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 ??

An interesting post from the other side;

'On page 31 of the Annual Report it states that the company has a 4,500,000 equity line of credit with Cornell Capital Partners Offshore LP, that was not utilised as of 30 June 2004.

The equity line of credit allows drawdowns of 62,500 at any one time (probably based on $100,000 when drawn up) and does have a number of pre-conditions. The loan is convertible and the share price is determined by the lowest daily market price in the 5 business days following the Company's notice to Cornell (of drawdown).

So the standby is dilutive, but would give the Company a sizeable amount of cash for working capital. It might be cheaper for the Company to arrange one large dilutive issue or placing, to avoid the extra cost of doing it piecemeal.'

As i posted before i know someone who as in his words a massive short on NML, based on the assumption that the Angolan government will rob NML of any diamonds , so will the 5000 carats that are needed to apply for a licence be held in some sort of joint account needing both parties to sign.

What a load of rubbish!
The diamonds will be held in a safe, initially. One key to be held by
Endiama and one to be held by NML.
Endiama have a percentage stake in this project, why would they rob it.

Aldwick I agree with FP...it is in teh interests of Endiama to help NML produce diamonds not hinder.

Filthy poor,

Correct, NML confrmed this at the London meeting.

I don't think anyone seriously expects them to be robbed of the site, that would send out some very negative mesaages from Angola that the Angolan governement would not want sent, I'm sure. (But if they "robbed it", Endiama would have a greater percentage at no extra cost!)

For sure, palms will have to be greased before any licence is forthcoming though, all part of business etiquette in Angola I'm afraid, but this is expected, so shouldn't be a problem.



aldwick,

I cannot imagine anyone having a massive short on NML at this price, with the spread NML would have to go bust for them to realise a decent gain, and any good news would take them out.

I agree , i was just quoting what he told me and i will email your replys and see what he says.

Andy,
Endiama would only have a greater percentage of 5000cts.
There is a measured resource of 188,000 cts with an additional
indicated resource of 3.79Mcts and an inferred resource of 4.8Mcts.
I suspect that Endiama are in for a larger slice of the action, rather than
raid the piggy-bank at this stage.
And, Yes, corruption is the name of the game in Angola, if you need to get
anything done. Infact, this is probably the case, the world over, but to a
lesser extent.

Filthy poor,

I meant 'IF' they took away the project, they would gain the WHOLE resource, ie NML's share of it, although they would then have to mine it themselves!

I honestly don't think anyone expects that to happen, we are simply awaiting NML's confirmation they have achieved the intiial 5000 carat parcel, and they now possess a full mining permit.

Some people on ADVFN dispute the need for an initial 5000 carat parcel, but it was mentioned by John Cross at the November meeting, I myself definately heard him say it.

Aldwick,

Please let us know what he says.

Nearly bye bye time. Think I'll be counting diamonds tonight! How many diamonds will NML have dug up today? "Production expected to rise to 10,000 carats per month within 3 months of initial production", so could be up to 5000 carats in current month, thus achieving the initial parcel. Work 25 days in month, thats 200 carats per day. Average 5 carats per diamond, thats 40 diamonds. Not trying to prove anything; just rehearsing my dream so that I can picture the diamonds piling up. And I have a share in each one; microscopic but a share - sorry, they are in my wife Mary's name as it is the nearest shell get to one. Just another glass of Rioja to celebrate all these diamonds and then I'll be off! zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

One diamond jumped over the nasty man from Endiama
Two diamonds junmped over the nasty man from Endiama
Three diamonds jumped into the back pocket of the nasty man from Endiama
Damn, start again
One diamond jumped . . .

Night night everyone
SD

Stockdog,

Only 3?

I think they'll have to pay a little more than that!

You haven't seen the size of the diamonds I'm dreaming about, Andy!

:-)

sd: you started your dream at 22.52; Andy reacted (he's slow on the uptake!) at 00:38; there you were at 00:42, quick off the blocks. Now, if the diamonds were that big, then the back pocket must have been huge and the man himself ginormous; so is it not a nightmare rather than a dream. I think I am happier counting my smaller diamonds. ....1041, 1042, 1043 ..... Wonder if I'll get to 5000 before NML?

Eric

As I've mentioned before, brings a new meaning to the expression "carat and stick"

When are we gonna lift off the bottom? Should I buy more at under 5p? I have a few qualms that these gems might just never quite make it to market. How confident are folks out there?

SD

An article in Shares mag today;

'Retail Investors should be careful not to sell holdings of resource stocks purely because of a lack of newsflow. Mining companies usually require at least two years to take a project from starting exploration to production. But the absence of news can lead punters to panic.

Take NML Earlier this month the company hit a 52 week low due to the absence of recent production news. But an update announcing the start of production at its Rio Lapi mine in Angola the following week saw losses wiped out. The shares began advancing again. Institutions, which tend to be kept more fully informed, can mop up shares when the small punter's hopes start to waiver.'

So be warned..Shares recommend hold at the mo and I agree DYOR of course

Dynamite,

Where do Shares recommend a "hold" for NML please?

I have a copy, and cannot find itonly a mention on page 46, which has no recemmendation.

In the Index Andy where they give a orange oval by NML, meaning neither sell nor buy so that must mean hold.

Dynamite,

No that means NUETRAL, ie No opinion either way!