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 ??

Eric,

This "anomoly" you mention is casuing some confusion IMO.

It would appear that NML are simply trial mining (IMHO), and NOT in full production yet, hence the reference to June 2005 in their RNS DD 30.03.05.

They then release another RNS, FOUR DAYS later, announcing "production has started".

This is contradictory IMO, and is an example of the poor communications given out by NML.

I do not believe they have complete the required 5000 carat parcel, and therefore are not yet in possession of the required mining permit, to be issued by the Angolan authorities.

This is the reason I think they are still in exploration, although they are now ramping up to production, and will, therefore be mining diamonds.

Andy,
As stated in their RNS, they are in production.
They do not require the permit to dig the diamonds up, since they
have obviously been doing this for months, but they would require
a permit to actually trade the diamonds.
A 5000 carat parcel will make an excellent trade!
especially if it's filled with green biggies!

Andy: it all depoends what you mean by production, I suspect. The production must be enough to (a) get the 5000 carat parcel; (b) to be able to confirm forecasts by June. The Endiama approval to start production appeared to be primarily around safety matters. A previous RNS said that it would take 3 months to build up to 10,000 carats per month. Can't see the point of 'trial mining' - haveen't they been through that process? Perhaps Filthy Poor can clarify.

Eric

Eric,

Yes I agree completly, I maybe didn't word my post as well as I might have.

I meant by "trial mining" they are starting production, but without the required production licence, which has to be awarded before they can sell any diamonds.

I guess they will have this by June, hence the date in the first RNS.

Yippee!
I believe, we are now, all singing from the same hymn sheet.

Rising to paeons of praise in June! EWR

June is only 4 and a bit weeks away!

Some buyers around the past few days....

Could it be shorters forced to close out positions???

Either way positive..

Would have thought price may have gone up given the quantity of buyers....

legend: not that much in the way of buying. Biggest buy this week has been 11K. Eric

yawn...

calm before the storm?

As long as there aren't big storms in Angola!

Raining diamonds, so I've heard! Stocking NMLs coffers and ultimately yours and mine!

I really hopes so...This woman really loves diamonds :-)

Di: I believe you love lolly too! Take a look at ITR and recent posts. Putting their own release together with that of Red-M, it appears that their holding in the new flotation in June on AIM will be worth at least as much as the current cap. of the whole company. Not twigged yet by the market. ITR's interims and the analysis of their holdings gives credibility to the viewpoint.

Eric

Thanks Eric...I've no spare dosh at the mo...I am awaiting NML or Griffin to get going on the mining or for the market to wake up to YOO...tick tock :-)

Anyone thinking of topping up at this level before news?

I know I am.

Banking on nothing more until June; then depends on progress elsewhere during May. But sensible to go in now if you have the spare dosh.

Mjr

No, think i will just watch this one and not buy.

Eric

Asc down a bit today - any reason??!

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