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Gold/Mining/Energy : Nora NXI on ME -- Ignore unavailable to you. Want to Upgrade?

To: Dogger Bal4 who wrote (188)	5/6/1998 12:21:00 PM
From: John Stella	Respond to of 420

Thanks for your post. Not to discount in any way namco's operations, one must however take a look at the major players in the area. Listed below you will find the companies involved in DEEP-WATER MINING in Namibia, the size of their concessions and the probable resources (using the BZW Gold Revue valuation method). Namdeb/DeBeers Marine, 25000 sq. km., 93.8 Million carats. NAMGEM/NORA, 23000 sq. km., 86.2 million carats. Ocean Diamond Marine, 6074 sq. km., 22.5 million carats. Namco, 1900 sq. km., 7.1 million carats. Diamond Fields Int., 660 sq. km., 2.4 million carats. Taking these figures into consideration one must add the enormous potential of Nora's other major holding in the area, it's contractual ON-SHORE SHALLOW WATER concession, OTJUA. Located in an area known as Diamond Area No.1 which has been called the world's largest and richest gem deposit, OTJUA stretches 140 km. along the Namibian coastline and extends 5 km into the ocean. The inferred resource on the land portion only (which represents 17% of the total concession area) has been estimated at 3.0 - 3.5 million carats. Feel free to contact us at 1-888-666-3431 and/or visit our web site at www.nora.com Regards, John