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...just a question why do you have this thread if you never anything good to say about NML and you do not hold shares??? At the end of the day NML are a very under valued mining stock IMHO

Dynamite,

These threads are for DISCUSSION, I didn't think it was a pre-requisite that you had to own a share before you could post on the thread!

All the threads would be very quiet if that was the case!

And how do you know I don't own any shares?

You have said so...that you don't have any NML shares. I know the threads are for discussion but why always negative...NML may have bad points and maybe more than many other shares but there are lots of pluses too.

Dynamite,

But although I classify myself as an investor, I also trade in and out of positions as they story changes, sometimes even selling and buying back in the same day, as I try and protect capital, so what I say I hold/don't hold on Monday may not be correct by Wednesday!

I am still negative beacuse they have (so far IMHO) failed to deliver on promises made, and I see a whole lot of people posting beliefs as fact, when in actual fact they may not be, so I simply post what I BELIEVE are the facts.

IMHO in order to have balance you need both sides of a point of view.

I know some NML investors, and I hope NML does well for them, really!

Once I believe in the company, I will be back in, but I want to see some delivery first.

Fair enough Andy

Andy, Dynamite - I'm still in holding what I've got moreorless comfortably. But recent evetns and SP behaviour does not currently encourage me to top up at this very low price.

Lie ARX, I need to see some positive good news and a lift in the SP to want to commit more at this stage.

The potential is there, they say they have started mining, but that announcement was very weirdly timed, almost manipulatively I remember commenting at the time. So their news management is not very sophisticated which, whilst only cosmetic in some senses, it's a) all we have to go on and b) sophistciated news management can indicate sophisticated management. Or maybe their sophistication runs to managing the news for their considerable controlled shareholding at the expense of investors.

I imagine institutional investors will pull them up short if they continue in this fashion. But I would hope their NOMAD would sort things out before that is necessary.

Sobeing balanced I hope, Di, I'm positive about potential, but mildly negative about management this week. Watch, wait and see.

SD

Yes I once believed in it but it appears i may have been wrong.

It says that the directors haven't sold any shares, but I bet there are a few back handers going on when Piet and Neels are selling their shares. It is blatently obvious that someone is dripping them out somewhere.

It doesn't fill me with confidence that the directors 1 Dont hold more shares than they do and 2 you never see them taking advantage and buying them on the cheap.

Thing is guys why NML?? I don't know anything about mining stocks nor will I have a try at getting to grips with them, but why not go for a company like Firestone that has proven track record (I don't hold any) and has good prospects.

It is a shame when a story doesn't come off, i can see further complications

DYOR

legend, the Lim brothers(?) own/control directly or through other shareholders 21.97% between them (read the RNS above) - that's a pretty fair chunk to say they believe in the company too.

Why should directors buy shares on the cheap - they will buy on good news, like all of us. There isn't much around at present. Do you want them to create a false market by buying shares to fool punters into buying too? Why complain about the LOW price of something you may be contemplating BUYING??

You say you know nothing about mining stocks, but seemingly enough to comment negatively on this one???

There is nothing blatantly obvious about shares being dripped out somewhere - what ever that means.

The facts are the news management is bad, leading to confusiuon over the start of mining we all thought would be later, then suddenly sprung on us last week. Then the licence is now clearly not confirmed till the initial 5,000 carats is mined. Etc, etc and the market doesn't like them much and the MMs have enough stock, so are holding the price down, only letting it rise when they have buys to fill. So it rises, loose holders sell into the market, the buy orders are filled and the price is marked down again.

It's frustrating and adds somewhat to ones concerns, but your slagging off tone is out of proportion to the facts or your genuine interest. Did you lose money on this one once, or what? Of perhaps even hoping to gain in the other direction as you write so vehemently negatively.

I'm not wild about the shares at present, but moderation in argument usually allows the evidence a clearer platform to speak from. Remember, no one knows anything!

SD

Dynamite,

ON ADVFN, Anom still thinks there are dispcepancies with the declared holdings, and apparently a further RNS MAY need to be issued!

I am going to try and check the figures myself tonight.



Stockdog,

Yes I was reading your ARX thread today, quite sad to read retrospectively, and see the comments as the price falls and hopes start to look forlorn.

hopefully ARX has already bounced, better price today.

IF there are further discrepancies, then the NOMAD is going to come in from some criticism IMO. One mistake is an accident, two is unacceptable!



legend,

Yes it seems strange that most of the regulars on the ADVFN BB hold significantly more shares than Cross and Healy!

I did mention this at the November meeting to John Cross, and he became angry and walked off!

With regard to Firestone Diamonds (I have a holding) the difference seems to be promotion, both by the PR and media, and on the BB's.

FDI has risen nearly 50% since Xmas, yet NML is back at last year's price, yet FDI has an occasional post, and NML reams of posts per day!

Strange indeed.

Dynamite,

Well according to my figures, unless they have transferred some shares to a trust, the Badenhorsts have 1 million shares LESS that they received from NML in the two tranches, so it's POSSIBLE they MAY have sold these shares.

Looking through the RNS list for the last 14 months, NML issued 32 RNS statements, but only three were titled "director shareholdings", and two of those have been in the last three days!

In addition, there was the RNS dated 30/12/2004, which dealt with the conversion of oustanding director fees being converted into shares, without listing who reeived what, a breach of the AIM regulations.

I can find one director who has less shares than he had 12 months ago, although he too MAY have transferred some into a trust, so we will have to wait and see on that one. 'IF' he has sold, that would invalidate today's RNS statement, and I would think the AIM regulators would take a very dim view of that.

Stockdog,

1) Directors buying shares shows confidence and belief in the company and is a very good sign of commitment.

2) I didn't lose any money, i made about 20 quid after commission... i think i actually got lucky looking at the size of the spread at the time

3) I don't now intend to buy any of these whatsoever, however i can see why people are attracted to them.

4)Shares being 'dripped out' refers to a big seller that is selling his or her holding in blocks to the market. So why are certain shareholdings reducing then??

5) I am not slagging anything/anyone off... it is your choice what you put your money into and you obviously believe in the story. Am I not allowed to have my own viewpoint??

There seems to be no value in these thats all i am saying... no cash, no NAV, no profits... infact I have seen more carats in Bugs Bunny's hole!! And the management seem unclear and misleading.

Too many unanswered questions for me... what do you think andy??

Hope I am wrong and best of luck SD.

gentelmen,

Some good points raised by all concerned here in recent posts.

Stockdog,

I would expect to see director buying as a sign of confidence and commitment to their company, ESPECIALLY at the lows, because that sends a strong signal to the market!

What the NML directors have done is simply award themselves share options, subject to the performance of the SP, which is a no financial risk (for them) option, and leaves me underwhelmed personally.

To be fair, they DID convert fees and emoluments owing into shares in December 2004, so now messrs Cross and Healy hold the grand total of around 165,000 shares each, total value approx 7,000. However, I think lack of cash MAY have been the reason for them taking that option, rather than anything else.

There is certainly a large seller(s), and every time there is a piece of good news, he "drip feeds" out chunks of shares, 100k, 200k, and more recently 500k.
They are obvious if you follow the trades, and even the most ardent NML holder recognises this is hapenning. what we allwoule like to know is who is seling all this stock?, because it has been ongoing for several months now.



legend,

Your point 1, correct (IMHO)

With regard to management, 'IF' this latest RNS turns out to be erroneous too, then it's a total shambles!

I suspect it's wrong, but the AIM regulators are examining it against the share register, so we should soon know if they are forced to release another correction for the correction!

This share is an enigma, IMO, but I hang around because despite what I see as hapless and inept management, I suspect there just MAY be some real hidden value here.

Whether NML are able to exploit that is another thing, but with the Sp at 4p now, and people predicting (guessing!) 50p next year, I figure there is time to watch and wait, and 'IF' they start to deliver, that will be the time to hop onboard.

That way I reduce the potential reward, but significantly reduce the risk.

Here is the email I have just sent the MD of Daniel Stewart

Dear Mr Cade

NEW MILLENIUM RESOURCES plc

I am writing with concern about the recent announcements from the above company and seek clarification on a number of issues.

Firstly, the interim accounts issued Thursday 31st March stated the company "will move from exploration phase to production phase by June 2005". Two business days later on Monday 4th April another RNS was issued stating that "diamond mining production has commenced on its Rio Lapi mine". There was a drop in share price of 20% the day after the interims followed by a rise in share price of 50% after the second announcement. Since then the share price has drifted back to settle about 10% lower than its recent mid range. This seems to me a high degree of volatility caused by extraordinarily crass timing of announcements by the company. Are we to believe that the directors did not have the information contained in the second announcement the day they issued the first?

The second issue is that of director shareholdings. The latest two RNS announcements do not reconcile with previous announcements of director's shareholdings and leave a very confused state of affairs as to how director's holdings have moved over the last several months and where precisely they now stand.

Meanwhile it appears that there is a large and consistent seller of stock each time the share price merely flickers above the parapet of 4p. Is there any information that should properly be communicated to shareholders at large in this regard? There was a very sudden unexplained drop in price on Thursday 21st April at 2.00pm against a background of strong rebound from the general dip in the market of a week earlier.

Perhaps, as an Australian entity the company is not sophisticated in the ways of the London Stock Exchange and its requirements for clarity of reporting. Hence I am writing to you as their NOMAD whom I would expect to be guiding them in these issues. I and a number of associates who hold shares in the company are increasingly concerned that these apparent errors should occur and, indeed, may possibly be concealing rather more sinister manipulation of the share price by major shareholders and/or the directors themselves, in particular the non-executive directors who control a substantial (21.97%, from the latest RNS) portion of the share issue.

Your enlightenment on the above matters would be very gratefully received.

Yours sincerely,

Stock Dog

Excellent stockdog,

Please let us know what response you get mate.

This is the best way.. if you can't take the mountain to mohammed....

I have been watching closely on the other side and someone said that the FSA are watching the company carefully - whether there is any truth in that or not i don't know.

Hopefully for you and all investors sake that I will be proved wrong.

Best of luck.

The last thing i want to do on here is create enemies.

Stockdog,

Well done!

Personally, I think that is an excellent email, succinctly worded.

I am please you included the contradiction in the two RNS where in one they were "not mining until June 2005", then four days later "mining commenced two days ago!"

This has always bothered me, and some people must have lost money as a result of selling on the first news, perhaps to people that knew the second was coming?

YOur email is worthy of a reply, and if you receive one, I for one would be grateful if you are able to share it with us.

Andy and Legend

A good example of healthy debate resulting in action, thanks to you both.

SD

Its ok, I hope you get the response you deserve.

When I invested at 5.5p over a year ago, the business plan and model seemed like a good one. If I am honest I took the tip from someone else thought my portfolio could do with some adventure.

3 weeks after i bought they were down at this level and i started to question it!! Fortunately by some grace of god i got i think 5.6-5.7 (can't remember) so after commission i got out in profit. But i will never forget when my broker rang to sell (in the same day they were 6 o the bid) he first of all tried to get me 6p - and the trader said that there were 7 positions ahead of me (and BIG sellers). I needed the money and took what i could.

Some guy called intercept was banned on here for slagging NML off (he and his posts have been removed) and it was him that was plastering it around that it was a scam. Thats when I first started to question the co.

As andy said, I would be grateful if you could post the guys response.

Regards

Legend

Hey,you guys and gals have been busy. A healthy dialogue leading to a valuable approach to the NOMAD by stockdog - that dog never ceases to amaze me; my dogs are clever but there orbit is really restricted to eats, walks, games and, with the new pup, tearing up anything that is tearable.

There appeared to be a reasonable explanation re the announcement re production: in between the two announcements, Endiama had carried out an inspection and authorised the start of production. There are 4 days between the interim results and the subsequent announcement. No doubt the interim results had been prepared earlier and were released on 31st March. Cross was cross and provided up-to-date information for the RNS. Ok, Aussies and therfore a bit gung-ho (no, Gung Ho is not a missing director!) but nothing sinister to me.

Re the shareholdings, sd had the correct reading which is what I inferred from the relatively low figures and we now have the totals. In the meantime, production is continuing and diamonds are being accumulated, so why the negative aura and the subsiding sp. City not that happy; not their own people. Communication not that good with Cross and Healy doing what they are used to doing in deepest Africa. But, lets face it, these guys are probably digging up carat loads of diamonds! Given that this is proven then the sp will finally take off. So I am with sd and di that this is a really attractive speculation. OK, firestone for the faint-hearte but the early action has already occurred.

perfectly happy with your stance, Andy. you have teased out significant issues. The saying: 'fools, dogs and diamond lovers rush in where angels fear to tread', may apply. I think legend was rightly ticked off by sd because his comments were of the knocking type that are typical of some posters, e.g. deadfred: and I have seen this from him before elsewhere. But, and it may be worse than being Aussie, he is from Yorkshire where they call a spade a shovel! Where's the Yorkshire interest in the premiership? The answer is: Middlesbrough, and that says it all!

Eric

Eric,

Well to change "June2005" to "we started 2 days ago" in just four days takes some swallowing IMHO. And the interims were an RNS. so they have to be accurate.


"Gung ho" LOL!

Eric,

What do you mean the knocking type?? Surely every poster is entitled to their view for what its worth??

If you were referring to me questioning the asos share price at 80 odd p, then i was merely stating fundamental fact that they were overvalued!!

I tried to help you for christ's sake when I told you of big big sellers. Also when I said that the sp might drift back down to 40p (from 50 where it is now) you went off on one.

Oh well good luck.