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 ??

This needs news and volume for the ship to set sail but dont rule out it sinking before its out of the port!

Why on earth should it sink?

Looks very strong to me. Should go far.

Quite easily if the diamonds arnt up to scratch and are not commercial and further exploration was necessary at the cost of another placing.!That sort of news would slam this to sub 1p all in one go.Then we would know why millions of shares have been dumped at any old price.

Don't see why, even on that sort of news, it should go below the price it was say 2 years ago ie 3-4p.

We are at the bottom of the trading range now.

I dont see why a Diamond Producer should be valued at 6 million quid or 3.75p near enough an all time low,thats the mystery and thats why theres so much speculation about the seller/s this being some kind of con etc etc on most bbs.
imo theres something not right here dont know what an earth it could be but Im sure we will all find out soon enough.

It's just very overlooked - one of those rare great bargains imo.
There is no big conspiracy here. It is in everyone involved's interest to make NML a successful diamond producer.

There has been a largish seller over the past 6 months or so, but they look to have stopped recently. They could have been selling for any number of reasons from which we cannot infer that NML is a "con etc etc".

The landscape of this share price will be changed dramatically once affirmative news is released next month.

"It's just very overlooked - one of those rare great bargains imo."
Lets hope youre right and everyone makes some good money out of this for a change.

The rumour on the other side is that it may well be De beers who have taken some or all the placed shares as they had been interested in C9 previously. De Beers also announced a few days ago that they were going back into Angola. Level 2 now is showing all but one on 3.5-5.00. A few buys and hopefully we will start to go up.
Di

New Millennium Resources Ltd
01 June 2005


New Millennium Resources Limited

Issue of equity


New Millennium Resources Limited ('NML' or the 'Company') announces today that
it is issuing equity for cash in order to bring forward its exploration program
on the kimberlite prospect at its Rio Lapi concession in Angola.

Managing Director John Cross said:

'The world demand for diamonds is escalating. Competition for diamond bearing
kimberlite is fierce and it is in the Company's best interest to commence
exploration as soon as possible. It was our intention to carry out this
exploration during November and December 2005 and to fund the project out of
cash flow from the alluvial operations. However, it has become necessary to move
this plan forward six months to provide hard data to prospective major joint
venture partners who have shown an interest in our kimberlite prospect on C9.'

Further to our announcement on 11 April 2005 concerning Kimberlite exploration
the Company has today announced that it has placed 12,500,000 ordinary shares at
a placing price of 4p per share raising GBP 500,000 before expenses. Application
has been made for these shares to be admitted to AIM and admission is expected
to occur on 6 June 2005. These funds will be used to carry out exploration of
potential diamond bearing kimberlites available to the Company in Angola.

Amongst other opportunities, the Company's wholly owned subsidiary Angola
Resources Pty Ltd in association with the Angolan government owned diamond
monopoly ENDIAMA and local partners Mombo, has indications from third parties
that up to eleven magnetic anomalies exist on its Projecto Lapi C9 concession.
Exploration on this concession has been carried out by third parties in the
recent past. ARL now needs to prepare to carry out its own exploratory drilling
and analysis. It should be noted that this exploration will not detract from the
Company's focus on its alluvial diamond production which is now fully
operational.

For further information contact:

New Millennium Resources Limited

John M. Cross (Managing Director)
Tel: +61 414 375 758 Tel:

jcross@new-millennium.com.au

Shane M. Healy (Finance Director)
Tel: +61 414 809 010

shealy@new-millennium.com.au

Daniel Stewart & Company Plc

Alex Davies
Tel: +44 (0)207 374 6789

St. Swithins PR

Gary Middleton
Tel: +44 (0)795 160 3289


This information is provided by RNS
The company news service from the London Stock Exchange
D
IOESDWFIFSISEII

VERY POSITIVE RNS.

Well it is great that they are accelerating Kimberlite exploration and that the placing was at 4p. Obviously whoever has bought will be in for a profit so they must have seen info that makes them expect it to go up. When we have news of the diamonds they have found so far the price will really move imho.
Di

150k buy - now that's more like it.

The rns says:

'The world demand for diamonds is escalating. Competition for diamond bearing
kimberlite is fierce and it is in the Company's best interest to commence
exploration as soon as possible'

I thought they had already begun mining (sorry if i'm wrong - i am genuinely asking the question not arguing)?????

Where are the diamonds that are supposed to be instantaneously cash generative they promised???

Also the placing means that more nml shares on the market...

Something doesn't seem right at all about this co.

MJR - not sure if this co is too small to be overlooked on advfn it is one of the most frequently talked about shares I think with plenty of posters.

Andy what do you think??

legend290782,

It is quite simple.

The company has already begun mining from ALLUVIAL deposits. This is the 10k/20k cts per month being talked about.

In addition to this, the company is applying for a licence to mine some KIMBERLITE deposits, as detailed in a previous RNS.

It is these deposits which they are talking about in todays RNS.

Have a read of their website which is full of detailed information on the various projects:
http://www.new-millennium.com.au

NMR was incorporated in 1996. The corporate strategy of the company is to enhance the shareholders' assets by:

1. Developing the Lapi Diamond Projects alluvial deposits in Concession C9, at an initial rate of 10,000 carats per month, and to vigorously explore and develop kimberlite pipes, known to host diamonds on the concession.

2. Establishing a sound financial and operating base for the company; and

3. Acquisition and/or development of other diamond bearing areas, or of income producing projects (either as owner operator or in joint venture with suitable partners)

The only thing not right about this company is its ludicrously low market cap!

Thanks for prompt response mjr.

It was the alluvial and kimberlite that threw me..

Legend there are loads of threads about NML on advfn. They are very positive on there about todays RNS

My take on the fund raising is very positive. First, it confirms that they do not need more funding for mining the alluvial deposits. Second, the confidence that the kimberlite sites are worth early exploration. Third, the fact that an investor is prepared to stump up 0.5million. The question might well be asked as to why now when the price could rise with an RNS on positive production. I suspect the funding has been in the pipeline since the London visit. A month or two can make a lot of difference if they are poised for the exploration. No doubt management have learnt not to rely on the sp; even positive production forecasts may still be treated with caution. But Dynamite is rarely wrong and I'll back her against the sceptics!

Eric

legend,

Well it finally confirms what has been said for ages, they were short of funds, and had to raise capital.

Once again I don't like the style of NML RNS, everyone knows they needed the cash, but they are saying it's only for kimberlite exploration, which I don't buy. To be fair, EPD also raised funds recently, ostensibly for Finland, not Lesotho, yet admitted buying equipment for Lesotho afterwards, and that minestart has been delayed too!

It's no disgrace to admit you're short of funds, most explorers run low on funds, even FDI raised money recently, and I prefer to see them being honest.

They did well to raise at 4p, which should act as a support level, so limited risk at this price, IMO, although I wouldn't buy whilst the spread is so large.

I see that although the price is "up", the bid remains at 3.5p.

Actual spread is something like 3.8/4.8 (last time I checked), but admittedly still a bit large.

Whats going on MMs?

Bit strange, as it puts buyers off, and also puts sellers off. Don't they want to make any money?