Namibian Resources Share Discussion Threads

[21trader] 13/3/2015 11:53

the margins the mm's are making on this in minutes is incredible and this is just one stock.

Never sell on the shake

[tivoliworldgaming] 13/3/2015 11:52

All that has happened is a debt being repaid at 4.75p.
Now all them poor buyers at 2.75p have been locked in.

[sos100] 13/3/2015 10:37

crazy world!

[moreforus] 13/3/2015 10:32

4.75p issue now 1.45 to buy

[clarky5150] 05/9/2014 12:49

Oh dear. This one sinks ever deeper into the bottom drawer.

[clarky5150] 24/1/2014 12:27

Agreed. The company website has 3 inches of dust on it its so long since it was updated. anyone on the board have any contact with the board or should i say bored)?
Any update would be good at this point!

[meson] 17/1/2014 15:07

It is almost the 10th anniversary of this company in its present form. I know that it has suffered bad luck and a number of misfortunes but surely by now it should have made some progress - sadly it hasn't! At last in the summer it seemed as if it was about to come good having made what sounded to be a commercially sensible deal with a SA partner. All the fuss and then nothing...... have we to wait another ten years for the next move? Surely we have been patient enough..... even the spirits of the German prospectors of 100 years ago must be getting tired of waiting!

[tomboyb] 19/8/2013 23:31

One other thing. The current share price refuses to go down on sell after sell!

There are a few available online but mms seem to want to at least hold at these levels. Mind u dirs converted their loans at a minimum of 3.5p and 6.5p.

But it's the new dirs that could make the difference here

[tomboyb] 19/8/2013 23:26

Well mike Solomon has been brought in here to make a difference at a very reasonable price.

If he can raise almost 1bill in one of the toughest times ever seen I.e after 2008 then I,m sure he can bring a lot to the table here.

[meson] 19/8/2013 18:40

NBR accounts for 2012/13 should be out soon - let's hope there is some encouraging news about the joint venture.

[tomboyb] 24/5/2013 12:46

NBR reminds me a little bit of UEP - 1.25p to 13p. Assets to be injected here ( but little detail) are coal + copper - Solomon dealt with platinum in his previous carnation so clearly he must think as do current directors that this will be a good fit -

[tomboyb] 23/5/2013 19:56

Extract from Solomon interview -


MIKE SOLOMON: Well because there weren't any options. Immediately after Lehman Brothers and the global financial crisis there was a period of a hiatus where nobody really knew what was happening in the world. Project finance had dried up for mining companies, particularly early stage mining companies. People reluctant to go into growth stocks because cash was king in a recessionary environment and we had a choice of either taking the company forward and looking for where we could find money, which was China, or potentially try to sit it out and perhaps not surviving the hiatus. So we took a decision - we went to China, we sold the company in China and the rest is history. We brought in $887m - part of it in equity and the other in project finance and the project is now fully funded and construction is under way. So as a technical project it is a highly successful project.

[tomboyb] 23/5/2013 13:10

there is an overhang of stock - MMs currently offering 200k @ 4.05p but not much - downside looks limited with Solomon et al in @ 3.94p -

[tomboyb] 18/5/2013 13:28

Current Holdings in NBR - DIRECTORS hold 50% total equity with Solomon et al coming in @ 29.9% - 3.9p per share -





Shares
% issued enlarged issued share capital
Lord Sheppard
(including Didgemere Consultants Limited)


16,120,321
26.08
Brian Moritz

12,280,330
19.86
Tony Carlton

1,757,857
2.84
Oliver Plummer

606,407
0.98


30,764,915
49.76

[tomboyb] 13/5/2013 12:29

Not long to go for the asset swap for 29.9% NBR -

Very interesting development here - reminds me of one I bought 2 years back -

[tomboyb] 09/5/2013 17:54

Off - c ya!

ps - Gold one Int - Michael Solomon $615mill -

NBR is a piddler hence interest why he is here -

[tomboyb] 09/5/2013 16:52

Wesizwe secures R6.6bn Chinese funding
Allan Seccombe | Mon, 24 May 2010 09:41





[miningmx.com] -- WESIZWE Platinum has secured R6.6bn or $877m in funding from a Chinese consortium, including Jinchuan Group (JNMC) and China Africa Development Fund, which gives it a 51% stake in the platinum junior.


Looks like Solomon has no issues @ all with any funding - dealt with largest platinum prod in china!

[tomboyb] 09/5/2013 16:24

acq of mining assets @ 3.94p for 29.9% NBR -




Namibian inks management contract with SG
9 May 2013 | 15:18pm
StockMarketWire.com - Namibian Resources has signed a management contract with Southern Goshawk Resources (Pty).

SG directors Michael Solomon and David Johnson have joined Namibian Resources' board to manage the company's current and future mining assets in Africa while Oliver Plummer has stepped down from the board.

Namibian Resources intends to acquire SG's mining assets in South Africa in exchange for an issue of shares in the company as soon as South African regulatory approval is received.

Namibian Resources also said it had appointed Grant Thornton UK as its nominated adviser.

Namibian's chairman, Lord Sheppard of Didgemere, said: "We are delighted to welcome Michael Solomon and David Johnson to the board. Their wide experience in mining and finance in southern Africa is initially expected to give us the ability to accelerate decisions on our Sonnberg diamond mine, and lead, in the short term, to exciting prospects for expansion into the mining of other minerals.

"At the same time I would like to thank Oliver Plummer, who is retiring as a director, as well as Beaumont Cornish, our retiring Nomad, for their efforts on behalf of the company."

[tomboyb] 09/5/2013 16:10

China looking to expand in Namibia - This guy looks like the real deal - will research him further -

small overhang here but only 60mill shares and over 50% held by directors!

[tomboyb] 09/5/2013 15:31

Big hitter in NBR - Taken 29.9% in this tiddler -



Wesizwe secures R6.6bn Chinese funding

[tomboyb] 09/5/2013 15:18

tomboyb
9 May'13 - 15:11 - 255079 of 255079 0 0 edit


NBR - new guys take 29.9% @ 3.9p -



Michael was appointed Chief Executive Officer of Wesizwe Platinum Limited in 2004 and took the company from primary exploration through bankable feasibility study and listing on the Johannesburg Stock Exchange. During this period he was successful in raising approximately USD 1 billion to fund the project's capital construction and development.

[tomboyb] 09/5/2013 15:16

9 May 2013
Namibian Resources plc
('Namibian' or 'the Company')

Management Contract, Appointment of new Directors and Nominated Adviser

Namibian Resources plc, the AIM listed diamond producer in Southern Africa, announces new arrangements for the management of its existing assets in Namibia, which are intended to lead to an expansion into other mining activities in southern Africa, together with changes to its Board and Nominated Adviser.

Overview
· Management contract signed with Southern Goshawk Resources (Pty) Limited ("SG") under which SG will make available to the Company the services of Michael Solomon and David Johnson, currently directors of SG, to manage the Company's current and future mining assets in Africa
· Michael Solomon and David Johnson appointed directors of the Company
· Oliver Plummer leaves the Board
· Intention to acquire SG's mining assets in South Africa in exchange for an issue of shares in the Company as soon as South African regulatory approval is received
· Grant Thornton UK LLP appointed as Nominated Adviser

Namibian's Chairman, Lord Sheppard of Didgemere, commented, "We are delighted to welcome Michael Solomon and David Johnson to the Board. Their wide experience in mining and finance in Southern Africa is initially expected to give us the ability to accelerate decisions on our Sonnberg diamond mine, and lead, in the short term, to exciting prospects for expansion into the mining of other minerals. At the same time I would like to thank Oliver Plummer, who is retiring as a director, as well as Beaumont Cornish, our retiring Nomad, for their efforts on behalf of the Company"

Management agreement
SG is the natural resources arm of the J&J Group, a South African based investment holding and management company with investments in a select group of companies. Under an agreement dated 9 May 2013 SG will manage all the Company's mining assets in Southern Africa. Initially these assets comprise the Sonnberg diamond mine in Namibia, where SG will seek to finalise negotiations on a new contract with Namdeb, which holds the mining right, and evaluate the steps required to expand production at Sonnberg to a level where it will generate profits on a sustainable basis.

The management agreement also envisages that the Company will acquire from SG, a subsidiary of SG which holds all the existing mining and exploration rights of SG, initially in coal and copper. The consideration for this acquisition will be the issue of 29.9% of the share capital of the Company at the time of such acquisition, as enlarged by the capitalisation of outstanding loans to the Company by its existing directors. The share price for the purposes of this transaction has been agreed at 3.9412 pence per share, being the volume-weighted average price of the Company's ordinary shares for the 30 days ended 28 February 2013. The acquisition is intended to be completed as soon as permission is received from the South African regulatory authorities.

Under the terms of the management agreement, SG will be entitled to a success based incentive being 20% of the increase in value of such mineral assets, to be settled in shares in the Company. The success based incentive will be paid annually, with a clawback mechanism designed to ensure that the incentive amounts to 20% of the increase in the value of the mineral assets over the term of the agreement.

In addition, the Company will be responsible for paying SG's expenses in managing the Company's business, and any costs incurred in acquiring assets. It is intended that these costs and expenses be settled through the issue of shares in the Company.

New Directors
Michael Solomon and David Johnson are appointed as executive directors with effect from today.

Michael Solomon (aged 60) has 34 years professional experience as a practicing mining engineer within the mining industry in many commodities including gold, platinum, diamonds and base metals as a mining engineer and mine manager, and some 15 years in the consulting engineering environment as a Senior Mining Engineer with SRK Consulting and Principal Mining Engineer with EL Bateman and The Mineral Corporation. Michael was appointed Chief Executive Officer of Wesizwe Platinum Limited in 2004 and took the company from primary exploration through bankable feasibility study and listing on the Johannesburg Stock Exchange. During this period he was successful in raising approximately USD 1 billion to fund the project's capital construction and development. He is a Director of ASX-listed Gold One where he serves as Chairman of the Audit and Risk Committee as well as its Safety, Health and Environment Committee. Michael sits on the Council of the Southern African Institute of Mining and Metallurgy and is Chairman of the Institute's Mineral Economics Committee. He also sits on the World Economic Forum Global Agenda Council for Mining and Metals and the United Nations Economic Commission on Africa Expert Group on Beneficiation.

David Johnson (aged 50) has a banking and investing background having both project and corporate finance experience with HSBC, ABSA Bank, and Decorum Capital Partners, the managers of the New Africa Mining Fund. Currently he is responsible for all investment activities of the J&J Group, being its Chief Investment Officer.

Further information on the directors as required by Schedule 2 paragraph (g) of the AIM Rules for Companies is provided in the Appendix below.

In addition, Oliver Plummer, the Company's finance director, has today resigned from the Board to concentrate on his accountancy practice. External arrangements have been made for control of the Company's finances, which will be overseen by another director, Brian Moritz, who is a Chartered Accountant.

Nominated Adviser
Grant Thornton UK LLP has been appointed as the Company's Nominated Adviser with immediate effect.

[tomboyb] 06/2/2013 12:29

Directors own 50% here converted @ a minimum of 3.5p per share and @ 6.25p per share - B Moritz and Lord Sheppard - Looking for a transaction that should help its diamond opertaions -

[mistermagoo3] 06/2/2013 11:56

WTF cannot buy any online something is up

[judy21] 30/12/2011 17:07

They have found diamonds, buy not enough yet.