Member Info for chablard

You have to laugh. All this excitement over 5p. Will it touch 5.2.? Will it be 5.3? Been here too long . Let's start shouting a waving when we hit double figures without the point!

Have to disagree entirely with your post. The market , as you call it, is a handful of shares being sold by bored pi's that inhabit aim over these last few years gambling on trying to make a quick buck. Large core of investors here with large holdings that are quiet willing to wait for production in 2016 and wait for a good return on those investments. I wouldn't think that there is one that believes the licence won't be forthcoming and confusing the matter by saying that so and so has been waiting years for their licence has no relevance to North's position. You have no idea why they have been waiting for so long as the criteria is very strict and they may well not have met all the necessary points (ie. Proving finance is in place to mine) one of the points pushed by the BOD during the phone in was that it was important to prove to the Ministry that they didn't just prove up and sell on. The BOD would have hoped, as we would, that the licence would be in place by now so that the 3rd Greenstone tranche would have been paid out, but announced holding back on expenses at present, apart from the underground "highway", to conserve funds. Hence no resource upgrades until Q4 2015. so , imo, a good investment if in for longer term. Probably a few bob to be made by traders on different announcements if that's your garden . Imo. Running out of funds. No Waiting years for licence. No Not being granted licence. No We didn't attract the types we now have on the BOD just for them to "dilute the company to nothing" imo

Conclusion from below "It's become a waiting game. Waiting for the BOD, waiting for the licence, waiting for commodity prices to improve, (which in turn are waiting for Global upturn), waiting for the sp to go north. I'll wait "

Try listening to the whole thing on the website. Thought James came across well and genuine, whereas thought Richards sounded as though he was annoyed that we had the nerve to question the BOD! All in all satisfied with responses and decision to update pi's on a regular basis now we know that the project is long term. As posted on advfn We now know that things have changed considerably since the injection of cash by Greenstone. The concept that Martin had for a quick one trick pony was not what Greenstone had in mind when they offered the 12 millions and it was obviously them that decided through their "contacts" to change the BOD to accomplish these ends. Cash is king atm and we took the cash. Quite rightly imo, but that meant different objectives and perhaps shall we say a more corporate a approach. Bring in the big guns. The 13 months from issue of licence told the story. So we have what we have. I suggest that the 15% reduction in spend has only been achieved by more or less stopping all but the most necessary work on site and spending the last 3 months re evaluating the ground works and way forward. Looks like the "drive" (tunnel) that was going so well was not going so well. Would like to hear more on this. The talk of bringing in a loading shovel makes me think what on earth were they using before? Pretty basic piece of equipment seen in every quarry in the country. But that's by the by. More tests on the ore to see, with the new more knowledge men aboard, what equipment to purchase once licence is obtained. Sounds sensible to me to optimise production. So time lines have changed drastically and if we don't get our licence til end of Q2 we will definitely not get into production before Q3 2016 by what has been announced. Application will have been on the Ministry's desk for 12 months by end of this month. Seems to have been a lot of emphasis during the dial up on proving to the Government that it wasn't the intention of the BOD to prove up, get the licence and sell on, but to mine and prove up their intentions in the region. As if they are using Namib to make a statement of intent. As I said previously, although not a fan of "dial up" as I like to look people in the eye, after listening to it for the first time after it was put on the net I came away with "sounds like they know what they are doing". James came across as someone, for the time being, I can trust to do things right, but he is just one amongst many and it's those on the BOD that hold the sway. So now the returns we were expecting back then when the EIA was approved and the sp was twice what it is today will if they materialise be some way off. Long term (if you've got long term lol), this is most likely one of the better "bets" on the lousy aim market and yesterday I did show my belief in the future of Namib by adding a few to my already top heavy investment here. It's become a waiting game. Waiting for the B

And I forgot to say the Chinese member of the board holds no shares and is just there since the bad old days. It was Martin that managed to oust the other Chinese board members as they had a strangle hold on the company as they outnumbered other members and everything was happening "Chinese time"., and he kept having to fly to Beijing for talks and the company was getting no where. Since they lost their majority things moved on at a pace. Now its just a matter of getting that pesky licence

The largest shareholder group are in fact pi's as Martin (as well as Mark and Brett) bought their shares with their own funds. No options. O the top of my head I believe Martin holds 90 million and bought up to .6p ish and i can't see him parting with any on the cheap after all his hard work turning the company around. So as Martin has now no left the company he is just the same as you and me , a pi. Giving pi's over 50% of the company GL

Yep 13 months your right. 13 months from when the licence is received which he expects in Q1 2015. So as I said Q1 2016.

Troajan. I think you'll find it's mining Q1 2016 as announced with the rns DFS. cheers GL

Alan. Not sure I understand your post mate. We've known ever since the announced finance 4 tranche deal with Greenstone that .7p was the second tranche; .9p the third and 1p the final investment.( Just annoying that the £ has fallen by 10 cents ). Starting to feel a bit of frustration after our Q4 raft of news is taking so long . But I guess they have another 6 weeks if they really want/need to stretch it out. Come on Martin. L

East of Sutherland. - Caithness; can't get any further ;-)) Looking good here (North River). Been here a long time and through some pretty dark days but This has to be the closest thing to a winner on aim that one can find. Great BOD and all falling in to place for mining h2 2015. Would like now to here news regarding production equipment quotes in and long wait time equipment ordered. (some taking 48 weeks !) GL

They surely are. Raft of news due before Xmas. Would like to see licence signed off by minister. Was hoping before elections this month, but looks like we may now get a delay until new gov established. Greenstone's involvement says it all really. Chose North from 300 juniors they looked at. O/T Sutherland are you living there in the far north? GL

in job description below ""Following the successful COMPLETION of the Feasibility Study, NRR is looking to recruit a Mining Manager for the Namib Mine to fulfill a key role in the restart of mining operations."" gla

Great research by the Flus over on iii. One more large step towards production me thinks :-)))) As posted by Rampair on adv 21 Oct'14 - 08:15 - 866 of 866 0 0 North River Resources Namibia (NRR) is a wholly owned subsidiary of an AIM listed multi commodity resource development company focused on Southern Africa and with an advanced portfolio of base metal prospects in Namibia. NRR own and operate the underground Namib Lead & Zinc Mine. The operation is located 30km from the coastal town of Swakopmund. Following the successful completion of the Feasibility Study, NRR is looking to recruit a Mining Manager for the Namib Mine to fulfill a key role in the restart of mining operations. The Mining Engineer will report to NRR's Country Manager.
The role will include all aspects of setting up the mine for a long term production rate of 250 ktpa. Duties will include but not be limited to the following • Establishment and enforcement of appropriate mine safety procedures and systems • Short and long term mine planning. • Installation of primary and secondary ventilation systems and ongoing 
ventilation modelling • Installation of mine dewatering system • Management of the site mining activities and other contractors • Design and installation of all mine services • Mine budgeting and scheduling • Ensuring full compliance with Namibian regulations • Regular reporting to management 
Minimum Requirements: • A minimum of 10 years experience in underground mining operations is required. • Exposure to hand held mining techniques; airleg development shrink stoping, airleg rising • Applicants must hold an appropriate qualification in Mining Engineering recognized by the Namibian Ministry of Mines and Energy. • Applicants holding a Namibian Blasting Certificate or equivalent will be highly regarded. • A remuneration package commensurate with experience and responsibility 
will be offered. • Experience with Surpac Mining software Applications with CV and supporting documents must be sent to: recruitment@northriverresources.com with the Position Title in the subject line.

Don't understand your question labrow . A price can't drop from a target, if it hasn't yet reached that target. The news that will move this along to that target is 1. DFS 2. mining licence 3. Greenstones next injection of cash. 4 News on production machinery ordered 5 Drill results as they continue to find "lodes". 6 More cash from Greenstone. 6 Mining and production starts. 7 Final tranch from Geenstone 8 Probably a dozen things I haven't mentioned or that we are not privy to. GLA

deram. So true mate. The pi's selling today cannot have a clue about the company and imo the future share price if they are willing to invest medium term. Too many jam today types about these days , but the true vale will come out over the next months as we get nearer to mining with licence and final finance news. Construction is ongoing as we speak and Martin is imo placing orders for long wait time items for the processor. Greenstone didn't put the 12 mil so far into this company without due diligence. And when it comes to mining Greenstone have vast experinced members in their ranks.. GLA

We may perhaps drop back imo over the coming weeks if there is no PR from Martin. I am currently holding 10.6 mil and still have room in this years ISA for more. Very confident that North will become a successful venture especially so after the arrival of Greenstone. They would have gone over the company with a fine tooth comb and decided to take 29% of North, not only from the Namib Mine point of view but to use North as a vehicle for the acquisition of other cash strapped juniors with potential. North River could well become a substantial mid tier company with a share price to match for those willing to run with it rather than chasing a quick 50 quid. dyor,imo etc GLA

If you read the funding agreement you will see it states that Greenstone has no intention of taking over North and will never hold more than 29% of North's shares, but rather use North as a vehicle to acquire other projects, many of which are going cheap atm. Suggest you go over to advfn and read yellow throats summary from that time - it will give you a heads up to the deal. And the Newlands have been invested in North for a long time, just increased their holding and the chinese have been diluted to 16% and now thankfully only have two on the BOD, thus making decision making so much faster with now that they are outnumbered. GLA

Where did you get the 1.5p from , Is it twice what you bought in at? This has a lot lot further than that to go with what they've found already without the results from infill drilling. With Greenstone backing the company and using their cash and North's position in Africa for acquisitions, combined with a great MD that holds 90 million shares in the company all paid for from his own pocket, and takes a stipend for a wage, Yes 1.5p will be history very soon imo

Yes but that statement has been changed by the latest rns " we currently anticipate the study to be completed in the coming months." So no longer sticking to the"two months". Coming months could be two,three, four months. Just hope the sp doesn't slide and slide as pi's become bored. Already one holder on iii saying they feel let down and intend to dump over ten mil. More to this than meets the eye imo GLA

So where do you get end of July from Runner? Can't see where any fixed time frame is mentioned by Martin. GLA