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 ??

Anomalous1
Do you know that for a fact about the Badenhorsts' choice? I am surprised. A friend of mine knows them quite well and that is not the story I heard. They are very optimistic about the mine.

Seems like some interesting afternoons posts!!

How come Healy had death threats does anyone know??

Also didn't nml do their homework as to the accessibility to the mines and potential costs??

Does it not alarm you that the so called experts - 'the brandenhorst bros' are selling shares??

I am not having a go, but are just asking questions. I am grateful of any responses (like earlier this aft)

Andy, although I don't hold FDI, the analyst told my mate he reckons 3 over next few years... I would probably keep em to let them run its course on that basis!!!!!! I know a broker at redmayne bentley n leeds that has been buying these for fun since 60p...

What do you vale nml at?? Do you think that 5m is fair or 'cheap'???

mjr
I think the weather is not expected to be such a problem now that the infrastructure is established. Petra are not far away and they seem to cope. Even in Botswana,this year, there were problems with rain

Healy's death threats are grossly exaggerated. A young lout with a grievance
made them in his cups on a BB and a poster reported it to the police.The chap posts endlessly and is obviously unstable, but not dangerous. He has now taken to trashing the EPD thread on ADVFN for no reason at all.
Who is claiming that the Badenhorsts are selling shares? Rather difficult to know that, surely?

legend,

How come Healy had death threats does anyone know??
> No idea, never heard of this.

Also didn't nml do their homework as to the accessibility to the mines and potential costs??
> I'm sure they're only human, and just underestimated the costs involved. Not an issue any more.

Does it not alarm you that the so called experts - 'the brandenhorst bros' are selling shares??
> I don't think they are selling shares? Looks like they may actually be buying?

What do you vale nml at?? Do you think that 5m is fair or 'cheap'???
> CHEAP - see my response earlier.

mjr1234 - 08 Jun'05 - 17:24 - 673 of 679
Regarding the weather situation, I don't think it is an issue, as there is a big mine down the road - catocha(sp) I think, owned by one of the majors. This seems to be going great guns, rain or shine. Can't think why it should affect NML's mine.

I believe it was only an issue when transporting and installing the heavy equipment on site. Now everything is set up, the weather is largely irrelevant imo.

You seem to misunderstand is that Catoca is well developed with proper roads. The access to NML's concession C9 was so poor, that they had to build a lot of the roads themselves, just to get the trucks to the minesite. Despite all this building work and the promise from the directors that they would "Go for it" the moment the equipment was at the mine site, they then claimed that they were unable to do much work for 4 months and that they would start the mine in February. Then (because the weather was so bad) they delayed this to March and in the end it was delayed until April.

NML does not have proper roads. If you check the site, you'll see that it is just mud tracks:



So you can see, when it rains, the mud slows everything down and makes it very difficult for the machinery to work. You also have to understand that NML is on the Lapi River.



So they are actually in the flood plain. If it rains (and word is that it buckets down) then a good deal of the earth they are moving contains a lot of water. So they waste a lot of fuel and time transporting a lot less ore and quite a bit more water.

Although the company have claimed that the weather will not slow them down much and admittedly it does not rain all the time, the sheer weight of water does stop work. If they do get as much as they did in the last rainy season, they would be lucky to work 3 or 4 days in every 7 - if that IMO. Remember, they don't work 24/7. They can't afford for the workers to pinch the diamonds in the poor light. One of the reasons why they have these guys:

Poor light?

Regarding the roads, if you look at other pictures on the website, you will see that the roads leading to the mine are in fact proper roads. The picture you posted showed tracks on the actual mine pit, where they are actually mining, so of course there are no proper roads!

It seems quite clear you are on a downer with this company and are inventing all sorts of excuses why they are doomed to failure?

I say lets wait and see, and leave it to the professionals..

By the way, have you seen the latest pictures taken last week? They have added them to their website today.

Looks very hot and dry.

Anomalous1
That is not correct. The roads were built subsequent to these photographs being taken. Are you being deliberately misleading or are you just mistaken?
The main problem with getting established was that the machinery could not easily be moved for fear of damage to the machinery and damage to the ground.
Angola is very wet for some months of the year and was worse than usual this year. They undoubtedly got off to a slow start but that doesn't mean that progress can not be made quickly now. Neils and Piet are very experienced miners.
I am surprised that you have been able to take these pictures from the NML web-site. I understood they were right-protected.

I particularly like this photo:

http://www.new-millennium.com.au/gallery/index.php?p=106&c=16

how many carats?

I'm sure anomulous1 will say they are grit to melt the snow or something!

:)

mjr- I'm glad you agree with me about the roads. These photos just show the workings. Anomalous1 obviously doesn't understand much about alluvial mining.

mjr1234 - 08 Jun'05 - 17:31 - 674 of 680
Regarding the Badenhorst brothers, I would say if anything, they appear to have bought more shares.
We know they were allotted 4,126,500 each as fees, but the latest holdings rns stated they held another 4,040,000 jointly.
I can't see where this 4,040,000 came from?

You probably need to check your RNS's again. The Badenhorst deal was for 60% cash, 40% shares. The overall price was $1.26 million. The deal was supposed to be:

1. $126,000 cash
2. $504,000 in shares (at $0.10 per share) = 5,040,000 shares
3. $630,000 in cash

Since the company was short on working capital (IMO), they offered the Badenhorsts a deal they couldn't refuse:

1. $126,000 cash (already paid)
2. $504,000 in shares, 5,040,000 shares already issued and
3. $630,000 in shares (at $0.076 per share) = 8,253,000 shares

making the total Badenhorst holding 5,040,000 + 8,253,000 = 13,293,000 shares

http://www.uk-wire.com/cgi-bin/articles/200408040700065934B.html
http://www.uk-wire.com/cgi-bin/articles/200412301535399162G.html

You can see in the first RNS that it states the second cash payment was due on 30 November 2004.

If the Badenhorsts had wanted the shares, they could have agreed a different contract at the start and would have been issued 90% at $0.10 per share. This would have been 11,340,000 shares. But because the company was obviously short of funds, the company offered them extra shares to take the 90% in shares:

13,293,000 shares issued - 11,340,000 shares (@$0.1) = 1,953,000 shares EXTRA

So if you look at the original deal price of $0.1 per share, that 1,953,000 shares is worth an extra $195,300 to the Badenhorsts. All they have to do is sell the extra shares on the market and retrieve the cash.

The Badenhorsts have been very smart, as they've split the shares to make sure that they hold non-notifiable amounts. Austrialian law states that any amount over 5% has to be notified and any sale below that level (or a whole percentage point). So the Badenhorsts can sell their shares and don't have to tell anyone that they did it.

Well bully for them, then.

Now, back to the diamonds:

http://www.new-millennium.com.au/gallery/index.php?p=106&c=16

mjr, look at the afx below from november... this can be found news older than 30 days on nml on moneyam:

New Millennium forced to change shareholding meeting after CFO death threat
AFX


LONDON (AFX) - Aim-listed diamond miner New Millennium Resources has been forced to change venues for its shareholder meeting tomorrow following death threats to the company's chief financial officer, sources close to the company said.

Plain clothes City of London officers have been allegedly called in after a decision was made to move the meeting from broker Seymour Pierce's offices because of the alert.

A source close to the company said the threat to Shane Healy is believed to have come from a disgruntled small shareholder.

The miner, which has interests in Angola and Greenland, recently had a private placing at a 30 pct discount to the current share price.

rn/ec

Anomolous, thanks for the post. It seems to make sense to me the reduced holdings and no declaration. Do you think healy is taking backhanders from them too??

It would instill more confidence in the company if they kept them or bought more!!!!!

mjr
Thank you for drawing my attention to the new pictures. I particularly like the one of the diamonds. There is a copyright protection on the pictures, as I thought.
Is that a barge that is in picture 4?

It is possible to post them by copying the screen to an image file, cropping and then posting the resulting image to a website.

Cheers, legend. There's some strange people around!

legend
I take it that you are not a shareholder?

Not sure what that is in picture 4, takahe. Could be a raft or barge.

It's nice that they update the pictures...I wish they would update the shareholders. I wonder if Dr Michael Smith has visited the site? His independent report was quite extensive. Has anyone read it? Leon Daniels, the well-known geologist, has offered to look at the kimberlite for the company.