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 ??

Di: switched from YOO to ASC; probably from the crypt to the graveyard! At least if you rise from there, you've got blue sky above rather than a supulchre!

legend: another shorting effort probably - fall in line with AIM market over last month (-15%), together with warning of market conditions from IDS. Taken opportunity to get back in. pe of 14 on recent Seymour Pierce and Shore Capital forecasts for current year.

Eric

I know eric, its shocking... seeing value just diminish like that.. a couple of mine have taken a hammering of late. Im happy to ride it out and wait for my price.

Just not nice at all. Market is dead and it is increasingly hard to make a quick buck...

Agree legend - see my post on ASC thread aboutcurrent market.

SD

stockdog and I are always thinking the same thing, except when it comes to food! Sometimes he is first and sometimes I am second. But my contribution on the ASC thread is perspicacious - unless you have a good reason why the share should move positively between now and Setember, sell it and go way. Trouble is, there are positive reasons, so I think, why all mine should go up!

By the way, legend, see you in the top 200, which is better than my current position. 'Current' because I intend to beat all these shorters!

Eric

How do you mean in the top 200?? What is it??

Well Eric, just remember that the shorters have to buy the shares back at some time in the future... market makers will screw them over so easily.

We will see what post election vibes are over the next week!!!

Stay lucky

There is a Legend at 136th in the Champion Investor league table in Shares magazine this week. if not you, you can still enter but will need to change your name! Actually, a good time to enter because there are only 21 investors in positive territory out of I don't know how many; I know I am languishing around 400th, almost 10% down. However, I have a secred weapon which will project me to the top before the competition is finished. Dosh for winners!

Eric

I don't remember entering!! I could do with the cash - I'm skint at the mo. How do you enter??!!

What is your sacred weapon Eric??

legend: my sacred weapon was really secret but probably does need a lot of faith - and a lot of luck. Not saying except to advise a serious look at Interregnum (ITR)!

Just visit the Champion Investor thread at the top of the list.

Eric

Thanks mate, im entered... am off to dominican for 2 wks but will try to monitor the stocks while away.

Good luck

Where's the big sell?

What big sell?

NJR,

only the offer was lowered today, the bid held steady, trying to tempt buyers in by the looks of it.

Only 1 sell and 3 buys IMHO, no large sell.

Put it this way,

On Monday you could buy up to 250k at 4.38p,

Now you can buy 500k for 4.0p online.

This suggested to me that a big sell had gone through, so I was a bit surprised when none turned up.

Nice to see a few buyers this morning though, at this bargain price.

mjr,

Ok fair enough, in fact there MAY be a large protected sell being worked by the MM's, and IF there is, we won't know until it's complete.

I take your point regarding the lower offer, it does look at though they are trying to tempt in some buyers IMO.

Virtually all the trades today are buys not sells. You can currently buy at 3.98p so fill up whilst you can...these are ridiculously cheap DYOr

Dynamite,

The fact that you can buy at 3.98p when the offer is at 4.25 does not fill me with confidence!

I suspect they have a few to sell, hence the discount to market price.

Dont think theres a big sell there would have been more aggressive moves by the mms to fill the order asap.Its more than likely a placing on the cards at 4p thats waiting in the wings.Probably get news about the first diamonds along with yet another placing which means weeks more of depression as the placed shares come to the market to kill any rally in its tracks.

asmith2,

You coule be right, I think a placing is a distict possibility, but not at 4p, that's too optimistic IMHO.

My guess, at these levels would be 3 - 3.5p, as it will surely have to be at a discount to market price?

They MAY, of course, simply borrow the money, rather than dilute further, and I believe they have a facility arranged should they require to do so.


This is starting to look interesting IMO.

ASMITH2,

If a company places shares with an institution, it doesn't necessarily follow that these shares are then quickly dumped on the market! In fact, the only circumstances where this happens in my experience, is when the placing is with penny share bucket shops eg CE/HB, when those parties sell their shares to their customers at a profit, who then subsequently sell out. I would be very suprised and dissappointed if a placing was done with the penny share bucket shops.

Any other institution is not going to invest in a placing only to dump their lot on the market the next week. For one thing, they will probably have a lock-in agreement and/or warrants.

All in all, a placing will be seen as a good thing by the market in this case, as it will be expected that the company will use the cash to quickly bring in revenue from the mining, rather than it being frittered away just to keep them afloat like in some other companies.

But as Andy says, they also have banking facilities available to them, and since the company is going to be bringing in significant revenue streams in the near future, a short-term option such as a loan would be much better than an equity placing.

mjr,

Nicely worded.

I too would be disappointed if they placed with CE/HB, as they deal with placings from distressed companies as a large discount to the current market price.

CE / HB could be the last port of call for a company that needs cash to survive, and has explored all other routes without success.

I do not see NML as such a company, and feel sure they will be able to raise funds without taking the bucket shop broker route.