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 ??

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!

Well Neutral means hold then in my book :-)

Especially as their article says don't be spooked into selling.

Dynamite,

No it means they don't have an opinion either way, not quite the same thing IMO!

At the bottom of the paragraph, they refer in general terms rather than to NML (IMHO) to "institutions can mop up shares when the small puters hopes waver", which, IMO, is not in evidence on NML, where any move up in the SP is followed by selling into strangth by a large holder(s), quite the opposite in fact.

If you read on, the article refers to Alexander Mining, and says "the current price represents a great buying opportunity", and Beowulf Mining (I hold) "the shares have a lot further to go".

Sorry to split hairs, and I'm all for enthusiasm for a share, but Shares IMHO have not recommended a "hold" on NML today.


Ps

Have you seen the RNS?

I would question whether to hold these shares after todays announcement.It needs urgent clarification as it looks like the sellers are the directors.

asmith2,

Yes I agree with you, this does need some urgent clarification.

Guys,

I will put it to you like this... if this is the 'diamond king' of the future and is going to do what it intends and produce cash generative diamonds, then wouldn't you expect the fd to have more than 7k of shares.

This seems more and more like a scam. Things aren't adding up. All of course IMHO but hope i am wrong.

I held these for a short while last year and i got sick of the excuses made.

Good luck all