Namibian Resources Share Discussion Threads

[eggbird] 14/12/2005 13:23

LONDON (AFX) - AIM-Listed Namibian Resources PLC said initial sampling at
its East Saltztal mine was "very encouraging", so the company is moving a second
screen to the area to begin mining by the end of January.
The company said it hopes two screens operating will generate enough
material to justify the purchase of a second 10 ton-per-hour/hr dense medium
separation plant by July and possibly move to a second shift.
Sufficient resources, have been identified to be mined for the next two to
three years, the company said.
At West Saltztal, Namibian Resources said production in the nine months to
November exceeded estimates, adding that output there should continue for
another 12 weeks.
It said output at West Saltztal was 4,577 carats with an average size of
0.60 carats per stone. Between 10 and 15 pct of stones have weighed over 1 carat
and six stones in excess of 2 carats have been mined, the largest being 2.60
carats.

[maxmol] 14/12/2005 10:19

rosco46. Read my posts 1825, 1827, 1833 and 1845.

[rosco46] 14/12/2005 08:21

May well be an opportunity here thoughts anyone

regards

[rosco46] 14/12/2005 08:14

West Saltztal production from the beginning of the financial year on 1st march
2005 to 25th November 2005 has totalled 4,577 carats with an average size of .60
carats per stone. Between 10% and 15% of stones have weighed in excess of 1
carat and six stones in excess of 2 carats have been mined, the largest being
2.60 carats. This production exceeds the original estimate of 4,200 carats for
this identified resource and should continue for another 12 weeks. The nature
of the mined material continues to give difficulty due to heavy water seepage
from the salt pan. The Company is trenching and sampling ahead to determine
whether the remaining 2km length of the West Saltztal is diamondiferous.



(2) Mining Plan

The first sampling of the East Saltztal although incomplete is very encouraging.
The company, is therefore moving a second screen to this area and commence
mining by the end of January. With two in field screens operating the Company
is hopeful that sufficient material will be available to justify the purchase of
a second 10 ton/hr Dense Medium Separation plant by July of 2006 and possibly
move to a second shift. Sufficient resources, have been identified to be mined
for the next two to three years. The Morro road-sweeper has been completely
refurbished and will be operating continuously from early January on the Idatal
bedrock sweeping where a thin veneer of diamondiferous gravel is present.
Bedrock sweeping this area which is 10 km long by 150 meters wide has been very
encouraging. The Idatal was mined down to bedrock in the early nineteen
hundreds and was fabulously rich.



(3) Management

Management at the mine in Namibia has been strengthened with the appointment of
two engineering staff to take charge of the screen, DMS and flowsort. They will
also carry out all maintenance servicing and repairs on site (other than major
repairs). This should substantially reduce servicing costs and increase
production from January 1st reducing delays caused by minor breakdowns.





(4) Website

Nambian Resources has commissioned a website. The first draft is complete and
the launch of the website anticipated in the next three weeks. An announcement
will be made as soon as it is up and running.



(5) Cash Resources

The company has no borrowing and cash balances are adequate for the foreseeable
future following the exercise of the warrants exercisable by 31st December 2005
at 10p. This is subject to change should our negotiations for additional
concessions reach a successful conclusion.





Most of the 5 million warrants for conversion into ordinary shares at a
conversion price of 10p have been exercised at 14th December 2005. The warrants
expire on 31st December 2005 and will have no value thereafter. There is
evidence that certain shareholders have sold sufficient ordinary shares to take
up their entitlement. This may be the reason that our share price has been
drifting downwards as no other reason is known.



Further Info:



Tony Carlton, Chief Executive



Namibian Resources Plc. Tel: [phone]






This information is provided by RNS
The company news service from the London Stock Exchange
END

MSCFFAFWESISEEE

[eggbird] 13/12/2005 12:46

Agree with you guys, I reckon this is due a fairly large bounce soon! Hopefully before Xmas!!!

Topped up a little earlier.

Rgds,

Eggbird

[hatto] 13/12/2005 08:44

Taken out a Spread bet position £500/1p @ 23p.

Ie bought 50.000 @ 23p.

Good luck to all holders.

[maxmol] 13/12/2005 00:03

Quarterly update should be this week, lets hope the results are over the average of 525 carats per month ( average over the last 8 months ), and an increase in the average stone size of 0.59 would be very good. Also confirmation of ordering the second 10 Ton per hour plant and additional in field screen would prove to us that this Company is exspanding and going forward. The icing on the cake would be news on the " further mining targets next to its current opperations in Namibia ".

[andy] 10/12/2005 18:14

fattie,

I've sold due to the lack of news, and Amex closing down Sharepeople, where I held the stock.

[fattie75] 10/12/2005 17:28

When is this stock going to turn to a profit ?? Keep seeing what a good number this should be - but price continues to slide ??

[maxmol] 09/12/2005 15:00

With the NEWS flow just about to start, update Dec. 05, web site to be set up, National Press statement, second D.M.S. about to be purchased ,RNS in 2006 about extra areas to be mined, I cant see these shares going any lower. DYOR.

[bartyboy] 09/12/2005 12:53

Sunshine

That depends on whether the people with the "Dosh" agree it's a good opportunity, or still want a lower entry point!

[sunshine57] 09/12/2005 12:35

Well in that case Barty, now is a good opportunity for those people who have the dosh to buy. As for me, I feel have enough of these and have held for some time. It would be nice to see some upward movement though as opposed to the recent downward one!

[jed tinsel] 08/12/2005 21:59

Evenin' Barty,

You have mail..............

[bartyboy] 08/12/2005 21:58

Sunshine

The MM's dropped the price on no volume, I imagine to try and generate some trading in the stock.

Seems they weren't successfull, so they could push down further!

[sunshine57] 08/12/2005 21:11

Anyone want to guess as to why NBR should drop so much today - Be interesting to see if there is an unwelcome announcement to come and somebody has whispered!

[scarlet149] 30/11/2005 10:24

Maxmol and Meson - thank you for your comments. I think we are all of the same opinion - in the long term the rewards will be there but, in the interim, we are at the mercy of the market before full year results and any other company information is made available. I'm with maxmol - I'll be looking the other way when it's red - and smiling when it's blue and heading north again.

[meson] 29/11/2005 19:57

IMHO the fundamentals of this company are sound and its potential is enormous. As with all ventures of this nature there are risks but I believe that Shepherd, Carlton and their team have the experience and business savvy to manage them.

As was made clear at the AGM, the company intends to resist the temptation to hype itself in the market at this early stage in its development. The plan is to let the numbers speak for themselves. These numbers will take a little time to come through but I am sure this is the right strategy if there is to be real and sustained growth in shareholder value. Patience will be rewarded, as Maxmol quite rightly says (by the way how fortunate we are to have the benefit of contributions from such a knowledgable observer of the company - please keep them coming!).

As far as today's share movement is concerned, it just goes to show the will-o'-the-wisp nature of the stock market that a few buyers and no sellers can result in a 7% fall in the share price!

[maxmol] 29/11/2005 17:29

I think you hit the nail on the head Scarlet, it's all about patience, and people don't have much left. I think the SWALF effect when this share was in its infancy has scared quite a few people off because they think this share can be easily manipulated.
But there is also a lot of belief in the prospects for this company, the AGM was extremely positive and the strategy and long term aims of the business are spot on. Unfortunately though the share is unlikely to move until we get full year results, information on the new plant or an update on new areas. It was after all rumours about new areas and the "black empowerment groups" that sparked off all the excitment in the first place.

IMHO this is a great share if you're in it for the long-run, but I think I'm going to look the other way and try not to notice any further southwards movement on the price.

[scarlet149] 29/11/2005 12:54

I have bought shares in this company on an ongoing basis over the past 12 - 18 months. As the price has dropped I have held as I think that, both short and long term, they are well worth hanging on to. My patience is being "tested" at the moment though. I see another drop in the share price today - does anyone out there have any idea why?? Any comments would be appreciated.

[cestnous] 27/11/2005 11:32

I hold, but a company that takes months to produce a webb site, when I have recently produced one for my own Co. in a couple of weeks, makes me wonder about the efficiency of management. I am a one man band. A quoted company should be able to do it in days.

Cheers

Nous

[maxmol] 26/11/2005 13:19

The mark down was because the last 8 trades over the last 8 days have all been sells. When the second 100 ton per hour plant has been purchased and installed (approx. end March 06) it should enable the production rate to be up to 1000 carats per month especially when the dryer material further down the valley is reached. The first quarterly figure for the period April/June 06 should be worth waiting for. If (as well as the increase in production) the on going talks with the Minister gives us extra areas to mine, I can see the share reaching 100p by Dec 06 and 200p by Dec 07. At this point, being an established diamond producer, I would expect us to be taken over. Please DYOR.

[maxmol] 25/11/2005 23:42

Website should be up and running by end of year, then some news in a national paper should give us some movement north.

[mjcferguson] 25/11/2005 23:27

Is there any sign of the website that this company promised?

[mgn1] 25/11/2005 18:35

maxmol

you seem to be pretty close to the guys at the top ,what your take on this .the share has now halved from the top.i have faith in this and patients but when are us shareholders going to see sometrhing to get these moving.with this mark down today i am slightly concerned.

thanks in advance

jon

[bartyboy] 25/11/2005 16:35

So a sell of 216 shares with a total value of £61 and the MM's mark the value of the company down 1.7%

I've seen it all now!