Millennium Resources NL is a mining company with operations in Angola, one of
the world's major diamond producing countries.



In 2003, New Millennium Resources NL entered into an agreement to acquire 100%
of Angola Resources Pty. Ltd. (Angola Resources).

The company is currently developing its Lapi Diamond Project in Angola, in
Southern Africa, which will initially produce diamonds from an alluvial mine
that is expected to generate an initial cash operating surplus of US$1.2
million per month.

Extensive mapping and exploration has identified an inferred resource of 3.7
million carats and the tenement has the potential to deliver of profit of
US$112 per carat recovered. There is potential for 8.7 million carats just in
the currently known area.

This places New Millennium Resources on the verge of becoming a prominent
producer of some of the world's finest diamonds.




Corporate website : http://www.new-millennium.com.au/index.php

Apparently the trucks left Luanda for the C9 concession at 3am Saturday morning, so will hopefully be well on their way now.

Will update as and when futher news is announced.

According to our man Baughfell (17th August)the trucks were loaded then and with three weeks trip to site and one week to set up equipment, so mining should have started by now!

I recommend you guys to add your comments to the main string for this share - this one will just split the comments and information.

Also see my comment on the other string re. equipment - I think you may be right nkirn.

Well the recent RNS was not what we had expected or hoped for!

The major disappointmet (IMHO) was the confirmation that revenue enhancing mining would not comence before "early" 2005, rather than now, which we had been led to believe was the reality.

I for one am not impressed, and unless they put out a correction, will reduce my holding in NML, possibly sell all.

This is not what NML were saying up to a couple of weeks ago!

I just found my original NML thread, those posts seem a lifetime ago now!

the chart doesn't look too special!!

this is being slammed on advfn, seems they are long overdue on production...

at least this is more civil becuase its a circus on the other side!!!

kept my eye on nml but think its a huge risk, where are the diamonds???

Exactly, good call... there are no diamonds!!!

Well they're due to make an announcement in the near future, so we will see.

It was due to be in June, but a late minestart will probably man July.

This is the latest news release form NML, output today.

It is, IMHO, quite appalling, and IMO it appears they may need another placing soon, as they now admit to having only raised 2.5 million at Xmas, not the 5 million previously stated, and 2 million has already been spent, so they have possibly less then 0.5 million left!

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Page 1 of 5
SHAREHOLDER UPDATE
20th March 2006
Dear Shareholder,
On behalf of the board I am writing to you to provide an update on where the
company has been and is going since the last public announcement. No
amount of spin doctoring can disguise the fact that we have been through a
turbulent twelve months. With the CEOs resigning in October I took on
responsibilities as CEO and Managing Director on a caretaker basis until such
time as an executive with a mining pedigree could be sourced.
A number of shareholders have telephoned and written to me expressing
concerns that I may jump ship leaving the Company to founder. I can assure
all shareholders that I shall stay on and see the Company through this period
of restructuring.
We are confident that the Company is now on the road to recovering
shareholder value and has a bright diamond future and we hope you will
accompany us on that journey.
Shane M Healy
CEO
SUMMARY
Three new diamond concessions acquired
Acquisition consideration 2 m cash and 575 m shares
Valuation of acquisition 11 m (US$20m)
Exploration subcontracting to CSA Group
Mining operations subcontracting to ITM Mining Limited
New Listing being pursued
Projecto Lapi C9 concession terminated
Greenland JV with Hudson continues
2.5 m in cash received from December placement
Remainder of 5m placement cancelled
Proposal to re-brand Company
Proposal to consolidate shares
CEO based in London
Page 2 of 5
NEW ACQUISITIONS
The board is pleased to announce that the Company has acquired a
20% interest in three diamond concessions in Angola for 2 million in
cash and the issue of 575 million fully paid ordinary shares. These
concessions have alluvial diamond exploration rights with an explicit
right to a kimberlite exploration license. These concessions differ from
the Companys C9 concession in that there is a specific right to a
kimberlite license on the new concessions. The C9 license had only an
implied right to a kimberlite license. These concessions are on the
normal basis of participation; ENDIAMA 51%, Local Partner 14%, NML
35%. The three concessions are:
Luanguinga Concession
The Luanguinga Concession comprises an area of 3,000 km2 and lies
in the province of Moxico on the southern margin of the Lucapa
Fairway. The area is accessible by road from the regional centres of
Lumbala nGuimbo or Luena. CONDIAMA and DIAMANG have both
carried out exploration in the area prior to independence and identified
alluvial and kimberlite potential.
Samugimo Concession
The Samugimo Concession comprises 3,000 km2 and lies in the
province of Lunda Sul adjacent to the Moxico boarder with Lunda Sul.
It lies within the Lucapa Fairway. The area is accessible from the
regional centre of Luene. CONDIAMA and DIAMANG have both
carried out exploration in the area prior to independence and identified
alluvial and kimberlite potential. This license block is in an area that
produced many of UNITA diamonds that fuelled the civil war.
Buenge Concession
The Buenge Concession comprises 3,000 km2 and lies in the province
of Lunda Nor and is centred on the town of Buenge. It lies north of the
Lucapa Graben and may lie on a new diamond fairway that extends
from the DRC into Angola. Parallel to the Lucapa Fairway. The
concession is part of a major new initiative by ENDIAMA and the
Ministry of Mines and Geology.
VALUATION OPINION
An Independent valuation opinion has been sought by the board from
Eur. Ing. Dr. Michael H. Smith FIMMM, C. Sci, C.Eng. Economic
Geologist. Dr Smith is a Competent Person under the definition. This
opinion values 100% of the three concessions at US$300 million. This
values the companys proportion (20%) of the concessions at US20
million (300m x 35% x 20%).
Page 3 of 5
OPERATIONAL PLAN
As a mining and exploration junior the Company lacks the resources
to acquire depth of mining expertise to fully exploit its assets. In the
past the Company has sought to retain its own exploration and mining
personnel in house. This has proven difficult in emerging areas such
as Angola and in a sector where there is high demand for specialised
talent. In view of this the board has sought outside assistance to plug
the talent gap.
Exploration
The Company is in discussions with CSA Group to carry out its alluvial
and kimberlite exploration in Angola. The CSA Group was established
in 1984 and comprises a team of over 40 geoscience and engineering
professionals, with offices in the U.K., Ireland, Australia and Angola.
This core team is supplemented by a network of international
associates, together providing technical, due diligence, independent
expert and project management services to the international mining
industry. CSA has previously completed Independent Reports and
Valuations for listings on the London, Dublin, Vancouver, Copenhagen,
Luxembourg and Australian Stock Exchanges. CSA Group has
Portuguese speaking personnel on the ground full time in Angola with
diamond experience. CAS Group currently has twelve diamond
projects under management in Angola and a number in the DRC.
Alluvial Mining
The Company is in discussions with ITM Mining Limited to carry out
its alluvial diamond mining operations. ITM is the longest operating
mining company in Angola and produced over 1 million carats in 2004.
ITM is the second largest producer of diamonds in Angola after Catoca.
One of the most notable features of ITM is its clear understanding of
the realities of Angola, which has made it possible for ITM to develop
mining activities in remote areas where both working and logistics
conditions can be extremely difficult. At present the ITM mining
operations provide employment for over 1,500 people, most of whom
are Angolans.
PROPOSED OFEX ADMISSION
The board is evaluating the most appropriate exchange on which to list
the Companys stock. The CEO has been in discussions with Ofex
executives and has made enquiries with other exchanges with a view
to listing. As yet no decision has been made as to which exchange will
be selected. It is the intention of the board, as a priority, to list the
Companys shares in the most cost-effective and timely manner.
.
Page 4 of 5
EXISTING ASSETS
Projecto Lapi (C9 Concession)
It is the boards intention to withdraw from Projecto Lapi. The
Companys wholly owned subsidiary Angola Resources Pty Ltd partner
in and operators of the concession was ordered to stop operations on
the Rio Lapi site by ENDIAMA late in 2005. Application has been
made to ENDIAMA for a kimberlite license for C9 without success to
date. It is the boards opinion that a kimberlite license for the company
on C9 is most unlikely. It has therefore been decided that any further
investment in C9 was not the best use of the Companys funds.
Indications are that Catoca will assume all diamond rights to the area.
The Companys wholly owned mining plant and equipment on C9 will
be redeployed at the new concessions.
Greenland
The JV with Hudson Resources of Canada continues and shows
promise. Hudson has announced an aggressive diamond exploration
plan for 2006 and is optimistic as to the likely success of the project.
New Millennium has a 20% free carry agreement with Hudson.
BACKGROUND TO STEPPING DOWN FROM AIM
Suspension from Trading
On 6th December 2005 the Company announced the issue of
1,000,000,000 shares to raise 5 million. As a result of business
interruption caused by the Christmas New Year period, just on half of
these funds remained outstanding at the commencement of business
in January 2006. It is an Accounting Standard requirement that shares
may only be allotted on receipt of funds. Consequently the Company
allotted shares for those monies received (2.5 million) and did not allot
shares for the outstanding monies. The market may have been of the
understanding that 1 billion shares were now in the market and that the
Company had received 5 million, both of which were not the case at
that time. The Company requested a suspension in trading of its
shares just prior to lunch on 6th January 2006. This was sought to
allow time to fully inform the market. The Nomad resigned after lunch
on that day. As a result the remaining funds were not forthcoming and
since de-listing are no longer payable.
De-Listing of Company
The Companys delisting was triggered by the resignation of the
Companys Nomad and Broker. Our legal opinion is that we should
expand no further on this matter at this time. To appoint a new Nomad
and broker, would have prevented the company from being de-listed
however it would not have led to the shares being immediately tradable
through the market. For this to happen, a full readmission document
was required by AIM. Our cost estimates were in the vicinity of
300,000-400,000 and taken up to 6 months of the Companys time,
under the new regulations which have recently come into effect. The
Board decided, on a cost benefit basis, not to reappoint a Nomad thus
precipitated the de-listing of the company.
CORPORATE MATTERS
Re-branding
Consultation is being sought as to re-branding the Company. The
name New Millennium Resources may not properly reflect the
Companys emphasis on diamonds. With a view to the past, the
Companys future needs may be more achievable and better served by
a new name. Re-branding the Company may be a prudent strategy to
add shareholder value. Any change of name requires a general
shareholders meeting under Australian Corporations Law.
Shareholders will therefore be fully consulted should the board
consider this a desirable option.
Consolidation of Shares
The Company now has on issue 1,345,845,585 fully paid ordinary
shares. The board is considering a consolidation of the stock back to a
more manageable number. Any consolidation of shares requires a
general shareholders meeting under Australian Corporations Law.
London Operation
The CEO is now permanently based in London. Its proximity to the
London capital market and Angola make it a more appropriate base
from which the CEO may operate the Company. As the Company is
an Australian Incorporated entity, its registered office will remain in
Perth.
London
20th March 2006

Looks like 'all' is not lost at NML

Everything is to be sold in exchange for shares in Hudson, Simba Mining and an Angolan Diamond mine as yet to be disclosed. There is to be a consolidation of 1:100 of NML shares

For every 100,000 shares you hold in NML you will get;
44 Hudson shares
557 Simba Mining (KMR Ian Egan is the Chairman of Simba and looks like they will list on AIM)
1871 shares in a to be disclosed Angolan diamond Mine

If like me you had wwritten NML off completely this has to be better than nothing
Di

Diamond co better be worth loads (which I doubt)...working this out CA:HUD are only worth $1.23 and US:SBAM $0.17 so the pair of them equal 1.6% of my original investment in NML :-( that ain;'t much...oh dear maybe I should just write it off..NML are saying that the end result will be 1.1p per share so unless the diamond mine is worth alot this doesn't add up in my mind anyway
Di

Di,

As you rightly say, an unexpected bonus if you have already written them off.

The French connection, was right about this company all along.

aldwickk
He always is it's The French connection

aldwickk,

He shared the views of a few of us, but sadly we were mostly shouted down by a vocal minority.


I am really pleased that shareholders will receive something back, and they can put NML behind them.

21st December 2006





Dear Shareholder,



We are pleased to announce that the Company has entered into an option agreement to acquire an 80% interest in two copper cobalt concessions in the Democratic Republic of Congo (DRC). The concessions cover an area of approximately 800 square kilometres and are situated in the copper rich Katanga region of the DRC. The remaining 20% will be owned by local Congolese parties as is the practice.



The concessions are in close proximity to the operations of Canadian copper miner First Quantum Minerals and close to the Zambian boarder in south eastern DRC. The concessions are for 15 years with options to extend. Copper grades, yet to be confirmed, show high yields with potential for artisanal mining operations in stage 1 of the project which is expected to produce early cash returns.



We have negotiated a JV arrangement with an operator to fund the project. The payment will be by way of a workout agreement therefore preventing dilution of shareholders stock.



The DRC has experienced heightened interest from large international miners since the recent elections in the country. Phelps Dodge, the worlds larges copper miner, has recently announced massive expansion plans in the DRC. BHP and Rio Tinto have also increased their activities in the country.



The board further announces that it is in advanced stages of discussions with a listed entity to acquire New Millennium. The boards stated aim is to achieve a value of US$0.02 per share for its members. This is the basis of our negotiations and we are confident will be achieved. Acquisition will be by way of a share swap. The prospective suitor intends making application for AIM listing in the New Year.



Due Diligence is expected to be completed within 90 days and settlement 30 to 60 days thereafter. Your board expects that all steps will therefore be completed prior to the northern summer.



Yours faithfully







Shane M Healy
CEO

To be acquired by an entity yet to list in a share swap! So a reverse takeover into a cashless shell. Classic.

!) how can they predict the value will be 2 cents?
2) at that price it should be cash - if they can't raise even that, all this is is a reinvention of the same old management under a new name.

Hey, why not try Copper this year - Copper is the New Diamond. Next year we'll be looking at Uranium and for 2009 we thought, what the heck?, let's try Wheat.

BTW I think of myself as an "artisanal shareholder" not in it for profit so much as humiliating subsistence.

Please yourself- I'm just passing on the update I received.
I don't like the situation either...not one bit...but having spoken to Healy recently, I do believe he is trying to sort out the mess created by John Cross and restore some shareholder value. He pointed out that he could just have given up...and that he has not received any salary since they de-listed.

Andy- post 10 ...how do you know they spent 2million? He pulled out of the deal.
Happy new year, by the way.

takahe,

Many thanks, and a Happy New Year to you too!

Let's hope it's a sparkling and prosperous one for all of us!

Sorry I have only just seen your message, and cannot remember how I heard they had spent the 2 million, to be honest, but I wouldn't have posted unless i believed it to be true, it seems so long ago now.

The recent communication looks good to me, if Shane can return 1p per share, that is a lot better than I thought possible, and many people had averaged down, so this would substantially reduce their losses.