RNS Number:9162G
New Millennium Resources NL
30 December 2004
New Millennium Resources NL
29 December 2004
New Millennium Resources NL
('NML' or the 'Company')
Issue of Shares
New Millennium Resources NL (NML), the international diamond mining and
exploration company with projects in Angola and Greenland, today announces the
issue of 12,118,270 fully paid ordinary shares and 1,445,929 options exercisable
at 8p.
As a show of confidence in the company's strong future, the Badenhorst brothers
have converted the amount outstanding to them of US$630,000 to shares. NML
purchased the alluvial diamond mining equipment from the Badenhorst Combine for
US$1.26 million. Subsequent to this acquisition the Company engaged the owners
and operators of the Badenhorst Combine, Piet and Neels Badenhorst as mine
managers and operators.
The Badenhorst brothers are on the mine site in Angola managing mining on a day
to day basis. The issue to the Badenhorst is 8,253.000 at A$0.10 per shares (4p)
Additionally and as a demonstration of their confidence in the Company all
directors of NML have opted to convert their outstanding directors fees to
shares. An amount of A$386,857 accruing since November 2001 has been converted
at A$0.10 per share (4p) resulting in the issue of 3,865,270 ordinary shares.
Subsequent to the last private placement, in consideration for broking services,
NML announces the issue of an option to purchase 1,445,929 Fully Paid Ordinary
shares in the Company at A$0.20 per share (8p) up to and including 28th February
2006.
Contact:
New Millennium Resources NL
John M. Cross (Managing Director)
Tel: +61 414 375 758 Tel:
jcross@new-millennium.com.au
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