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 ??

That is the million dollar question. Hopefully they will find some pronto.
Di

They have already found some very large diamonds,
see previous RNS's.
I suspect that they have also found many more diamonds
since these large finds were reported.

I know FP soon to be Filthy Rich if you hav eenough NML shares 11 & 19 carats. It is a new batch of diamonds we now need:-)

Hi everyone - you can't be left alone for two minutes! Was away Friday and today - returning determined to top up at <4p - but alas missed the boat.

It seems a bit odd to me - March 31st final results say mining to start by end of June. 2 days later they actually start and announce this two more days later - smacks of connected parties wanting a drop in price to get in cheap for the high ride. Don't believe they should be allowed to issue such misleading statements in their annual accounts.

So happy they've started, but highly suspicious of the timing of recent announcements.

SD

Well SD the important thing is that the price is back up and hopefully will go up lots more now:-)

di: sorry not to have been around to share your pleasure as you were vindicated for your faith - pseudo-religious perhaps; probably the allure of the diamonds - aren't the streets of heaven paved with diamonds!

Just have the original 100K share stake. Have been out all day so missed the fun but one really needed to be increasing the stake before the announcement. Don't agree for once with sd as they still had hurdles to cross: the arrival of the second batch of mining equipment at Easter and the government inspection. Now you note that Endiama, the state-owned diamond monopoly who own 51% of the project, did the inspection. Nice and cosy! Endiama have said that NML are good boys and given them some test data for a different part of the site which is clearly now beiong explored and analysed.

You called the close very well, di, and may well be right about the 20% tomorrow. But that still leaves the cap. at only 7m, going to 8.5m. Market might well wait before a further upgrade but I can understand you topping up. It also seems somewhat unlikely that a further fund-raising will be required, or do you see this announcement as a pre-cursor of calling in additional funds. Opening out a second production front would be justification in itself.

Eric

Stockdog,

I agree, their statement on Friday looks misleading after the RNS today, and it DOES look as though it was designed to lower the price!

However, they have NOT confrmed receipt of their mining permit today, nor the 5000 carat parcel needed to obtain it.

What they have confirmed, IMHO is that they have commenced mining in order to procure the 5000 carat parcel required in order to obtain the mining permit, slightly different!

So you could argue that their statement last friday is valid, albeit somewhat confusing.



Di,

The 62 CPHT is from 30 years ago, the local garimperos may have been at work since then! Personally I will be waiting for NML to announce the grades, rather than rely on such out of date ones.

Various articles about NML in the newspapers today, mostly because of the huge rise yesterday. However the Express said that NML sparkled by gaining 1.88p and that dealers expect further good news. Looking good this morning at 5.5p
:-)

A few lines also in the FT today.

Up tomorrow now those T sellers are out of the way?

Good post andy,

I am waiting to see quantities before buying in... for some reason, something doesn't stack up about this co... hope I am wrong.

Di - looking good, but sadly on not enough stock for me - do you reckon the offer will fall to 4p again? I doubt it.
That's what comes of taking a long weekend and leaving my Mac at home like a good family dog!

SD

SD...don't you have any NML? In have one lot I bought at 6p prior to the drop but then will it really matter in a few weeks/months time. Be a good dog and buy some more anyway. woof woof.
:-)

Di: I do hold some - about two thirds of where I would like to be. But I'm just being picky about the price I buy the rest at - always makes me happy to be clear of my dealing costs/spread as soon as possible. Anyway 6p is a lot more than 4p - 50%!! I'd be happy with that much profit on many holdings I have. It irks that I missed a good opportunity - always trying to improve my timing.

SD

di, sd The most difficult thing is the timing. What caught us out in this case was the comment about June production. To be fair to yours truly, I did put out a very positive note which took a 'half full' view of the statement; but didn't have funds readily available to top up. Could have leant some from SEO as it has turned out. Agree with di that a happy dog does need to have its full quota of NML and will feel more perky, in fact full of joie de vie - getting on everyone else's nerves. The frequent chorus from our family, including grandchildren, to Honey the Labrador is 'lie down', even if she is already lying!

Eric

You know old dogs all suffer from prostrate (sic) problems!
SD

What's 'SIC' SD? That's a code you have to give to companies house about your business type!

SD and Eric I too wish I had more money to top up NML at low prices. I keep looking at my portfolio but their is nothing else I really wish to sell at the moment so I have no choice but to stick. What I need is a huge hike in something NML, GFM or YOO would be very nice or OXB, I'm fed up of that one but I'm not selling at breakeven after holding for 18 months.
Di

Do you mean OXS ?

No Aldwick OXB Oxford Biomedica :-(

Of interest posted on the other side:
By Ketan Tanna Posted: 4/6/2005 4:33 AM

(Rapaport...April 6, 2005) The International Monetary Fund has said that Angola's diamond sector, which makes up a large chunk of the country's non-oil exports, is still largely untapped. The country is currently seeking an IMF-supported staff monitored program, the first step to a lending program.

According to a report released by the IMF, Angolas revenue from diamonds was low compared with the industry's reported production. The Angolan Ministry of Geology and Mines has reported diamond output of $788 million in 2003, up from $638 million in 2002.


The IMF said that half of Angola remains to be surveyed and that a large
part of the current Angolan diamond production was probably being smuggled abroad. Besides, the fact that there was little downstream activity, the IMF said that numerous governance issues remain to be addressed.

According to the IMF, a systematic appraisal of the diamond sector could focus particularly on the separation of roles currently being played by Endiama. Its sizeable potential conflicts of interest impede improvements being made to the transparency and openness of the sector and hence to its attractiveness to potential investors. The sector would gain in particular from clear and fair rules of entry under guarantees of a stable regulatory environment, said the IMF in its report.

The IMF said the granting of licenses and the application of tax provisions, clear commitments to fairness of treatment and transparency would reassure investors and ensure that government revenue could be maximized. More information should be published about revenue payments made by the sector and the earnings of parastatals and associated companies. There are also outstanding social issues, including prospects for garimpeiros of Angolan origin.

Angolas related fiscal income as reported by the state diamond company Endiama was $112 million in 2003 and $45 million in 2002. But the IMF said the low ratio of government revenue to production was common in other diamond-producing countries in sub-Saharan Africa.

Angolan diamond reserves fall into one of two categories: primary, or kimberlite deposits, and secondary or alluvial deposits. Angolas known stock is largely alluvial.Diamond deposits are mainly concentrated in the north-east (Lunda Provinces) with some also in the central and southern parts of the country. Over half of Angolas current production of diamonds comes from the Catoca mine in Lunda Sul.


The report added that the Angolan authorities project that output in 2005 will increase substantially, reflecting in part the recent approval of several new projects by the Council of Ministers, and the rising production in the vast Catoca mine.

www.diamonds.net/news/newsitem.asp?num=11894&type=all&topic=all