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Gold/Mining/Energy : Namibian Minerals Corporation -- Ignore unavailable to you. Want to Upgrade?

To: George J. Tromp who wrote (47)	6/14/1999 10:35:00 PM
From: Douglas Freeman	Read Replies (1) \| Respond to of 124

I found the news because I saw a string of 5k block sales come across & checked the wire. It looks like a good pickup to me, all part of growing. However, there will be a few shares issued & cash will be drained, & experience has taught me that's a recipe for a pullback, so I raised some cash. No big deal, just another opportunity to play the range. We should have another run-up come the next EPS release. Numbers should be real good. ID

To: George J. Tromp who wrote (47)	6/16/1999 7:58:00 AM
From: Chuca Marsh	Read Replies (1) \| Respond to of 124

George & all- The Globe ( & Mail ) just released a National Article in Canada today, at this mornings news search: Namibian Minerals Corp - Globe says Namibian acquires stake in Ocean Diamond Mining Namibian Minerals Corp NMR Shares issued 37,868,510 1999-06-15 close $5.25 Wednesday Jun 16 1999 The Globe and Mail reports in its Wednesday, June 16, edition that Namibian Minerals has acquired a 33.5-per-cent stake in Ocean Diamond Mining Holdings for $17-million (U.S.) in cash and shares from a group of unhappy shareholders. The Globe's Allan Robinson writes that Namibian Minerals assembled the stake to block a proposed merger of two South African companies, Ocean Diamond Mining and Trans Hex Group. The deal sets the stage for a possible merger of the two diamond producers and a future boost in production so that Namibian Minerals could soon become a major rival to the marine diamond producing arm of De Beers Consolidated Mines. Ocean Diamond's concessions border Namibian's concessions offshore Namibia. Namibian says it has better technology to extract diamonds from the gravel and sediments on the seabed. Namibian expects to produce 200,000 carats of diamonds during 1999 and Ocean Diamond is expected to produce 80,000 carats. Namibian estimates the combined production in 2000 could be 440,000 carats. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing) Chuckaroughcut