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 ??

Just read that remark of Anom's again...it really is so ridiculous.....'knew about the overburden being moved, but that this was not RNS'd to the market in general'....
What do you think they were doing..playing tiddlywinks in the rain?We all knew that they were DEEP down only when those photos appeared on the web-site...

This is an email I sent to Healy 2 weeks ago:

Hi Shane
Still in my pursuit of trying to find out what has happened with NML.
As I understand it, the plan was to mine alluvial diamonds which were not
too deep under the ground and there were some samples which indicated that
there was a reserve there. This is the basis on which I invested in the
shares...not too deep down, and easy to extract. Not counting all the months
of hassle with the weather etc, 3 months pass since the company announce
mining has started and we all wait eagerly to see what grades will be like
from this relatively shallow source.
We then get some pictures on the web-site which show huge, deep holes in the
ground .Even I realised that something different was going on!
We then get an RNS saying 'sorry folks..change of tack etc' and NO news
whatsoever of any alluvial diamonds having been processed. At what stage did
the plan change? Obviously quite early on, judging by the size of the holes.
I do not think it is unreasonable of me to ask..why ? You could say that you
are still mining alluvials but from a different source, if you are hoping to
get some diamonds from the crumbly layer on top of the kimberlite.
I don't like to bother you..I am sure you are busy..but unless this strategy
works ie. securing a joint venture ..you are presumably back to square one
and will have to raise a lot more money to start again with the shallow
alluvials.
I appreciate that you have said there is time pressure to secure 'your
place' and that may well be true.
Some shareholders are very unhappy at the turn of events and would like to
know why there has not been more information made available to them. The
company has broken many promises and is ignoring emails from concerned
shareholders. Gary has been very good at trying to keep people informed but
it must be an uphill struggle for him to defend certain things that have
happened. I appreciate that the directors are acting in the interests of the
company, but the methodology has certainly made me rather anxious. I can
also appreciate that Angola is not an easy place to work in.
Is there any time frame at all for there being more news ?
I wish you well
Fiona *********

Does that sound like an email from someone who knew what was going on...?

NML may not have done any kimberlite drilling, but the company have made it quite clear that significant work was carried out by third parties towards the end of last year. They hoped to be given access to that data which gave "positive identification of diamondiferous pipes." Now there's only one way you can obtain such identification if the kimberlite is 30 metres down - and that is by drilling.

It would now appear that they have at least had sight of the drilling data. No company, no matter how badly managed, would simply dig up 180,000 cu metres of ground on the off-chance that a diamondiferous kimberlite lay beneath it. I suspect they know precisely what they are doing and why they are doing it.

"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."

Untrue. I cannot speak for Takahe, but the first time I was aware of overburden removal to a depth of 30 metres was when the new photographs were posted on the company website at the end of May, and included that information in the caption.

And on the subject of whether or not information is required to be released every time a company makes a decision, the new FSA and AIM disclosure rules make very interesting reading. Particularly with reference to the competitive aspect of the C9 kimberlites.

Me, too, Wendy....I knew they were removing overburden, obviously, (who doesn't) but not to that depth...I thought 5-10metres.

Hate to intrude, but it looks to me that they don't have access to the Kimberlite data, since appears to large area to be working on. If you knew where to look only a small area to be removed at any one time. You have to remember what happened last year to this company, the infamous John Teeling of PRE and PET fame was threatened with assasination in this country, invest in this company and you will lose money.

TheMaster..think you've got your facts a bit confused!! John Teeling has nothing to do with NML...

I must say, the derampers on here try very hard...

For your information the infamous John Teeling is a director of NML, check out this thread a year ago and you will find about this company in depth.

TheMaster,

You are referring to Shane Healy, who apparently was the subject of a death threat whilst visiting the UK last year.

It was all rather comical, and was not taken seriously. I attended the famous meeting where the police were present, and everyone was clearly at ease.

John Teeling has nothing whatsoever to do with NML!

Anom,

I honestly believe that takahe is not aware of any insider information re NML.

Andy...lol...Insider information...I should think NOT! I wish I did....
One of Gary's jobs is to deal with enquiries from shareholders..(poor chap) ..those that he is able and allowed to answer....

takahe,

Yes Gary's job can't be easy, and when he does know price sensitive information, he has to be careful how he answers queriees from shareholders.

LOL @ "TheMaster"

"TheMuppet" more like!

Actually, Gary has been a trader himself, so he is well aware of psi. I think he often doesn't know more than we do!!

TheMaster -

Have you ANY idea how big the kimberlite in question is? Some are as much as 100 hectares. An area 60 metres by 100 metres IS only a "small area" if this pipe is worth looking at at all. And then there are ramps and benching to consider in order to make the operation safe.

If they have not seen the data, how would they know where to remove overburden at all? Let alone in a clearly defined spot which is only the size of a football field.

But as someone who knows so much about NML that they think it's run by John Teeling, I guess I am wasting my time trying to tell you anything about this company.

The Master should change his name to the Novice.

I see that scumbag anomalous has started posting crap over here after getting hazed to hell on ADVFN. His rants are unsubstantiated and usually distortions of other posters opinions. Be very wary of him!!!!

Don't hold back, mininginvestor! Anom has been posting here for some time....
I am being accused of having insider information talking about removing overburden! As you are an expert in mining, please don't fall about laughing too much at this revelation that that is what you do to find diamonds!!!
(Fiona)

Dont care if he has been posting here a long time, he is still an asshole!

>Andy
From the posts that Mcllelan/takahe has made, including that email to Shane, it does appear that she has been kept mostly in the dark about the key points, especially the change in focus and the lack of any alluvial grades.

I'm sure she (and Wdurham) must understand that some of the emails (from the company) that have been discussed on the BBs (here and on ADVFN) suggest that they know more than the market in general has been told. We know from the data the company posted on the website that the company has been more than 'economical' with the truth. The overburden over the kimberlite must have been the focus of operations since February or January. But why the company chose not to share this with the shareholders AND more importantly to tell the shareholders that they would hear about the alluvial grades at the end of June, when it is obvious that they were not removing the alluvials from the proven resource areas (which the shareholders were led to believe was being operated upon), but the cake and loose material from the kimberlite instead, is highly perculiar.

The latest 'rumours' about a reverse JV sounds more like Teeling's old tricks on AFD. We all remember the '8-weeks' statement. Unlike TheMaster, I know that Teeling is not involved with NML. But I do agree with Gaybriefs, that this rumour stinks of being a ramp to push the share price up. You've seen the number of dumps today. Share sells outnumber share buys by 6 to 1. This is not stake building by some 'Mystery' Buyer, but the 'Mystery' seller(s) using every opportunity to offload even more shares.

Some morons, have suggested that the MMs are in fact keeping a level book on NML and not accumulating any. They suggest that I have the prices wrong and have counted buys as sells. If you believe that, then take a long hard look at today's share sells. The majority of the sells were at the lowest bid price. Some of them were rollovers, but the fact that they have rolled suggests that the buyers have not managed to make the offer price and are rolling on the hope that some improvement saves them. By far the most trades today were sells at bid. I doubt that the new placees would be taking a loss so close to acquiring their shares. But if one looks at the logic of the situation, with a dilution iminent IMO, then they would be stupid to hold onto shares that are about to suddenly drop in value, when they can sell at a loss of 3.5p and buy back at 3p with enough shares to cover their intervening loss. If they were to sit on the shares, they would be accepting an immediate loss of anything up to a 1p each. Selling and buying back in later makes far more sense.

I've looked at the data and believe that most (but not all) of the MMs are holding far more of the shares than they are comfortable with. They could indeed be holding quite a few millions each, even though this is not normal MM policy. The reason is that up until now, the shareholders have been continuing to top up, regardless of the broken promises. A few have now wisely decided to hold back and say "Thus far and no farther". They are witholding any more top-ups until the company proves themselves. It could be that the MMs didn't anticipate this reaction and have taken on shares for which they are unable to find buyers. A few well placed 'rumours' and they can offload their stock at a profit. But I'm curious as to why they chose to raise the offer today, given the trading pattern. One might think that they were raising the price to stimulate interest. So whether this price holds in the face of the 'Mystery' seller(s) determination to sell, we shall see.

I believe the main culprit for the rumour has to be the 'Mystery' seller(s). They have managed to work through most of the placing shares by now and are into their own personal holdings, or the trusts/nominee accounts they set up to deceive the regulators. They are all too aware of the dilutions and all too aware of what it may cost them to hold onto their shares. But the volumes have increased substantially and are not abating, so it appears that they have plenty to offload.

Some of you have suggested that I have blamed the Badenhorsts for being the 'Mystery' seller(s). This is wrong. I do believe that the B brothers have been selling shares. We know from the data that they have disposed or transferred of at least 1 million shares (from the RNS 22 April). The data of the 30 June does show that their individual holdings have increased a little. We know how many shares the B Brothers held individually and that they have not been issued with any more by the company. We also know that they held a joint holding, but not how this was held. Whether in trust or nominee. It is perfectly possible that the B brothers bought a small number of shares. It is also possible (and far more likely in my view) that the B brothers sold most of their joint trust shares and distributed the balance to their personal holdings. But as non-declarable individuals, that is their right. If they want to sell or buy, then that is their business. So long as they do not hold more than a declarable quantity.

Remember this point as well, options may sound good, but if they are only any good if they actually mean that the company intends to deliver on them in the time period they last. In the meantime, one might consider that they are a tool, to convince the shareholders of the good intentions, whilst the company busily get's on doing what it wants to do and not what it told the shareholders it was going to do. If the company fails to reach the share prices in the time period, then the only people disappointed will be the shareholders, not the option holders. They will be issued with more options in due course and are in the meantime drawing a salary, as cash or shares (that can be converted to cash on the market). So they can complain about mosquitos as must as they like. So long as they continue to be paid.

The celebrated Noel Coward once said, that "The Americans can sit there and Coca Cola bottles at me for all I care, so long I get paid!"