21st Jun 2006 11:30
Namibian Resources PLC21 June 2006 Namibian Resources Plc 21 June 2006 Quarterly Progress Report Production During the first quarter of the new financial year from 1st March to 31st May2006 a total of 1,596 carats were extracted from the East Saltztal. The averagestone size has increased to €67 carats and the grade has increased to 21•cpht(carats per hundred tons). Out of a total of 2,363 stones recovered 94 werebetween 1 and 2 carats, 5 were between 2 and 3 carats and 2 stones were between3 and 4 carats. A stone of 4€3 carats and a stone of 6€6 carats were alsorecovered. Revenue from these recoveries is well ahead of the first quarter of2005/2006. Equipment The Company have been given permission to work 24 hours a day following a numberof security improvements and the installation of flood lights. This will removethe requirement for an additional DMS plant until next year. The increase ofbottom mesh size in the Finlay screen to 2mm has greatly increased the screeningprocess. This with the completion of the additional screen will enable us tomove to a double shift system. Cash Flow The results so far from the East Saltztal have exceeded our expectationsparticularly in relation to the average size of stone. This has resulted inbetter than expected cash flow. Tony Carlton, Chief Executive Namibian Resources Plc. Tel: 020 8726 0900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NBR.L