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
how is alluvial production proceeding? - no information yet, but going to plan, according to their PR person

have they found any diamonds and to what value?- no information yet

when can they start to turn these into revenues?- they may already have started to do that. They can sell diamonds. They are a producer..they do not have to announce that to the market, unless it is something exceptional, as I understand it

do they have enough cash to sustain the operation?- don't know, but probably especially if they are able to sell diamonds

takahe - thanks for the honest attempt to answer my questions with what little info there is. Patience required and not a little faith until they choose to make an announcement.

Wendy D - 13 Jun'05 - 17:30 - 812 of 814
And they don't need an export licence as long as they sell through SODIAM - which they are probably obliged to do at the moment.

Yet more drivel and rubbish from Wendy D - she obviously didn't read NML's Project Summary.

Are you going to pay the directors' fines for getting them reported to AIM. After all, you were responsible for provoking the complaint. If you hadn't denied that anything was wrong, the directors wouldn't be under investigation. I expect that if the AIM fines the directors, Wendy D will crawl into her hole to avoid responsibility.


NML received permission to export the diamonds themselves. Not through SODIAM. So they do need the license in order to export the diamonds out of the country.

It states that NML intend to export and sell the diamonds in the NML Project Summary:



If you look at the bottom it says so.

The granting of the license would be price sensitive news and it also shows that the company managed to mine the representative parcel. Again that parcel would be price sensitive news.

Anomalous1 - so, BORING! Can't you conduct your silly fight with Wendy by private email. We do not need you to tell us what to think of everyone else's posts - we can make up out own minds.

SQUELCHED.

Wendy,

J. Cross said they need a FULL mining licence to sell the diamonds, I don't believe they have yet obtained this.

He added they needed to prove competence by assembling an initial 5000 cara parcel.

If they have, IMHO there should have been an RNS IMHO.

>stockdog

If you simply accept as gospel what other people tell you, how are you going to know if they've misled you or deceived you?

Wendy D has very conveniently told you several half truths to back her claims, but avoided giving you the full truth, because she knows it would work against her.

For instance, she claimed that the Badenhorsts and the directors accepted shares. But what she didn't inform you was that the company couldn't afford to give them the cash because they wouldn't have had enough working capital.

She conveniently told you the convertible loan note holder accepted shares now and forewent the interest, but she knows full well as I proved in previous posts, that if the NML share price dropped (as it has) then the convertible loan note holder could be issued with less (in value, after 12 months, even with the interest) than the amount he loaned the company in the first place.

The deal was agreed at 4p per share. If the NML price went as low as say 3p per share, this would mean that the lender would be losing $312,500. That's a serious significant loss. The only way that the lender could reduce their risk, would be to convert the loan to shares now, then to sell some of these shares into the market at greater than 4p.

For every 0.24p over the 4p, the lender would recover the 6% interest that they had foregone. It's worth noting that in the April RNSs, Al-Wakalah stated that they held 13,333,333 shares. They were issued with 16,666,667 shares. So you have to ask where the other 3,333,334 shares went and whether they were sold into the market and were responsible for artificially depressing the share price?

These shares were issued in January, whilst the share price was still above 5p. So it could be that the lender sold shares and gained 24% interest on the portion he sold and reduced his risk.

However, since the person that has since stated he has an equitable interest in the Al Wakalah issue is Datuk Fung-Chee Lim, one of the directors, you then have to ask if the statement about "no director having sold" is correct?

If you simply accept as gospel what other people tell you, how are you going to know if they've misled you or deceived you?

...how very true!

At least I have given you evidence that you can check for yourself. By all means, doubt what I tell you, but check it out for yourself.

You didn't see Wendy D providing proof that I didn't give her every opportunity to accept the directors' discrepancies, before we went to the AIM. She obviously couldn't because it is there in black and white.

You didn't see any proof from Wendy that shows why the Badenhorsts accepted the extra shares.

You didn't see any proof from Wendy, proving her claim that there is nothing wrong with the directors' declarations - because she couldn't.

The simple fact is that the investigation into the directors' dealings is not 'minor matter of no consequence'. It goes to the fundamental reason why there have been so many shares sold, at such a low price and that (as a result) has artificially depressed the share price.

The figures in the 22 April RNS do not explain the discrepancies between the previous holdings and the issue in December 2004. So the statement about there being no director sales can not be taken as a statement of fact. Until this has been resolved, there remains the possibility that the directors have sold or transferred shares in NML and that as a consequence the statement is incorrect.

From the prices of the transactions, it certainly appears that the 'mystery' seller was one of the placees that purchased at 3.7p in 2004. However, if the company is supposed to be worth so much more in such a short period of time, it is a pertinent question to ask why the seller should be dumping such huge quantities of shares at such a low price?

You can not simply explain (as some fools have tried to) that this is some 'forced' sale due to probate or bankruptcy. The number of sales and frequency suggests that the holders have been consistantly and persistantly dumping shares. They may very well have placed an order to sell a larger number of shares and their broker is selling as much as the market will bare, without depressing the share price below the purchase price.

But the question remains, why would someone want to dump the shares if they are likely to be so valuable in such a short period of time?

One wonders why you feel the need to repeat this over and over again?

He is a one-trick pony.

Hopefully there will be news from the company soon and then we will be in a better position to judge what the prospects are.

takahe,

Exactly!

>takahe & bundu

You might have cause to heed these posts, if this all goes pear-shaped over the next 14 months. Maybe you ought to remember these posts, as you may have cause to check them against the events that happened.

Some of you have already noted that I correctly analysed in November 2004 that:

1. The share price would reach 4p
2. That the company would dilute and
3. That they would fail to start production in February (as they said they would).

So you should note that in my view and opinion:

4. The company is likely to fail to be cashflow neutral at year end (as they stated they would be),
5. The 'mystery' seller will return and sell more shares (which might cause the share price to drop back down to/or below 5p),
6. That the company might not get the kimberlite mining licenses,
7. That the company might carry out another dilution during the next 12 months,
8. That the company might average less than 8,000 carats per month during the entire year

IMO, the news from the company at the end of the month (or afterwards), will cause the share price to rise, but I doubt that it will stay there. The mystery seller, whoever they are, will more than likely continue to offload and bring the share price back down.

I also sense from the posts on the other BB, that a number of the posters are upset at the lack of positive news about the operation. In my view, this, coupled with the failure of the share to breakout above 8p, will encourage a number of shareholders to close their investment with a small profit, or to sell at breakeven, to seek better prospects elsewhere.

14 months on, the biggest hurdle will be whether the company has managed to obtain enough data to convert the inferred resource to proven reserves. If the company does move to 20,000 carats per month in the time period they suggested, then the Garimpo may be emptied sooner than you think. In my view the institutional investors will also be looking to this, to decide whether NML has a profitable future measured in years or in months.

Time will tell who is right. I am confident that quite a few of my predictions will be proved correct. The management are so 'incompetent' (as Wendy D called them) that it's likely they will assist in proving me correct.

It's like lying back in a warm, bubbly bath - reading this thread with Analmouse squelched. You should all try it - it's so peaceful.

woof woof

sd

You are right SD...and the thread looks much shorter like it used to before that idiot came over from Advfn....now we just need to sit in peace and wait....tick tock.
Di

Ignore Anomalous`s posts at your peril.He has gone to great lengths to provide us with proof of the sellers and who is selling.
Anomalous will be proved very right here at the expense of the likes of crosbie mclellan rbonnier and company.
WDurham is not all that people think Minmet springs to mind.There are dark forces working here the obvious clue that this could go pear shaped is the huge seller taking sub 4p for their shares but more importantly it is the identity of the seller that gives this away as a probable dud.Anomalous has tried to identify this seller.
I repeat ignore and rubbish Anomalous at your peril it may well turn out to be a very very costly mistake.

"Anomalous has tried to identify this seller."

Where?

You obviously haven't read his posts.

The "seller" finished about 3 weeks ago.

With the 500k and 1M 'K' trades. Pretty obvious really.

Anomalous/Anomalous1 is a bitter and twisted obsessional who spends most of his waking hours posting reams of biased opinion cleverly dressed as fact, with tables, fancy colours and pages and pages of text to give the impression he is a serious and experienced investor. When in fact he is nothing of the sort. The only thing that will save his sad little life, is if everybody ignores him. Then perhaps he will move away from the computer and discover real life again.

"Dark forces" - LOL!

"Desperate derampers" more like!

Looks like its going to be a very painful lesson for some a financial disaster for others but I bet none of you come on here or the other bb and say we should have listened to Anomalous.If only we had listened to Anomalous will be what you are saying to yourselves.!