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 thread seems even worse than ADVFN!
I won't bother posting any more 'news'....

takahe,

In Angola, corruption, it's a stone cold certainty!

And they are one of the few countries in the world with internal customs, so there's more "greasing" to be done there!

They could be in Joburg trying to tie up a deal, a JV, or maybe to buy the required equipment, we shall have to wait and see.

Takahe,
Can you get your P R chap to confirm the time it takes to reach site, is it weeks or months , if he can get weeks mixed up with months i don't think they should let him issue any press news, LOL

tell you what..you ask him!

takahe,

You seem to be becoming somewhat uptight, i assume you must be a large holder!!!

what i cannot understand is why they would stop the alluvial mining just before they said they would report values, and future profit projections, and move the whole set up to the top of a kimberlite where they appear to have done no exploratory drilling at all!!!

and if they did this for the reasons stated by the pr guy, why didn't they at least put out what they had actually mined before the move to kimberlite mining???

have they actually mined anything yet???

And if so how many carats, have they sold them, and what were they worth???

something appears not quite right here!!!

Not to mention no reply from either NOMAD or Directors to my email. I'm sure they are busy men all, but look at the courtesy extended by many other Chairmen/CEO's/PRO's on other companies.

Being wrong in the speculative mining business is part and parcel of the game. Being arrogant about it is very dangerous.

Even having lost more than half my investment, I am contemplating cutting my losses on this one.

Anyone got any views on when we might get reliable positive news?

sd

Not to mention no reply from either NOMAD or Directors to my email. I'm sure they are busy men all, but look at the courtesy extended by many other Chairmen/CEO's/PRO's on other companies.

Being wrong in the speculative mining business is part and parcel of the game. Being arrogant about it is very dangerous.

Even having lost more than half my investment, I am contemplating cutting my losses on this one.

Anyone got any views on when we might get reliable positive news?

sd

aimtrader...not uptight about it. I am disappointed that the company have not put out any indication of what they have found so far. I have made my feelings about that quite clear to SH, as I'm sure you have, too. There is no excuse for not replying to shareholders emails, either. Their decision to pursue the kimberlite must have been taken quite a while ago, judging by the size of the holes in the ground. They didn't dig those ten minutes before the RNS!
What I assume they have been doing is getting down to the Calonda formations above the kimberlite.
The Calonda Formation is essentially a continental redbed sequence of felspathic sandstone (arkoses) and basal conglomerates (locally called gravels), with argillites (fine sands and muds) appearing in the upper part of the sequence. The thickness of the formation varies from over 30 metres to small thin pockets of sediments preserved from erosion in basement depressions. The Calonda formation comprises two main conglomerate/gravel beds; both well defined although irregularly stratified. The lower unit consists of generally rounded reddish pebbles, whereas smaller rounded white pebbles predominate in the upper unit. The lower gravel unit, varying in thickness from 0.42 - 1.10m, usually supports a higher diamond grade. The gravel itself usually consists of siliceous (predominantly silicified sandstone), Commercial quantities of diamonds occur in the basal conglomerates of this formation and result from the erosion of diamondiferous kimberlites. Ore grade deposits occur either adjacent to kimberlite or more distally where there are well developed palaeo river channels in the conglomerates.

They can mine these, within the terms of their alluvial license.
The company claim that Alrosa are looking covetously at their kimberlite and they HAVE to take the opportunity to get the chance of a JV with a major...to do a Petra.
We either believe them..or not!

ASMITH - I note that you disagree with the opinions of others on this thread, but what interests me is why your posts have to be so insulting, irrational and even a little childish?

takahe,

nice geology lesson, but we need to know whether thay have found any diamonds or not???

Strange that they stopped alluvial mining just before they were due to upate the market about profit predictions and grades!!! don't you find that strange???

is it true they havent drilled the kimberlite???

if so, how confident can you be that they will find anything without any prior drilling??

i would have thought they would have drilled first before spending large amounts of money moving so much overburden for the top.

will they need more money soon do you think???

this still looks extremely risky

Aim,

some good questions IMO.

I have not seen any anouncement by NML that confirms any drilling at all, so you have to assume they are simply "going for it" in a sh*t or bust situation.

I agree it's strange that in April the announced the commencement of mining, with a promise to update the market in June, and now they have "temorarily" transferred to the kimberlite, but have not updated the market on the results form the alluvial mining!

>Andy

I also agree that aimtrader posed some good questions. Very relevant to all that I've been claiming about NML for the past 4 months.

From what I understand, considerable news about the operations has been passed to Mclellan/Takahe by emails from the PR people/company. Theses were hinted at by the posts on ADVFN and Fillyaboots. Hence the fact that she (and WDurham) knew about the overburden being moved, but that this was not RNS'd to the market in general. This maybe something that the authorities should look into, because it suggests that the company is up to their 'old tricks' again.

If one is to believe that this overburden was removed from over the Kimberlite, then the amount of material they have relocated (180,000 cubic metres), suggests that they have been concentrating on the kimberlite for the past 4 or 5 months.

What concerns me is that the company never announced this change of focus, until the announcement at the start of June. Yet if they had been working on the alluvials over the kimberlite, they one must suppose that they had been doing so since January or February.

The fact is that they didn't announce commencement of the alluvial operation until 4 April. It's highly unlikely that they could have moved 180,000 cubic metres of material in less than two months.

You only have to check their production figures from the project summary to see that the company estimated they could only move 1.095 million cubic metres of material at 20k carats per month. So for 10k carats per month, that equates to 547.5k cubic metres per year or 45,625 cubic metres per month.

So even at full speed, it would take 180,000 / 45,625 = 3.95 months to move 180k cubic metres. So logically, in order to tell the NML shareholders that they had moved 180k in June, they should have started in February at the latest or probably even January.

Remember, they can move earth at the maximum rate from the moment they start. As most of it is overburden, it's not being processed. So there is no limitation factor, from the work up period on the processing equipment. But the facts remain, that in order for the company to have moved 180k cubic metres over the kimberlite, IMO they would have to have started this work, a good two months before they announced this price sensitive change in the focus of operations to the market. You have to wonder why they chose to hold this information from the public.

On the other hand, if this 180k had actually been moved from the Garimpo and not over the Kimberlite, then in doing so, they have actually made the artisinal miner's jobs a lot easier. These miners could be thanking God that Alrosa distracted NML's attention at the critical moment. Now that the ore has been exposed, they can get in quick and steal their diamonds whilst NML is working elsewhere.

The suggestion is that the 180k was moved from over the kimberlite, so we have to ask why they failed to announce their change of focus? But more importantly, why did the company say that they were going to release information about their alluvial extraction at the end of June, when they were already working on moving the overburden from over the kimberlite and not processing the known and proven alluvial resource?

There are just too many questions that suggest that they are not doing what they said they would do, or what the shareholders think they are doing, but doing what they want to do and "to hell with the consequences".

If they keep this up, it can only lead this high risk company to a victory or bust situation, with the odds stacked on a bust.

Share Whisper: NEW MILLENNIUM (rumoured to be in early stage talks to reverse another business into it. New Millennium's Angolan prospects are also though to be on the radar screen of several quoted UK mining companies)

Aldwick...where did you see the Share Rumour???

Anom,

Yes the amount of overburden cleared in their initial photos suggested they had changed focus some time previously, I have to agree.

I see NML as an outright gamble now, it could ge either way.

Aldwick,

What was the source of that rumour please?

With regard to NML's Angolan prospects, I was thinking about which quoted UK company may be interested.


FDI?

I don't think so, thay have sufficient projects, and are concentrated in SA/Botswana, politically stable areas.


AFD?

Don't think so, although Teeling's spin could charm the diamonds out of the garimpo!


EPD?

Doubtful, concentrating on lesotho preouction and Finland exploration.


Mano?

Possibly, they already work in politically unstable and similar areas in other parts of Africa, and are splitting their gold and diamond operations.


Petra?

The most likely (IMHO) simply because they are already in the vicinity, and are known to be looking for other projects.

hmm it seems Aldwicks rumour was in the Daily Mail

Dynamite,

Someone just said the Daily Express!

Apparently it was in the Daily Express....
Aimtrader..re your questions...I can't answer your question about how much drilling they have done on the kimberlite but I understand that they are going on the directions of the geologist.I don't find it odd that they have suspended the normal alluvial sampling because theyare going for the bigger prize and have limited resources. Looks suspicious, I know. You either trust them or not....

Anomalous...I have just seen this of yours 'From what I understand, considerable news about the operations has been passed to Mclellan/Takahe by emails from the PR people/company. Theses were hinted at by the posts on ADVFN and Fillyaboots. Hence the fact that she (and WDurham) knew about the overburden being moved, but that this was not RNS'd to the market in general. This maybe something that the authorities should look into, because it suggests that the company is up to their 'old tricks' again. "
.....you'll be hearing from MY lawyer, if you are not careful. That is outrageous!!!!!
You know perfectly well that they have been removing overburden..how else can they get at the diamondiferous layers? As for your ideas that they have been removing overburden since January...no idea.
As for me hinting at things...I don't hint. I share information if I have any, same as you do with EPD. Ask Andy...