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 ??

Sounds a bargain at the price it is at the moment, when compared to AFD in my opinion-

31 March 2004


NEW MILLENNIUM RESOURCES N.L.
("NML" or the "company")

Financial Report For The Half Year Ended 31 December 2003

Directors' report

Your directors submit the financial report of the economic entity for the
half-year ended 31 December 2003.

Directors

The names of directors who held office during or since the end of the half-year:

David Albert Lloyd Johnston(appointed 05.11.1997)
Nikolajs Zuks (appointed 27.6.2003)
Dato Azizi Yom Ahmad (appointed 12.02.1998)
Chong Kiat Lim (appointed 20.03.1998)
Datuk Fung-Chee Lim (appointed 16.09.1999)

Principal activities

The principal activities of the entity during the course of the half year were
the acquisition of Angola Resources Pty Ltd, engineering, planning, development
and optimisation of its metallurgical process for the recovery of Niobium and
geological work in Greenland.

Review and results of operations

The loss after tax for the half year ended 31 December 2003 was $308,196.

Angola Diamonds

New Millennium Resources N.L. acquired 100% of Angola Resources Pty Ltd that has
entered into a joint venture with ENDIAMA E.P. and MomboLDA (Angolan
Companies), which hold diamond concession C9 in Angola (Lapi Diamond Project).

The company's Concession Area C9, is located 45km North East of Saurimo, the
provincial capital of Lunda Sul.

Concession Area C9 is 323sq.km in area andis located 30 km north of the large,
operating Catoca diamond mine in the North East of Angola. Extensive mapping and
exploration has identified an inferred resource of 3.7 million carats. There is
potential for 8.7 million carats just in the currently known area.

Four rivers including the Rio Chicapa flow through the tenement, providing
sufficient water for operations. The sparse vegetation and mostly flat landscape
lends itself to both land and dredging operations with low production costs.

The diamond industry in Angola has been an important component of the country's
economy for over ninety years and has enormous potential. The Angolan Government
has signed the United Nations agreement to certify all diamonds produced and has
provided secure title to the tenement.

The company has put in place a highly experienced management team that aims to
vigorously pursue the exploration and development programme planned for the
tenements.

The corporate strategy of New Millennium Resources N.L. is to enhance the
shareholders assets by:

*Developing the Lapi Diamond Projects alluvial deposits in Area C, at an
initial rate of 10,000 carats per month.

*Establishing a sound financial and operating base for the company,and

*Acquisition and/or development of other diamond bearing areas, or of
income producing projects (either as owner operator or in joint venture with
suitable partners).

The company has purchased plant and equipment for a confirmation prospecting
programme. The programme is planned to commence in April and will take two
months to complete. On completion of the prospecting programme, the plant will
be put into production on a selected site. A modular primary production plant
with capacity to be relocated and expanded will then be installed to produce
diamonds from the alluvial deposits at the planned production rate of 10,000
carats per month. The Lapi Diamond Project is then expected to generate an
initial cash operating surplus of US$1.2 million per month (NMR's share will be
US$0.6m).

From commencement of operations, pay back of start up capital is expected to
take six months based on a production rate of 10,000 carats recovered per month.
After five months of production, it is proposed to increase production by
increased utilisation of available plant, in order to increase profit. In the
longer term, the project will explore and develop additional kimberlite pipes
known to host diamonds.

A planned exploration programme will convert resources to reserves and identify
further resources during the initial two years of production. Exploration
potential has the capacity to significantly increase alluvial resources and
develop kimberlite pipes that have been identified on the concession.

Greenland

During the half year work has continued on the Safratoq Project. Work completed
has included surface trench sampling of the Safratoq # 2 (SU2) anomaly, a
technical review of the potential to identify additional mineralisation and
optimisation of the metallurgical process.

Trench sampling across the SU2 anomaly has been completed to identify the extent
of the Niobium mineralisation and provide sufficient data to assist with
planning ongoing drill programmes to define additional resource tonnes.

The technical review of work completed has highlighted that drilling completed
on the Safratoq Project has not adequately defined the limits of the resource
and potential exists to significantly increase resource tonnes.

Metallurgical test work has optimised the extraction method required to process
Safratoq ore. The extraction method uses technology currently available and will
not require NMR to invest in unproven new process methods.

Ongoing drilling was not undertaken because it was not possible to resolve the
existing problems with the drill rig prior to the exploration season.

Hudson Resources completed the first stage of its diamond exploration on the
Sarfartoq licence. Micro diamonds were recovered from the three 18 kg samples
collected and tested.

Subsequent events

Subsequent to the end of the half-year, the company finalised the acquisition of
100% of the issued capital of Angola Resources Pty Ltd. This was satisfied by an
issue of 18,000,000 shares at market value, 10,000,000 options at an exercise
price of $0.20 within three years of issue and a total of $207,280 (US$150,000)
cash.

In February 2004 the company raised $1,473,033 through a private placement of
21,043,327 new ordinary shares at $ 0.07 each. These funds are to be used to
meet working capital requirements and to fund the Prospecting Confirmation
Programme on the Lapi River Diamond Project (Area C9 Concession) held by its
100% owned subsidiary Angola Resources Pty Ltd. As at 31 December 2003 the
amounts invested in Angola Resources Pty Ltd are shown in the Statement of
Financial Position as "Other financial assets $100,000" and "Receivables
$378,065".

At the annual general meeting held on 12 January 2004 the shareholders approved
the issue of 8,000,000 options to directors, exercisable at 20 cents per share
up to 12 January 2007. At the date of issue of this report, the options have not
yet been exercised.

Likely future events

The likely developments in the operations of the economic entity and the
expected results of those operations are as follows.

Equipment for the Confirmation Prospecting Programme is planned to be on site at
the Lapi River in Angola during April. The bulk testing programme is expected to
be completed within six weeks and the plant utilised for the programme will be
put into production on a selected site. The feasibility study will then be
adjusted allowing the Mining Agreement to besigned and a primary production
plant will be installed. The prospecting equipment will be integrated into the
primary production plant. Production is planned to commence at the rate of
10,000 carats per month. The work programme for the Greenland tenements will be
defined in April 2004.

David Albert Lloyd Johnston - Chairman

thats cool test, no probs.

test, i added some more friday, can't be far off rns now, should create the start of a fruitfull endeavour, the last news was excellent and theres more now coming very soon.

You seem to know a lot about these Lee Wink... I bought some at 5.5p the other day... I like the mining stocks, I have done very well with them in the past. What would be a fair price for these then.... your gut feeling prediction???!!!

hi legend, sorry to reply late, back off holiday now.

ok, and yes without being bigheaded I have opened a hardcopy file on NML now to keep over the years i'm in them, and spent countless nights perusing every word and i've taken further expert advice and knowledge on the accounts side, I myself am perfectly happy to be in this now.

I see youve bought some too, good for you, ive bought three lots around the 5p mark give or take, and to me (my personal feeling) I don't see any problem with a good return this year and onward for years to come.

I cant say again X pence by christmas, as its not my style, but if you want in come in now, as I feel once the next news on prospecting will start the incline.

DYOH+R

cheers, lee

News is/was expected on there new mine start end april, so were overdue now, but the trading is heating up now with no sellers.

Nice research testex... I hope the 94p prediction comes true... in time of course.

Leewink, I can only think that overdue results is a good thing as it means there are actually some results to evaluate??!!

it's all good, i'm happy.

why is there so few trades these last two days

its been up 30% the days before, so I suppose its just cool off, it is nice to see a good movement as we come toward the prospecting stage which is now overdue for a news release.

NML has news, just proves its all getting closer everyday now.

the phase of "from exploration to exploitaion" seems to have arisen now. This has been taken from the latest rns just published moments ago.

why no trades yestaday and none this morning, whats the latest news update.

Aldwick, if ya in this don't panic, if ya not don't try to scare people, time between news has effects on all shares, some trade less, some drop which NML hasn't, its only daytraders that panic.

Trading does not mean a thing to me, mid and onto longterm will see me fine.

As for trading as to your above post, I take it you can see we've got alot for this share friday, bearing in mind you think its quiet, it is getting noticed now from a quiet no go-er to a great company, with new management and a prosperous new future in diamond mining to start soon.

The mining will initially start at half a million usd a month income and then after several months stepped upto 1 million a month, if you do your maths you'll see that the present price will be non-existent very soon, ie this year soon and on.

come back to me say december and comment then, as the mine will be in full swing and 20,000 carats a month will be mined, of course by then possible acquisitions should have been made and jv's struck, the latest RNS's state these comments.

lee

with your friend ? TESTEX ramping the shares do you blame me for being scared lol.Remember Aerobox?.

.

aldwickk,

If you actually research the price testex came to on this of 94p, i dont think your find he ramped them, but was actually being conservative.

With regards ARX i believe testex bought at 27.5p and sold at 37p that was not ramped either and also told arx thread that he was out, i think that was sensible of testex to take the profit rather than trying to be greedy, looks like he called it right.

Regards.

Testex nikki 1pnumber4 dickhead.

what price were ARX when you told the AOL thread you had sold them 25p? sorry for spoiling your thread leewink.