Namibian Resources Share Discussion Threads

[maxmol] 06/11/2007 11:49

We are once again at long last back in the
top 10 in the top percentage gainers list,
at number 10. With only another small tick up
we could make the top 5.

[the mullah] 06/11/2007 11:42

Looks like you should add sooner rather than later.

[maxmol] 06/11/2007 11:36

The message that DIRECTORS have added £100k to NBR seems to
be getting through.
The vast majority of these shares are very tightly held, it will
not take much buying to move this share up.

[shadowchaser] 06/11/2007 10:19

NBR----I'm still holding faith in this venture as I have been from the begining with early [profitable]conversion of warrants to shares .Unfortunately we 've been hampered by on-site flooding problems

[In of all places,Namibia,for God's sake!]

This latest move issuing shares virtually at par to the directors is desireable and refreshing at the same time --It shows they have faith in the future profitability of the co. and secondly does not dilute the existing share holdings .

As soon as possible I'll be ADDING !

-SC

[ncp3] 05/11/2007 15:13

Good to see increased volume, but shame no blue tick-up!

Hopefully, this WILL be the turning point now that NBR are back in production!

[the mullah] 02/11/2007 16:41

Can I have some as well, please.

[maxmol] 02/11/2007 14:47

This is looking a lot better now.

They have now stopped sampling and are now in full production.

First three weeks of October, have resulted in a total of 417 carats.

Directors adding 1 million shares at a cost of £100,000.

[the mullah] 01/11/2007 12:39

10,000 buy at 10.88p this morning.

[the mullah] 01/11/2007 08:56

Maybe with a 0.25p blue tick...

[bluesbeater] 24/10/2007 12:52

could this be the bottom? Would be nice to see some director buying to inspire a bit of confidence

[bluesbeater] 24/10/2007 08:02

Namibian Resources PLC
24 October 2007

NAMIBIAN RESOURCES PLC

INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2007


Namibian Resources PLC ('the Company') is pleased to announce its interim
results for the six months ending 31 August 2007.



CHAIRMANS STATEMENT



I am very pleased to announce the unaudited interim results for the six months
ending on the 31st August 2007.



Our progress report of 27th September fully reported the sampling and mining
result to 31st August. I am pleased to report that mining has recommenced and
production for the first three weeks of October has resulted in a total of 417
carats. This consisted of 888 stones at an average size of .47 carats per
stone.





Lord Sheppard

Chairman



Enquiries



Tony Carlton - Chief Executive - Tel: [phone]
Oliver Plummer - Finance Director - Tel: [phone]


Adrian Hadden - Collins Stewart Europe Limited - Tel [phone]


FOR 6 MONTHS ENDED 31 AUGUST 2007

Consolidated income statement


Note 6 months 6 months Year ended
ended ended
31-Aug-07 31-Aug-06 28-Feb-07
(Unaudited) (Unaudited) (Audited)
£ £ £
Revenue 77,785 396,353 504,542
Cost of sales (29,976) (145,133) (202,565)

Gross profit 47,809 251,220 301,977
Administrative expenses (162,463) (143,826) (310,463)

Operating (loss)/profit (114,654) 107,394 (8,486)

Interest received 6,933 8,035 34,554

(Loss)/profit for the period (107,721) 115,429 26,068

Earnings per share (pence) 3
Basic (0.30) 0.30 0.07
Diluted (0.26) 0.26 0.06




Consolidated balance sheet




Note As at 31 As at 31 As at 28
August 2007 August 2006 February 2007
(Unaudited) (Unaudited) (Audited) GBP
GBP GBP
£ £ £
Non - current assets

Property, plant and equipment 1,136,562 1,553,297 1,172,047
Intangible assets - mining rights 826,737 655,589 652,878
1,963,299 2,208,886 1,824,925
Current assets

Inventories 35,948 27,007 35,948

Trade and other receivables 17,370 139,094 23,518

Cash and cash equivalents 133,735 468,660 372,188

Current liabilities 187,053 634,761 431,654

Trade and other payables (39,341) (34,235) (37,847)

Net current assets 147,712 600,526 393,807

Total assets less current liabilities 2,111,011 2,809,412 2,218,732

Equity 4

Called up share capital 3,792,246 3,792,246 3,792,246

Share premium 359,384 359,384 359,384
Retained earnings (2,040,619) (1,342,218) (1,932,898)

Total equity 2,111,011 2,809,412 2,218,732



Consolidated cash flow statement 6 Months 6 Months Year Ended
Ended Ended 28
31 August 31 August February
2007 2006 2007
(Unaudited) (Unaudited) (Audited)
£ £ £
Cash flows from operating activities

Operating (loss)/profit (114,654) 107,394 (8,486)
Depreciation of plant and equipment and 78,989 78,353 119,925
intangible assets

(Increase)/Decrease in receivables 6, 148 (107,719) 7,857

(Decrease)/Increase in payables 1,494 (40,428) (36,816)

Decrease/(Increase) in inventories - 7,637 (1,304)

Net effect of foreign exchange differences - (47,505) (20,184)

Net cash (outflow)/inflow from operating (28,023) (2,268) 60,992
activities

Cash flows from investing activities
Interest received 6,933 8,035 34,554
Payments to acquire tangible fixed assets (30,268) (25,862) (137,531)
Payments to acquire intangible fixed assets (187,095) - (74,582)

Net cash outflow from investing activities (210,430) (17,827) (177,559)

Net decrease in cash and cash equivalents (238,453) (20,095) (116,567)
Cash and cash equivalents at the beginning of the period 372,188 488,755 488,755

Cash and cash equivalents at the end of the period 133,735 468,660 372,188



Notes to the accounts



1 Basis of preparation



The group has historically prepared its audited annual accounts and unaudited
interim results in accordance with UK generally accepted accounting practice (UK
GAAP).Following new accounting standards the group is now required to present
its annual report and accounts in accordance with International Accounting and
Financial Reporting Standards (IFRS).



The IFRS information in this report for the six months ended 31 August 2007 is a
restatement of information extracted from the statutory financial statements
prepared under UK GAAP on a historical cost basis. Those statutory accounts
were filed with the Registrar of Companies. The auditors report on those
accounts was unqualified and did not contain a statement under section 237 (2)
or section 237 (3) of the Companies Act 1985.The restated IFRS information
provided for the year ended 28 February 2007 does not constitute statutory
accounts within the meaning of Section 240 of the Companies Act 1985.



However these are anticipated to form the comparative period in the statutory
accounts for the year ending 28 February 2008, the Group's first report to be
prepared in accordance with IFRS.



The unaudited interim results for the six months ended 31 August 2006 and 31
August 2007 have been prepared by the Group in accordance with IFRS and
accounting policies that will be applied when the Group prepares its first IFRS
financial statements for the year ending 28 February 2008.The financial
information for the six months ended 31 August 2007 does not constitute
statutory accounts as defined by Section 240 of the Companies Act 1985.



2. Dividends



No interim dividend is being paid or proposed.



3. Earnings per share



Earnings per share have been calculated on the weighted average number of shares
as follows:


Number


Ordinary shares in issue 37,922,460
Ordinary shares in issue diluted 41,672,460




4. Consolidated statement of changes in equity


Share Share Retained Total
capital premium earnings equity
£ £ £ £
Balance at 1 March 2007 3,792,246 359,384 (1,932,898) 2,218,732
Loss for the period - - (107,721) (107,721)

Balance at 31 August 2007 3,792,246 359,384 (2,040,619) 2,111,011

[maxmol] 23/10/2007 11:27

Just to confirm a few facts as regards Namibian Resources.

1. Directors salaries.

A.C.A. Carlton ( Man. Dir. ) 30k/year.
O. Plummer ( Fin. Dir. ) 25k/year.

The other Directors are not paid.

These may be the lowest paid Directors salaries within the AIM market.

2. There is no company car.

3. They are using Dr. Donald Sutherland as a consultant geologist.
He is considered, by some, to be the worlds No. 1 alluvial diamond
geologist.

4. They have now stopped sampling and are in full production,the Quarterly
Reports for Dec.07/Mar.08 should make much better reading.

Hope the above helps.

[the mullah] 22/10/2007 10:32

They can improve by getting an experienced diamond geologist on board instead of 4 accounting types with no technical exprience.

[mgn1] 15/10/2007 15:27

chaps
if someone is going to speculate about salaries and cars please get the facts correct.there is no company car and as for salaries they are miminal if at all.brain moritz and lord shepard difenatly do not get paid.and i am confident tony carlton dosent take a salary but will be honest not 100%.
as for the performance of this stock i cant disagree with anyone we are all disapionted but at the agm as( i was there) was very proactive and i am confident that the board took on board some very important pionts and are in the process of sorting them.

[2jonno] 13/10/2007 09:21

seatrader-did I miss something in the company accounts,can`t seem to find any record of a huge salary for either Tony or the Chairman,or any mention of a company Benz.
prehaps you could clarify where you get your information from as this should be of interest to all

[scarlet149] 12/10/2007 17:38

agree 100% seatrader,there is no hope here im afraid and anyone waiting for the PR surge dont hold your breath!

[ncp3] 04/10/2007 10:02

maxmol - thanks for the report.

Very surprised that Tony wasn't in attendance!

Lets hope that the PR does come through!

[maxmol] 03/10/2007 23:56

NAMIBIAN RESOURCES PLC


Notes from Annual General Meeting held 3rd October 2007.

After attending the AGM in London today, I am able to give you the following update:

Tony Carlton was unable to attend due to a prior engagement – apologies given.

Tony Carlton and Brian Moritz were both re-elected as directors.

Resolution 1 (ordinary business) and Resolution 2 (Special Business) were both passed.

To reappoint the retiring auditors was also passed.



The main discussions from the floor were as follows:

1) Now that 'sampling has been completed' it was requested that production be increased as soon as possible.

2) That a PR firm be hired by the company to spread the word about how good Namibian Resources is and to open NBR up to a much wider audience.

Lord Sheppard (Chairman) and the other directors indicated that production will be able to be increase over the next 6 months due to the fact that no more sampling will be required over that period of time. This information means that Quarterly Reports to be announced in December 07 and March 08 should make much better reading – with an increase in the number of diamonds being mined and reported to the Stock Exchange.

Lord Sheppard stated that the PR subject had been raised at a previous board meeting and all indications were that a PR firm would be hired by Namibian Resources – let's all hope that it's sooner rather than later !! As a company we have been trading for 3½ years and as yet we still haven't been able to get the message across about how good a company Namibian Resources is and the number of diamonds that are still in the ground waiting to be mined. We hope the Directors keep their word regarding the PR and get this company moving forward – soon!!

If the PR doesn't happen and the company isn't driven forward we may find ourselves looking at a share price of 8p in 12 months time and asking next years AGM why a PR company wasn't appointed ???.....I wonder what their reply will be then.....Directors please take note - our patience is running out !!!!!!!!!!!!!

[bluesbeater] 03/10/2007 14:38

a report from any who attended the agm would be very much appreciated,
thanks

[scarlet149] 03/10/2007 12:12

Can anyone shed any positive light on this company as i am struggling to see any light at the end of this very dark tunnel???

[bluesbeater] 03/10/2007 07:42

no word on a change of pr though!

[gregord] 03/10/2007 07:19

RNS Number:0204F Namibian Resources PLC 03 October 2007



Namibian Resources Plc - 2nd Quarter Progress Report
Namibian Resources Plc


Progress report for 2nd Quarter period from 1st June 2007 to 31st August 2007.

During the Quarter activities have been primarily focussed on sampling of various deposits and exploration work to enable production to be planned for future periods. In addition, mining was divided between completion of mining of the Hannahtal deposit, bedrock sweeping of Hannahtal and northern West Salztal, and reprocessing of tailings. The total production of diamonds from all sources was 454 ct at an average diamond size of 0.53 ct/st, compared to 519 ct at an average 0.59 ct/st. While the average diamond size is considered to be satisfactory, the total production reflects the emphasis on sampling and exploration, and the directors intend production levels to be substantially higher in future.

Mining

The small Hannahtal deposit was initially prospected in late April and early May 2007 and mining which started in April was completed during the quarter. Total production from this deposit (including in the previous quarter) was 548 ct at an attractive average diamond size of 0.69 ct/st. The mined area is now being rehabilitated.

During the quarter a small amount of production was derived from bedrock sweeping at the northern end of Salztal West. Mining has now ceased in this part of the valley which is distinct from the main deposit along the floor of the West Salztal valley where it is hoped to resume operations in the present quarter.

After the quarter end, mining started on the Salzpfanne deposit which is discussed below.

Sampling

Sampling has continued to be focussed on the wind-eroded basins in the SW of the Pomona area. Although individual deposits in this part of the mining contract area are small they are notable for their large average diamond sizes. The following separate deposits have been sampled during the quarter.

Salzpfanne. As reported for the previous quarter, it was envisaged that the DMS may be re-positioned to this location as a more central site for future operations. A sample trench was excavated to determine whether the proposed site for the DMS was negative for diamonds. In fact the trench was strongly positive across much of the width of the valley, as was a follow-up trench some 100 m to the north. On the basis of the sample results to date a preliminary non-Reporting Code resource estimate for this deposit is 4,600 ct at an average diamond size of 0.42 ct/st. Prior to re-locating the DMS it is necessary to work out this area and, as noted above, mining has been started adjacent to the first sample line.

Mariannental. Sampling has been completed in this small basin to the NW of Salzpfanne. Three trenches were excavated across the deposit and a diamond concentration with a reasonable prospect of eventual economic extraction was outlined in the central and eastern part of the lower northern valley slope where the deposits average 40 cm in thickness. An indicated diamond resource of 300 ct is estimated at an average diamond size of 0.51 ct/st.

Hannahtal North. This basin lies to the north of Hannahtal and to the west of northern Annatal. Three sample lines have been completed and all have produced diamonds. More sample lines are required prior to estimation of the diamond resource but the average size of the diamonds recovered to date (0.65 ct/st) is attractive.

Current activities

Current activities are focussed on the mining of the Salzpfanne deposit. Not only will this result in a significant increase in production for the present quarter relative to the one just passed but it is also important for the longer term plan for re-location of the major items of processing equipment.

The West Salztal deposit remains to be worked out. Operations had to be suspended there because of excess water and flooding of the mining area. Pumping has reduced the water level and it is anticipated that additional production should be derived from this deposit in the present quarter.

Interim Results

Our interim results for the six months ended 31 August 2007 will be announced by the end of October.

A C A Carlton Chief Executive Officer.

The technical information presented in this report has been reviewed by Dr Donald G Sutherland of Placer Analysis Ltd, technical consultants to Sonnberg Diamonds (Pty) Ltd. Dr Sutherland is a Qualified Person for the purposes of the AIM Guidance Note on Mining Oil and Gas companies dated March 2006. Dr Sutherland has BSc and PhD degrees from Edinburgh University and is a Member of the Institute of Materials, Minerals and Mining. He has over 30 years experience in diamond exploration and mining. References in the report to diamond resources have been made following "The Reporting Code" for reporting of Mineral Exploration Results, Mineral Resources and Mineral Reserves prepared by the Institution of Mining and Metallurgy (now the institute of Materials, Minerals and Mining) Working group on resources and Reserves in Conjunction with the European Federation of Geologists and the institute of Geologists of Ireland.

For further information, please contact:

Namibian Resources
Tony Carlton [phone]


Collins Stewart Europe Limited
Adrian Hadden [phone]
This information is provided by RNS
The company news service from the London Stock Exchange



END



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