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 ??

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.

As I've said before, I think the statement in the interims was poorly
worded and should has said full production before June 2005.
The following RNS which stated that production had commenced would not
then contradict the interim statement since they have previously stated
that production would be ramped-up over a three month period to 10,000cts
a month.
As Eric stated in his last post, "diamonds are being accumulated", and we should
soon receive an RNS detailing grades etc.

Filthy poor,

At what rate do you think diamondsa are bieng accumulated?

They actually started last November(first trial mining), so they should be close by now.

Andy,
They actually started grid sampling last november to establish the best
area to commence mining. They achieved this during an extremely poor rainy
season (even for Angola).
Now the weather has greatly improved, they have commenced mining and are ramping up production to 10,000cts per month. This will then be further
increased to 20,000cts.
As for "accumulation rates" we will have to wait for the RNS detailing
the grades achieved.
Also, Biggies can be found at any time! and green Biggies would fetch
an even higher price.

Have you been tempted yet?
FP

go on my son, Andy, you know you want to!

green biggies - the stuff of legend290782

I have heard you couldn't pick your own nose let alone a stock SD

As for NML getting any diamonds - I have seen more carats in bugs bunny's hole!!

Keep pickin the winners!!

Being a bit rude on here tonight...I bet NML find diamonds bigger than anything you would wish to stick in a hole!"!!

Looking back at the interims, there is an interesting anomaly. On p.2 it states that "The Angolan diamond project will move from exploration pahse to production phase by June 2005... By June 2005 the Company will be in a position to make medium to long term forecasts as to cash flows and profits." The latter clearly requires the completion of some production. The most likely explanation is a typo in the interim statement - well Aussies don't necessarily have the educashun to check such things!

As Filthy Poor helpfully sets out, this will presumably include a grading of production and revised forecasts on this basis. Remember too that NML will have by now a second team exploring the Bilo region of their concession with positive prospecting data from Endiama and potential to set up a second site to double production rates (do we know how far these are apart?). June should be 'interesting' and that probably gives time to build up holdings.

Eric

Sorry to miss out on the levity, di, whilst writing my own 'serious' post. Could you define how big the diamond will need to be? sd may not be good at picking his own winners but he is very quickly on the scent when di and I find them for him (see his CFD analyses). Proves he doesn't have any need to pick his nose - a skill he doesn't need, but very good at biting the backsides of posties and legends!

Eric

Eric,
I feel we may have news before June regarding grades.
Lets not forget the Hudson diamond project in Greenland on NML's concession
and a possible JV for the Kimberlite exploration on NML's C9 concession.
Lots of news in the pipeline for the next few months.

Eric,

This "anomoly" you mention is casuing some confusion IMO.

It would appear that NML are simply trial mining (IMHO), and NOT in full production yet, hence the reference to June 2005 in their RNS DD 30.03.05.

They then release another RNS, FOUR DAYS later, announcing "production has started".

This is contradictory IMO, and is an example of the poor communications given out by NML.

I do not believe they have complete the required 5000 carat parcel, and therefore are not yet in possession of the required mining permit, to be issued by the Angolan authorities.

This is the reason I think they are still in exploration, although they are now ramping up to production, and will, therefore be mining diamonds.

Andy,
As stated in their RNS, they are in production.
They do not require the permit to dig the diamonds up, since they
have obviously been doing this for months, but they would require
a permit to actually trade the diamonds.
A 5000 carat parcel will make an excellent trade!
especially if it's filled with green biggies!

Andy: it all depoends what you mean by production, I suspect. The production must be enough to (a) get the 5000 carat parcel; (b) to be able to confirm forecasts by June. The Endiama approval to start production appeared to be primarily around safety matters. A previous RNS said that it would take 3 months to build up to 10,000 carats per month. Can't see the point of 'trial mining' - haveen't they been through that process? Perhaps Filthy Poor can clarify.

Eric

Eric,

Yes I agree completly, I maybe didn't word my post as well as I might have.

I meant by "trial mining" they are starting production, but without the required production licence, which has to be awarded before they can sell any diamonds.

I guess they will have this by June, hence the date in the first RNS.

Yippee!
I believe, we are now, all singing from the same hymn sheet.