Namibian Resources Plc was incorporated in January 2001 and achieved a listing on the AIM of the London Stock Exchange in March 2004.

The Company, which operates through its 100% owned subsidiary Sonnberg Diamonds (Namibia)(Pty) Limited, holds a contract from NAMDEB Diamond Corporation (Pty) Ltd for the prospecting and mining of diamonds within the Pomona concession in the Luderitz District of Namibia. The concession area covers an area of about 120 square km (12,000 ha), and the Company is authorised by NAMDEB to prospect and mine in certain defined areas within this concession.

Namibian Resources aims to use the funds raised from the listing to increase annual production from the current level of 2,900 carats/year to 7,500 carats and then on to 15,000 carats/year.

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Very difficult to find information on this company as they do not even have a home page, friends of mine feel the annual production levels are greatly under estimated and we could see a huge up side to this company before Christmas 2004. The new equipment they are using looks promising.



http://www.mining-investor.com/

afternoon master, thanks for the info a second top up is looming for me if you can add more info to the above...

just caught up with the situation silly me, ignore the above and thanks

What do you think of the lead article in Newsweek dated 14th February that scientists can now make absolutely perfect diamonds? Surely when this sinks in the diamond companies will bomb.

Hi All
With regard to the previous post 80 and synthetic diamonds.
In a telephone conversation with Namibian, about November time, I raised this very issue,I was quickly assured that the perfect diamond is not what they want. they only desire the im-perfect billion year old stone and they will never be out-of-fashion, any and all diamonds coming out of the ground have a home waiting at DE BEERS. Evidently for now and always.
The explaination was a lot more detailed than that but i was convinced.

Their results should be out within six weeks, look promising.

Good Luck

Drop to 25p-30p before rise again.Buy loads when it gets there.

Scottie7
Should results have been out by now?

Yes.......Expect them any day. At least it was what I was told back in Novemeber "six weeks after financial year end (third week in February) FINALS will be published".

It would'nt surprise me if Monday is the Day, but optomistic for next weeks. Possible after the 5th April.

Alan

Alan,

Deafening silence from NBR does not help their cause IMHO.

I spoke to WCWB a couple of weeks ago, and a lady said that all the machinery "was now working ok after some initial problems" (which is to be expected IMHO) and that production had started.

It's disappointing, therefore, to have no official update.

anything happening with this share is it worth a little dabble? anyone with any comments/info please.`

This has been in a downtrend for the past 2 years but the price is within a couple of pence from its all time low and forming a double bottom.The interims showed they had moved into profit and now looks a good time to buy at 16 p.

hrf it was not a good time to buy but hindsight is a wonderfull thing.anyhow things may be changing. i did hold this share and lost 50% b4 i gave up on it & sold out but still not all trades are winners. Still like this share it was always a specuative buy & when a profit was announced it should have headed north for a while but as we know it wasnt to be. Might be time to buy back in?? for now waiting to see start of up trend. good luck to all who stuck with it

Not always easy to find the bottom but the directors still retain large holdings so this should get going one day.I believe the Chairman,Lord Shepperd,was a director of Grand Metropolitan.I doubt he would want to tarnish his reputation in the city.

Company has advised that production set to double, now that the floods have dried up. They have started mining again during November and the sp should go back up to 50p.

Looks like the directors buying one million at 10p on 2nd November marked the bottom for this.50p would be nice.

"I doubt he would want to tarnish his reputation in the city." and what reputation is that HF?

A good one,having been chairman of McBride and Grand Metropolitan Hotels,both of which did well.