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

To: Douglas Freeman who wrote (36)	4/19/1999 6:45:00 PM
From: George J. Tromp	Read Replies (1) \| Respond to of 124

I havent run the numbers on Namco, actually I was expecting around 150,000 carts, the 200,000 carats is a bonus IMHO. DFR and Namco were the first to announce price increases on their diamonds, if you go back to the early mining, the US dollars per carats in the initial sale were North of 180US I believe, I could check however, so it may be a good leverage to increasing diamond prices. I estimate that the price may double from current prices if the second vessel comes on line conservatively. However that was based on 300,000 carat production. It looks now like they may turn 400,000 carats once the second vessel comes on line. I picked up coverage in early January so I am pleased. The company is difficult to reach however, it was strictly a buy on fundamentals, and has performed above my expections based on 150,000 carat production. I was hoping for the Alexkor deal to sweeten the pot, but that didnt happen. Asigning a PE of 20, I dont know, SUF is running around 10. But cash is cash, and they are 100% owners. Regards George