Namibian Resources Share Discussion Threads

[hatto] 22/10/2009 21:39

RNS Number : 9070A
Namibian Resources PLC
19 October 2009

Namibian Resources Plc
Progress Report

Since the end of the financial year on 28 February 2009, the Company has
maintained its equipment and carried out geological studies to refine the
geological model of the Pomona area and its diamond deposits. Over the last
several months, the diamond market has stabilised and rough diamond prices have risen overall due to a shortage of high quality product in the size ranges produced by the Company. Throughout this difficult period, the Directors have continued to finance the Company with unsecured, interest-free loans.

The Directors are now pleased to announce the following actions.

(1) The Companys wholly owned subsidiary, Sonnberg Diamonds, is shortly to
re-commence production on a limited scale on identified resources.

(2) An additional profitable local producer has been identified and negotiations with a view to acquisition are continuing, subject to finance. Further information will be announced as soon as possible.

(3) Subject to finance, it is the Companys intention to purchase further
equipment for Sonnberg to increase previous production levels and to enable
simultaneous mining and sampling.

(4) Finance by a placing is being sought from Institutions and
sophisticated investors to fund increased production.

Shareholders will be informed of progress in due course.

========

Good evening everyone.

A pretty positive RNS I thought & one that brought about a 200,000 Buy @ 3p (Full Ask) yesterday.

This BB is so quiet, almost a waste of time having one.

[maxmol] 22/10/2009 19:55

Looking at Tony's latest RNS dated 19th Oct. it looks that, at last,
Tony is about to expand NBR. lets all hope that it's a good diamond
producer area that he has got his eyes on.
We all need some good news, lets hope that this company is about to
move forward. Don't forget that the Directors are still confidant
as they are still supporting NBR with finance.

[meson] 12/10/2009 12:22

I was the only shareholder there apart from the board. Nothing of substance was said as the board is very conscious that this has has to be done by RNS. However they did confirm there is still no production but with the pick-up in the diamond price that the situation is under regular review. In answer to my question whether the board could see 'light at the end of the tunnel', the response was to remind me that directors continue to provide unsecured interest free loans out of their own pockets. The meeting lasted only about 20 minutes.

[maxmol] 07/10/2009 13:29

Did anyone go to the A.G.M?
If so, could you give us a
quick update please.

[maxmol] 28/9/2009 09:52

The second!!!!!

[fairdeal2008] 26/9/2009 14:26

Is that two thirds or 6 to 9 months....

[maxmol] 25/9/2009 10:07

May be 6/9 months.

[hatto] 24/9/2009 18:57

Time scale of "paience" ?

[maxmol] 24/9/2009 10:55

Just be Patience,I can't tell you any more, sorry.

[hatto] 23/9/2009 20:25

Dissapointing answer !!!!!!!

[maxmol] 23/9/2009 15:55

Good question!!!!!!!

[hatto] 23/9/2009 13:11

Hi maxmol have you spoken to him?

[maxmol] 23/9/2009 11:22

At long, long, last things may be beginning to
stir in the background of this company.
I think that Tony may be able to pull a rabbit
out of top hat, soon!!!!!!!

[fairdeal2008] 13/9/2009 13:40

well good to see the movement up starting on friday.....

cant help but feel it wont take much to get it going

[bluesbeater] 13/9/2009 13:00

Been in since day 1 also, averaged up in the heydays when it looked to go from 50p to a pound. Tucked away for retirement, still think it will come good but cant quite bring myself to average down any further. May regret it in time to come but dont think there will be any sustainable improvement in the short term

[fairdeal2008] 10/9/2009 19:08

Excuse me sir/madam - 'ramping', 'rrrrammmping'.... I don't think so - careful analysis enthusiastically presented, and turning something of a profit so far.... hmmm :-)

NBR I have a smallish stake and quite like the recovery potential. Directors have lumped in some money unsecured and interest free so happy there too. And the project and namdem relationship seems strong...

So - worth a punt, it will either lose the lot or make me a mint in 2.3 trading days ...... when it moves from potentially undervalued to silly overvalued....

imho

[shadowchaser] 10/9/2009 16:40

NBR,--Maxmol, glad to hear you are still hanging in there......
Me too ,in from the start and still a believer but, quite frankly ,without an injection of finance or a dramatic rise in the demand for diamonds this is not going anywhere at present ..IMO

Even Fairdeal will have his job cut out ramping this moribund stock price!

Lol!

-SC

[fairdeal2008] 10/9/2009 08:22

Presumably to go with the higher yielding ground...?

Wonder when the will press the button on production - would have thought that could have a material impact on the price... Entire company capped at just £800k at the moment...

imho

[maxmol] 09/9/2009 22:24

They are still sampling certain areas before they start production again.

[fairdeal2008] 09/9/2009 14:51

Any useful information that would suggest they are getting on with things??

[maxmol] 09/9/2009 14:40

I have been to all of the A.G.M.'s, last spoke to "management" last week.

[fairdeal2008] 09/9/2009 11:01

Since the 20p days... not very nice decline.

When was the last time you spoke to management Maxmol

[maxmol] 09/9/2009 10:29

I have been holding since day one. We have had lots of promises and disappointments in the past. They need to get other areas to mine and maybe a change of leadership would help. Tony needs to do something very radical in the very near future or we may loose the company. Come on Tony at least let us know your plans, if you have any, for our way ahead.

[fairdeal2008] 09/9/2009 08:07

ooh err - all quiet on the nbr front.....

anyone still holding from earlier??

[fairdeal2008] 08/9/2009 10:41

Can't deny though would be great to see it come alive again....