wise for Shane Healy to visit the city? After all, he is an Aussie earth-mover! Is he related, I wonder, to the wicket-keeper; mind, he had a safe pair of hands and could crack a few sixes. I think the chairman is a Judge and he could fair better.

Eric

Eric,

Ok thanks, have done.

http://www.wunderground.com/cgi-bin/findweather/getForecast?query=saurimo

http://www.weather-forecast.com/locations/Saurimo.forecast.shtml

Thanks, Andy. Seems to have been heavy rain in most areas with thunderstorms to come! Which town is Rio Lapi nearest to? Do we know how critical the rains are in relation to the use of their earth-moving equipment?

Eric

There was a fascinating programme on TV recently - one of the cable doco channels about heavy mining earth-moving equipment (yes, I know sad life, but at keast it didn't rhyme).

I imagine the rainy season causes a fine slurry to form in which these machines just can't function, let alone the megaton dumper trucks ferrying ore from cutting face to plant.

It is a concern which we need to watch.

SD

Eric,

I use Suarimo as the refernece point, which is around 30 miles away I believe, so the weather may vary a little from the forecast that we can see, although the company have yet to confirm mining has coimmenced, so I imagine the weather has not abated yet.

Shane Healy (FD) is in London this week, so maybe news later this week?

I still think they will raise more money, via loan or placing.

Andy

Back in October NML had arranged $2.85m of funds availability or about 1.5m. They said that they expected to be cash flow positive early in 2005 which seems optimistic. If they are looking for funds by a placement they will need the price to move higher first. That would, no doubt, be achieved by a positive report on production and achievement of the sample figure. This would also minimise the dilution of equity. Recent cases of a placing immediately following a price hike are SEO and GMC - pretty obvious really. It does seem likely that Healy's visit is associated with fund-raising. I assume the last tranche was raised in the US. My prediction is that (a) he talks the sp up; (b) this is quickly followed by a placing with London institutions. Do others agree because it would indicate a buying opportunity now?

Eric

Buying at 6p offer can't be a bad move - I doubt it will go lower, unless there is bad news, like "we haven't started yet". Not sure what Healey can do to pump up the price. Since they would be going back for more after promising cash positive by early 2005, it may that he's placing at the current price with a promise to ramp it up afterwards to make the placees happy.

Haven't checked their burn rate, but it must be peaking with all the gear and crew ready and waiting for the off as soon as the sun shines.

NML on my top up list, funds willing.

SD

SD you should not have said those words about NML not going lower than 6p...what did you do??? Bad Dog! Lots about this share on the other side. SH has been in London this week and everyone was hoping for good news. Apparently last time he came to London the price dropped too. SH stay in Africa PLeaseeeeeeeeeee. I was tempted to buy more at a lower price but I am already overweight so I thought it would be dangerous. Little selling so the chances are it will go back up next week I hope Gulp!!!All this will be of no consequence once mining starts and lots of 'a girls best friends' are found. How do you do an anti rain dance???
Di

Di don't want to be mean but are you sure your dancing will help? :)

Sorry for bringing bad karma on the SP, or was it SH himself crossing the equator without doing the correct dance?

Since I want to top up to a fuller position on this one, it could be a good opportunity, but a) I've been out all day soo missed the fun till Monday and b) it is a bit of a nasty spike down to its January low of 4.5p for no apparent reason, albeit low volume and no single heavyweight sell.

Perhaps, an extension of my above theory - the MMs are deliverately marking the price down in preparation for a giveaway placing for more cash because they can't get started until you start dancing.

Zummat's agoin' on - I can feel it in me waters.

Re-reading the latest releases from their website, they should have started production in late Feb after shipping 40ton excavator and 2 X 25 ton dump trucks from S Africa to Angola (did they ever arrive?), so now a month of expectation, not to mention cash burn, behind the game. Has SH been summoned to explain himself to the city? Has a leak from that meeting found its way to the MMs bracing for a big sell off?

On the other hand, have the longer lasting rains (as per Andy's info above) washed all the diamonds away. Will the $112 operating profit per carat of the 3.7 milllion estimated and 8.7m potential carats be reduced or diminished by a month or two's delay - I doubt it. But a cost of capital effect will occur with the delay.

If no news next week, a concerted round of emails to the directors to find out what is going on would be in order I feel.

Should I buy or should I sell.
My heart says buy, but my head says, well,
Wait and see. But in the end
A diamond is a girl's best friend.

from the desk of the Dog Laureate

Stockdog,

The excavator and two dump trucks are due onsite this coming Sunday.

My take is that SH is here to do a fundraising exercise, either a placing or convertible loan, time will tell if I'm correct.

They have pretty much confirmed that the weather is still hampering their operations, so maybe an April start is now on the cards?

Their first objective is to fulfil the 5000 carat obligatory parcel for Endiama, prior to their mining licence being granted by the Angolan govt.

I will not invest unless either the price tanks due to a placing, or confirmation that the mining permit has been granted. I may miss a few percent, but I will also eliminate some of the risk in the process IMHO.

Thanks, Andy. Where did you get info on trucks arrival?

Is there a time limit on the first 5000 carats for Endiama when they might lose the option on the licence?

Your entry strategy seems wise. I shall probably apply it to my top up ambitions.

SD