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 ??

What a waste of an afternoon, you guys!

sd

BTW - When is the end of the working day 31st October in Australia, London time?

Hi stockdog..you are correct. Waste of time...
Healy says they have to report by end of December. One assumes he knows the rules for Australia (being an Australian) as well as for here.
He seemed quite cheerful and claimed that his big shareholders are perfectly happy when I muttered that a lot of shareholders here were not. He said that I 'hadn't lost a cent' if I hadn't sold out and advised me strongly not to believe misleading information on Bulletin Boards!
Australia is about 8 hours ahead of us, depending which part you are in....

Shane Healy , from Australia, is an accountant and holds a Master of Accountancy degree, a Bachelor of Financial Administration degree and a Diploma in Practice Management from the University of New England and is professionally associated with the Australian Society of Certified Practicing Accountants, the Chartered Institute of Company Secretaries and the Australian Institute of Company Directors.

He joined the board of New Millennium Resources Limited in April 2004 prior to which he had extensive experience in public company environments holding the position of Director and Company Secretary of a number of ASX listed entities. Shane has also held senior management and consulting roles with medium to large corporat ions, including Japanese multi nationals.


You might think that it was not too much to ask that he might know more than most of us about what is required of him.

Thanks for the info takahe!

-Always appreciated.

takahe,

Then he's going to invoke the delay clause then?

Anom is correct, they have to report Monday, unless of course they issue a delay notice, which they are allowed to do under Australian Law.

That wouldn't inspire any confidence in the company whatsoever IMO.

takahe - 28 Oct 2005 21:08 - 1623 of 1624
Shane Healy , from Australia, is an accountant and holds a Master of Accountancy degree, a Bachelor of Financial Administration degree and a Diploma in Practice Management from the University of New England and is professionally associated with the Australian Society of Certified Practicing Accountants, the Chartered Institute of Company Secretaries and the Australian Institute of Company Directors.

He joined the board of New Millennium Resources Limited in April 2004 prior to which he had extensive experience in public company environments holding the position of Director and Company Secretary of a number of ASX listed entities. Shane has also held senior management and consulting roles with medium to large corporat ions, including Japanese multi nationals.


You might think that it was not too much to ask that he might know more than most of us about what is required of him.

Well it appears that he is either not aware of the companies reporting dates OR, he was deliberately misleading you. Either way, the fact that he mentioned a date in November or December as you reported, suggests that there is some deceit here. So unless you want to own up to misleading the BB, then it must be Healy that was wrong.

The facts are the facts. Wendy has verified that the reporting date to the shareholders is 31 October each year. If they fail to release the Finals on Monday, then on Tuesday morning, as per the AIM rules, NML will be suspended, for failing to report to the members by their reporting date.

It does not matter if they ask the Australian Government for an extension, the rules are quite clear and suspension is required - to protect the company and the shareholders.

However, if it does happen, when the share comes back to the market (on release of the finals), the company might have the opportunity to report news that could reverse the share price decline.

If the management are sucessful in their negotiations, then they will be able to report that despite the losses, the company does have a plan for its future, that does not involve sitting around waiting for Catoca and Endiama to OK the start of the alluvials again.

So in a sense, the suspension might actually save NML from a fate worse than receivership. Because lets make no bones about it, if the scandal breaks about how the price was driven down by a mystery seller(s) and the poor performance of the management, then I doubt that you would see any of your money back at all.

Andy - how would I know if is going to, or already has, invoked a delay clause.
I asked him a simple question. He answered me. He said the finals did not have to be reported until the 31st of December. Anom has got a damn nerve to accuse ME of misleading the board. I'm not the one using multiple personalities on ADVFN which he has been just caught out doing!!!
I am not in the wrong here. Either Healy is...or Anom and Wendy are.

Anom.."So unless you want to own up to misleading the BB, then it must be Healy that was wrong. "...how dare you. You have absolutely NO honour whatsoever. I am decent enough to ring up and find out from the FD.
I don't lie and invent stories like you. Nor do I use multiple aliases!!!!!
As said to this BB on Friday, another poster has advised the Company by email of your latest allegations. The situation is nothing to do with me. I merely reported what he said. Why should I say otherwise? You really have a terrible view of people, no doubt based on the way you behave yourself.

takahe - 29 Oct 2005 13:52 - 1627 of 1628
I am not in the wrong here. Either Healy is...or Anom and Wendy are.

Now you're accusing Wendy of misleading the BB! And I thought she was your friend!

If you treat your friends that badly, it's a wonder that you hold onto any of them.

Grow up Mclellan, you have accused Andy of always attacking you on the EPD boards, when he's done nothing of the sort, You've accused me of many things, when I've not been responsible for the drop in the share price. Now you are denying the truth when it's there in black and white on the Australian Government website.

It does not matter...
if Healy says that the accounts do not have to be in by 31st December - unless he is trying to deliberately mislead you. The facts state that the Accounts have to be in by 31 October or the company is in breach of their reporting date. If they have an extension, then this will mollify the Australian Government, but not the AIM.

The AIM rules state that a company which is in breach of their reporting deadline will be suspended. Here they are:

I have no quarrel with Wendy at all, as she knows very well. We have exchanged several emails about this today. I would certainly be more inclined to believe her than you. You and she seem to think one thing...Healy seems to think something different . In your mind that perhaps means I am attacking Wendy but that is nonsense. You are either trying to be deliberately difficult or you don't understand.
I am not denying what is written on an Australian web-site so don't exaggerate. It is a question of what is RELEVANT to this situation.There is presumably SOME explanation for the discrepancy...I wait to hear it...as usual...from an accurate source..in context.
Why do you think Healy would deliberately flaunt an applicable rule? There would be no sense to that at all...
I realise that you are very annoyed at the Finals not coming out yesterday...
My only part in this has been to contact him...I'm not rushing around reporting him to the LSE and the regulators etc....

Stop pulling each other's hair.

I just read in Shares Magazine that Endiama has pulled the rug out from under NML vis-a-vis their C9 concession in Angola. Anybody know any more?

Have you got the reference to that, Arf?
I was speaking to the FD yesterday and he certainly didn't mention it!
Catoca are going to do some kimberlite drilling on C9..and NML were asked to get out of the way to let the work go ahead with Catoca's specialist equipment.
NML have complied with the request of Endiama , in the hope of securing a joint venture that they are seeking.
The Company put out an RNS to that effect , on the 10th Oct, so perhaps Shares Magazine are referring to that...

Check out this link:

NML apparently filed a 2501 for extension on 19.10.05 with the ASIC to hold the AGM

http://www.search.asic.gov.au
and search company name for new millenium resources

explianed here:
http://www.asic.gov.au/asic/ASIC_PUB.NSF/byid/02CEF1E261AB05 A4CA257038000995C8?opendocument

I've spoken with the AIM and they are in two minds about the suspension.

As far as they are concerned at the moment, if the company HAS been granted an extension, even if this takes them past the reference date for publishing the accounts, the AIM would not suspend for the moment. It all depends on the extension. The extension has not been notified by RNS, so technically they are in breach in Australia, even though the AIM rules give them 6 months to report.

The AIM consider that if the report is required early (because of any law) then this causes the report to be published early as far as the AIM is concerned. However at the moment, the AIM's interpretation is that they would not act to suspend simply because they were in breach of Australian law.

They agree that the reference date is fixed at 30 June. They agree that the Australian law takes precedence. They agree that the publishing date is 31 October, for Australia (and consequently the world, according to AIM Rule 11), but they disagree that the report is late, even though it is being reported later than 12 months after the previous one.

After detailed consideration, the LSE is taking a middle ground on this one. They still think (like you) that the AIM does give the company 6 months to report, so even if they are late in Australia, this is not enough on its own to suspend the shares - UNTIL - the 6 month deadline is past. Six months would be up on 31 December 2005.

However, where they do agree (with me), is that the company should have notified any extension to their reporting period in Australia. This in itself is not enough for suspension. BUT, they did agree that the precarious financial and trading position would be grounds for suspension. If there is any financial reason why the company has had to delay the report past 31 October, other than the simple change to AIFRS (which should have been taken care of anyway), then the AIM will suspend the company to prevent any danger to the company, shareholders and creditors.

The AIM is working on this at the moment. They are making the necessary enquiries. There might be an RNS about the extension (if there is one) later today.

I spoke with the AASB last night and various accounting institutes in Australia. They agree that an extension could be granted, of up to 75 days, but they thought that it would be unlikely. I have the contact details for the appropriate people to check if it has been issued and will do so on Wednesday. Tomorrow is Melbourne Cup day and I doubt that many will be sober enough to answer any accounting questions!

So there it is. I am wrong in assuming that the reporting date alone would be enough to cause a suspension. It is a matter of concern for the Australian Government, but the AIM allows foreign firms to go over 12 months since their last Annual Report, so long as they do not go over the six month report that AIM sets. If they go over 4 months in Australia, they might be fined or punished in Australia, but not here. BUT, they do have to notify the shareholders if there is any reason why they have not reported when they should have.

It is a disgrace how desperate you are to try and make trouble for this company. I've spoken to a few people this morning, too!
NML applied for an extension for their AGM etc on the 19th October.....

New Millennium Resources Ltd
31 October 2005


New Millennium Resources Limited

Notice of Results / Accounting Date

New Millennium Resources Limited (the 'Company') announces that it has applied
for and received an extension under the Corporations Act to lodge its Accounts
with the Australian Securities and Investment Commission on 31 December 2005
when it will announce its results for the year ended 30 June 2005.

The Company has also applied to change its year-end to 31 December. This will be
effective from 1 January 2006.

please note..applied for and received!
They did say last year at the Shareholders' meeting that they would try to hold the AGM in London this year, so perhaps they are going for that option..
I'll buy you a share for Christmas, Anom and you can come along and heckle from the back, if it does come to London. As everyone knows Healy is based in London, now..

>Mc

Very nice of you to buy me a share, but you need to be more careful with your money. After all, if you make choices like NML, you need the cash more than I do.

If only you had sold last year, you could have bought back in by now with 5 times as many shares. Still, if you have any AFD, FDI or EPD you should be able to make back all your losses from this one.

Well Anom..if we had the benefit of hindsight, it would be a different world. I could also buy 4 times as many EPD as last year..but fortunately, I did sell most of my holding in them and even made a slight profit on one batch.
I hope you are going to have the grace to apologise to anyone who sold yesterday and the days before, on your rantings about shareholders only having hours to sell before a supposed suspension.
I will hold all my shares in NML, thanks. The project is sound, lots of different companies are trying to get licenses in Angola and to list on the LSE...so in my opinion, NML have a good chance of succeeding, once they are sorted out. If they can pull off what they set out to do...restart the alluvials..the equipment is all there and secure a JV for kimberlite work which is what they have stated by RNS that they are trying to do..then we will all be very happy..except perhaps you.
I do hope it was not you that fed all that crap to the Shares Magazine....

Sub 1p Game Over Goodnight!
Please turn the lights out on your way out....Thankyou and Goodbye!!