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 ??

It's a sunny day in Angola today and a blue day on here but both are good. Hopefully now the price will move forwards and staythere.
Di

When the sun shines you can see the diamonds sparkle in the rocks in old Angola, so they say.

One sad seller gets his timing wrong
Two market makers raise a merry song
Three happy buyers glad to hold their stock
Four silly shorters going against the flock
Five . . .

woof woof

SD

SD you are obviously getting in party mood for tomorrow. The rumour on the other side is that there was a big seller, hence all the T trades and that it has taken days to fill their order. Now it seems to have passed.

Do you know SD exactly what a T trade is ...I thought it was when someone bought with money they don't necessarily have and have so many days to settle??? Do you know o doggy of wisdom???
:-)

It's a protected trade - a large order that goes through in stages in smaller parcels during the course of the day. It is reported to the LSE but not announced to the market at large until complete - hence often shown wrongly as buy/sell, because the price relates to an earlier market price. It is supposed to help maintain an orderly market, but I have a pretty shrewd idea who its "protecting".

T3, T10 etc is different and refers to how many days you have to settle trades with cash you don't have So you can trade in and out of a stock over a few days, only paying/receiving the difference in cash on settlement. Not available to mere mortals like us who have to have cash or shares lodged with the broker before trading either way is allowed, unless you manage to arrange credit terms not generally available from on-line execution only brokers which I use.

Yours
The Dog of Omaha

I know who the big seller is but can't say, but it's not me or Evil K as far as i know.

How do you know Aldwick...Is it you?? More importantly have they finished now??? OR Is it NML directors to raise cash????

SD...thank you for the doggy lesson. How do people get the T3. T10 stuff I know my brother in law has with TD Waterhouse...I can't see anyone giving it to me and Self trade don't do it anyway. You must be happy about SEO well done...I would be unhappy as I sold except I bought more Griffin with the money and they are going up up and away!!!

Di,

TD Waterhouse are one of the brokers that allow T trades, and for small private investors, is possibly the best one, as you can trade online at 12.50 per trade too.

A friend of mine has an account with Jarvis, he had no experience of share dealing, and when he opened they gave him a T20 50k dealing limit!

Otherwise you are left with the more traditional brokers, and they cost more.

Self Trade use T3, i.e. settlement happens after 3 days, but you still have to have the cash earning an insult to interest on deposit with them before you can place the trade. (and you can't get instant credit from depositing cash with Self Trade unless you phone up - really silly!. Comdirect gives you instant credit from an online transfer of funds - quicker easier more secure and cheaper for everyone).

I used to use Greig Middleton (eons ago when there were settlement periods terminating every fortnight, whenever you traded) they allowed credit.

I would have thought that since Self Trade insist on holding your shares via Crest, they could allow you a %age - say 50% - of your holdings as a credit facility on T10 terms. That would make short term trading on margin possible.

However, as we are all only investing money we can afford to lose (aren't we?!) presumably it is available to us and the interest we forego is small compared to the profits we make.

SD

Good write up in today's Shares Mag...I can't copy it for some reason and spent ages typing it and then it disapppeared so you will have to read it for yourself...I ain't doing it again!

Andy...maybe I should open an accont with TD then. Thanks
Di

If you trade more than 7 times in a 3 month qualifying period with TD the commission is reduced to 11.95 also.

Also may I just say thx to all on this BB for their views over the past few months. Have proved to be very useful as well as profitable

A lot more profit to come.. this is only the beginning

Oh dear, does that mean a lot more views as well then? LOL :)

Views SD? Do you mean what you are going to do at the tRaders Day tomorrow...See my getting drunk thread! teehee

A Good post from the other side;

'Economy - Development
Angola to double diamond production in 2006

afrol News, 14 March - Angola's national diamond company Endiama has announced that it expects to double its production capacity in 2006. Endiama's current capacity is about 6 million carats of diamonds per year. If the state company reaches its target, Angola will surpass South Africa and become Africa's third largest diamond producer, after Botswana and Congo Kinshasa (DRC). The industry however still faces many problems.

According to information released by the Angolan government's Agcia Nacional para o Investimento Privado (ANIP), the national diamond mining sector is experiencing a boom-like revival. During the last decade, diamond production has been around 3 to 5 million carats annually, recovering to an estimated 6.5 million carats currently, following the end of the civil war.

Angola's diamond production is mostly controlled by the state-owned Empresa Nacional de Diamantes de Angola (Endiama). Endiama's current capacity is about 6 million carats of diamonds per year, but the company has now announced plans to double its production capacity during the next year. By end-2006, Endiama thus plans to produce 12 million carats annually.

The production increase was due to the start-up of the parastatal's new exploration and production arm (Endiama-EP) and expected new production from six diamond projects coming on line. In the Camanjanja area of Lunda-Norte province, Endiama-EP will begin mining diamonds independent of any other company. This will be the first time the company has operated independently.

Endiama-EP expects to produce around 7,000 carats of diamonds per year from this project alone, according to ANIP. Endiama further plans to use the additional revenue to build a new diamond cutting plant and improve local infrastructure in areas where it is operating.

The production increase announced by Endiama would significantly increase Angola's share of the world's diamond trade. Measured in carats, Angola in 2003 was the world's seventh largest producer and measured in value, the country came fifth world-wide. Australia produced most diamonds counted in carats in 2003, while Botswana by far was the world's greatest producer in value.

If Endiama's plans are realised, Angola's annual diamond production in 2007 may reach around 13 million carats annually, worth an estimated US$ 2.2 billion, if the same quality is maintained. Angola's diamond production could thus surpass those of Canada and South Africa, making the country the world's fifth largest producer. In Africa, only Botswana and Congo Kinshasa (DRC) would then be producing more diamonds.


I imagine NML is one of the 6 new projects coming on line.......'

I hope Endiama - being the regulator - does not now also become an agrressive competitor. The bribes alone will detract from the bottom line of any independent operators.

Also their plan to become a cutter as well concerns me - will they demand a monopoly on purchase from all operators. How will they develop the skill base needed to cut 7k carats of diamonds from nothing at a high enough standard to compete internationally? Will they end up lowering the perceived value of Angolan diamonds w/wide?

This and your previous report smack of a new social order in a recently stabilised regime effectively nationalising its main export and thereby stifling its necessary entrepreneurial skill/value development.

I always make the analogy of theatres which, seeing the nice profits made by franchisees, take over direct management of the catering function, only to make a thumping loss - it's a different business requiring different skills from producing plays.

Should government be directly managing 50%+ of its own natural resources? Discuss. You can imagine the profitability of Brownstones recovered from Downing Street Blairite, not.

SD

Dyna/dog,

Dia,I am not calling you a dog, its you and stockdog am posting to, will you be posting any photo's from the traders day on here ?

It depends what you're willing to pay, aldwickk! lol :-)

It depends on our far you are willing to go, LOL .

That was a silly question, your going as far as London.

Depends on whether he is a good doggy or a bad dog...At the moment he is a cross dog but I feel it is all good news for NML not bad. No time to post now though....got things to do!