Namakwa Diamonds Share Price (NAD)

LONDON (Dow Jones)--Namakwa Diamonds Ltd. (NAD.LN), a diamond resource group focused on Southern Africa, said Wednesday the independent competent person's report on its mineral assets considers the fair value of its mineral assets to be $147 million with 25.8 million carats of indicated and inferred resources. MAIN FACTS: -The competent person's report does not consider the valuation of Namakwa's sales and trading operations. -Shares closed at 39 pence Tuesday. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; elliott.ball@dowjones.com (END) Dow Jones Newswires June 02, 2010 02:45 ET (06:45 GMT)

RNS Number : 4556M Namakwa Diamonds Limited 25 May 2010    25 May 2010 Namakwa Diamonds Limited (LSE: NAD) ("Namakwa" or "the Company")   Namakwa Secures USD15m Loan for Group Development   Namakwa Diamonds is pleased to announce that it has secured debt financing of US$15 million, at a competitive fixed interest rate of 8.5 per cent per annum, secured against certain assets of the Company's Southern African Group, from a private investor committed to the growth of Namakwa.   The loan, which has an initial term of 12 months and can be drawn down in three equal tranches at the option of the Company, will be used for general corporate purposes, including the development of Group assets in South Africa, Lesotho and the DRC. The Company has the option to extend the term of the loan by six months at an increased rate of interest.   Namakwa is currently in discussions to secure additional banking facilities that will optimise its use of working capital.  Discussions are ongoing with a number of South African banks in respect of a ZAR100 million working capital facility.   Additionally, the Company is exploring opportunities to enter into a medium term bank facility of around US$25 million to provide further capital for the development of current assets.   Commenting on the investment, Namakwa's Chief Executive Nico Kruger said:"By securing debt finance at a competitive market rate, we are leveraging off our balance sheet strength to unlock significant value from our near-term production projects at the earliest opportunity.  In turn, we believe that this will continue to drive accretive value for shareholders."   For further information please visit www.namakwadiamonds.co.za or contact:   Namakwa Diamonds Tavistock Communications Nico Kruger Simon Hudson Tel: +27 11 334 8886 James Midmer Ryan Barrow Tel: +44 20 7920 3150 Tel: +44 7974 453 954   Notes to Editors   About Namakwa Diamonds: Namakwa Diamonds is a diamond resource group with a portfolio of distinct diamond resource target areas within historically prospective geological environments in South Africa, the Democratic Republic of Congo, Lesotho and Namibia.    The Company has recently expanded its alluvial and marine resource base with the acquisition of its first kimberlite project in Lesotho. The project requires a relatively short development period for a kimberlite, which is consistent with Namakwa Diamond's development philosophy. Keith Whitelock, who brought the highly successful Letseng Diamond Mine back into production in 2004, after it had been closed in 1982, heads up the Kao project which is located within a radius of 20km from Letseng Mine.   With over 30 years experience in marketing diamonds, the Company has developed an international network of customers that are strategically well-positioned in specific segments of the diamond suppl

LONDON (Dow Jones)--Diamond resource company Namakwa Diamonds PLC (NAD.LN) Tuesday said it has secured $15 million of debt financing from a private investor committed to the company's growth. Namakwa said the financing has been secured at a competitive fixed interest rate of 8.5% a year, secured against certain assets of its Southern African group. The initial 12-month loan can be drawn down in three equal tranches and will be used for general corporate purposes, including the development of group assets in South Africa, Lesotho and Congo. Namakwa said it has the option of extending the term of the loan by six months at an increased rate of interest, which it didn't specify. The company is in talks about securing extra funds and said discussions are ongoing with a number of South African banks about a ZAR100 million ($12.8 million) working capital facility. Namakwa said it is also exploring opportunities to enter into a medium-term bank facility of around $25 million to provide further capital for the development of current assets. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; hannah.benjamin@dowjones.com (END) Dow Jones Newswires May 25, 2010 02:59 ET (06:59 GMT)

did lloyds own

Company bought £2mill at 35p this week. http://www.investegate.co.uk/Article.aspx?id=201003150704155600I

following interim management statement, so may well have been directors buying on friday.