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Ml103 A (Hottentot Bay Grant)
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Q3 Profit of Usd96,000 Announced
Namibian Minerals Corporation has Reported a NET Loss of Usd32.81 Million(33 Cents PER Share) on Revenues of Usd27.35 Million for the Period of Nine Months Ended September 30, 2002, Compared to a NET Loss of Usd26.02 Million(35 Cents PER Share) on Revenues of Usd10.40 Million for the Corresponding Period of 2001. Production for the First Nine Months was 205,700 Carats Compared to 52,600 Carats for the Same Period of 2001, Including 117,050 Carats in the Third Quarter Compared to 28,100 in 2001. the Production in the Third Quarter was 30% Greater Than the Combined Production in the Previous two Quarters and Constitutes the Best Quarterly Production Results To-Date.
Dec 02, 2002
Third Quarter Production Reached 117,050 Carats
Namibian Minerals Produced a Record 117,050 Carats During the Third Quarter. the Company Produced 88,636 Carats During the First Half and has Produced 205,700 Carats, Year-To-Date. Most of the Company's Production for the Quarter was Derived From Features 21 and 22 of Mining Lease Ml103a, Situated in the Hottentot BAY Grant, Namibia. Other Production was Recovered From Baker BAY(Ml36) . Both Mining Vessels, the MV Kovambo and YA Toivo, Equipped Respectively With Namco's Namssol and Nam2 Tractor Crawlers, Mined in These Areas During the Quarter. Namibian has Also Upgraded its Probable Reserve Estimate for Ml103a From 74,000 Carats to 210,000 Carats. of This Reserve, Approximately 133,720 Carats Have Been Recovered to Date. Namibian has Also Adjusted its Probable Mining Reserve From 404,000 Carats(AT a Grade of 0.33 Ct/Sq Meter) to 392,000 Carats(AT a Grade of 0.37 Ct/Sq Meter) .
Oct 07, 2002
2002 Second Quarter Results
Marine Diamond Miner, Namibian Minerals has Reported a Loss of Usd24.95 Million, on Revenues of Usd5.66 Million for the Quarter Ended 30 June, Compared With a NET Loss of Usd12.87 Million in 2001 on Revenues of Usd1.48 Million. Included in the Loss was a Goodwill Impairment Provision of Usd15.69 Million. Namibian Minerals Sold 35,461 Carats Compared With 9,120 Carats for the Same Period in 2001. During the Quarter the Company's Mining Production Vessels, the MV YA Toivo and MV Namibian GEM Produced 33,510 and 8,471 Carats Respectively and the MV Kovambo Produced 1,235 Carats. Also, the Repairs to the Namssol I Mining Tool Were Completed During the Quarter and the MV Kovambo, the Support Vessel for the Namssol Tool, Commenced Commissioning in June. Namibian Minerals Reported That Direct Production Costs Increased by 23% as a Result of Re-Commissioning the MV Kovambo and Increased Sampling Activity Aboard the MV Zacharias.
Aug 27, 2002
Hottentot BAY Concession Daily Production
Namibian Minerals has Announced a New Daily Production Record While Mining in its Hottentot BAY Grant Feature 22 OFF the Coast of Namibia. the Day's Production Comprises 54,240 Diamonds, at an Average Size of 0.30 Carat Recovered From an Area of 1,870 Square M, at an Average Grade of 8.78 Carats PER Square M. the New Production Result Eclipses the Former Single Vessel One-Day Record of 16,271 Carats, Which was SET by the Production Vessel, MV Kovambo, Equipped With the First Generation Namssol 1 Tractor Crawler, While Mining in the Luderitz BAY Grant Feature 19(Marshall Fork) in January 1999. the Company Plans to Increase Exploration Efforts in the Area.
Jul 26, 2002
New Exploration Program Started
New Exploration Program Started
Oct 02, 2000
8/24/2016 9:27:51 PM