Namibian Resources Share Discussion Threads

[hatto] 28/3/2010 21:49

Good evening everyone.

Looking at Fridays Trades.....

ON ADVFN.......200,000 Buys v 43,907 sells
ON PLUS..........9,000 Buys v 0 Sells

TOTAL..........209,000 Buys v 43,907 Sells

=========

NBR until Friday only had 1 trade all week. So Friday was unusual.....anything leaked?

Certainly the RNS below gives us the possibility of news around now.

RNS Number : 3155H
Namibian Resources PLC
18 February 2010

For immediate release
18 February 2010

NAMIBIAN RESOURCES PLC ("the Company" or "Namibian")

Signing of option to acquire offshore diamond recovery ship and proposed capital raising to fund the purchase.


Namibian Resources Plc is pleased to announce, further to the announcement on 19 October 2009, that, through its 100% owned subsidiary Sonnberg Diamonds
(Namibia) (Pty) Ltd, it has entered into an exclusive three month option
agreement for a nominal sum with the owner, in Namibia, of an offshore diamond
recovery ship to purchase that ship. The option is solely at the Company's call and is inter alia subject to completion of due diligence and raising the
necessary finance. The purchase price is NAM$13m (GBP1.1 million). The ship,
which is in full working order and currently actively mining, will, on
completion of the acquisition, provide Sonnberg with immediate diamond
production. Based upon past records, the Directors estimate that the ship is
capable of a long-term average rate of production of over 1000 ct per month.

The ship is equipped with an integrated diamond mining and recovery system based around a 10 t per hour Dense Media System. Mining is by 250 mm (approximately 10") dredge pump, operated remotely (i.e. without diver guidance). The ship is fully self-contained and operates a three-week per month cruise schedule on the inner continental shelf mining at depths of between 20 and 40 m. Once acquired, it is proposed to upgrade the ship by fitting a real-time, sea-bed visualisation system which will result in more efficient mining and increased diamond production.

The ship has been operating for over five years on contract to the Namdeb
Diamond Corporation with whom Sonnberg has its existing onshore diamond mining
and prospecting contract. Namdeb are fully appraised of Sonnberg's intention to purchase the ship and negotiations to provide Sonnberg with a contract to
operate the ship are well advanced. The ship was subject to production
restrictions during 2009 because of the weak diamond market; however the owner
of the ship reported diamond sales of NAM$14.4m (GBP1.2 million) year ended 28
February 2009.

Sonnberg Diamonds will thus establish a marine diamond mining division to
complement its onshore operations and provide a diversity of diamond production.

A very experienced offshore diamond mining professional has been identified as
manager of Sonnberg's marine division.

At its Pomona onshore contract area, Sonnberg has resumed limited operations and taken on additional staff in early January It has been engaged in bringing the mining and processing equipment back to an operational level and mining is due to start this month although it is unlikely that any revenue will be earned in the year ending 28 February 2010. The pick-up in diamond prices in US dollar terms in the second half of 2009 has been offset by a strengthening during 2009 of the Namibian dollar against the US dollar such that a return to full mining operations at Pomona is not currently justified. However, while the diamond market recovers Sonnberg will focus on limited production from small, high-grade areas and carry out prospecting operations to better define resources for future mining. The Board remains confident that the Pomona contract area will support a viable diamond mining operation in the years to come.

In order to fund the purchase and upgrade of the ship and carry on operations at Pomona, Namibian is seeking to raise GBP2 million by means of a placement. When final terms of purchase are agreed, the Company will seek shareholder approval to increase the authorised capital. A further announcement will be made in due course.

Namibian's Board is excited by this development which they believe has the
potential to:

double the company's diamond producing capacity;

provide immediate, operationally profitable production despite the current
diamond market conditions;

diversify the sources of production, thus reducing risk; and

enhance the Company's long-term relationship with Namdeb.

[ravel morrison] 26/3/2010 18:01

lol...;-))

[waldof] 26/3/2010 17:17

Roll call in the village please.

[shadowchaser] 26/3/2010 16:47

Eeh by Gum ,Petunia, that nice man from table seven is in his little dingy....

Cooeeeee, Mr Namby ..

Look he's wavin' to us, wavin' to us.........

[shadowchaser] 26/3/2010 16:23

NBR- Too true ,if only this Old Duffers Sailing Club could actually get round to finding a few !

Lol!

-SC

[waldof] 26/3/2010 15:54

Interesting times ahead one gathers......and diamonds are about to develop a life of their own after so long in the wilderness.
One only has to read some of the recent statements offered by CEO's of diamond co's in their results.

[n1mgn] 26/3/2010 15:45

i dont know whether they have the money yet , but i know a few associates that have pledged funds not enough for the full amount though,

this is pure speculation , but in my opinion that option is worth a lot of money , and it would be cheaper for some to try and accumilate enough stock in the market , then aswell in the placing and take control , short term good for us , but long term ( considering the pain we have had , IF this is happening then they are getting one hell of a deal ,

imho , diamonds are the next big play ( hence i have pledged cash

chaps i assure u i am just putting 2 +2 together its what i would do if i had enough money .

[maxmol] 26/3/2010 15:36

I can't believe it ........ BLUE.

Have they taken up the option on the boat?

If so we should here soon.

[ravel morrison] 26/3/2010 15:33

Bloody hell life....Id forgotten i even owned these pups....;-))

[shadowchaser] 17/3/2010 11:09

NBR-IMO, In reality ,it's too pathetic to do either.

-SC

[maxmol] 16/3/2010 17:38

I would rather laugh than cry.

[shadowchaser] 16/3/2010 17:23

NBR --The old Duffers running this firm now want to go SAILING!

-SC

[shadowchaser] 16/3/2010 17:22

Oh Please ...Stop it , my sides are aching!

-SC

[maxmol] 16/3/2010 12:43

Four weeks gone of our 3 months option but still no word on the finance raising
for the purchase of the offshore diamond recovery ship.

[shadowchaser] 01/3/2010 11:53

You really couldn't make it up ,

Could you ?

-SC

[shadowchaser] 01/3/2010 11:51

LOL!

-SC

[maxmol] 01/3/2010 11:48

The diamonds on the sea floor are larger than they are getting on land.

[shadowchaser] 01/3/2010 10:56

NBR - This is seems an odd solution to this firms problems !

They get caught out with flooding on the land based mining operation so they opt for the purchase of a floating dredger to suck up the diamonds from the sea floor !

What a LAUGH!

-SC

[hatto] 18/2/2010 18:02

Mining News

Namibian Resources (NBR, 2.88p, ► (0.0%)) announced, further to the announcement on 19 October 2009, that, through its 100% owned subsidiary Sonnberg Diamonds Ltd, it has entered into an exclusive three month option agreement for to purchase an offshore diamond recovery ship. The option is solely at the Company's call and is inter alia subject to completion of due diligence and raising the necessary finance. The purchase price is NAM$13m (£1.1 million). The ship, which is in full working order and currently actively mining, will, on completion of the acquisition, provide Sonnberg with immediate diamond production. Based upon past records, the Directors estimate that the ship is capable of a long-term average rate of production of over 1000ct per month.

[ford play] 18/2/2010 10:09

Having read the RNS I see that they plan to raise £2million. As the company is currently capitalised at £1.19million, it looks like a two thirds dilution for existing shareholders.

[hatto] 18/2/2010 07:48

Good morning everyone.

Must say I'd rather forgotten about my holdings here,

There was a surprise 164,000 Buy @ 2.9p two days back......Inside info I reckon.

Hi Lord S......I'd say the RNS is quite/very positive as it shows that the BOD are confident NBR has a future & are not going to de-list as the share price has indicated for some time.

They are going to use the money from the placement to fund a ship that is earnings positive.

Also I'd think the placing should be at a higher level than todays share price

So I'd expect our share price to rise today.....but of course depends on the pump & dump brigade, whether they see this as worth while lol.

[lord santafe] 18/2/2010 07:35

Any takes on this RNS before the bell?

[maxmol] 17/2/2010 14:42

" When oh When,"is Tony going to give us an update on expanding this company,
4 months have bin and gone since our last update. Anybody like to guess when
we might here something?

[goz1986] 14/1/2010 14:43

I wonder if this is going to get snapped up by a cash shell, canisp for example. they both share the same broker as of two days ago and there is a thought that canisp is in the act of an acquisition. could be a very interesting time.......

[clarky5150] 21/12/2009 17:41

Just popped in to turn up the thermostat. Hope its not too chilly down south Hatto. Its bloody freezing up here.