Third quarter results: Namibia project progress
The company reported a nine-month loss of $2,573,000 as its Namibia seabed mining project advanced toward third-quarter 1997 commissioning.
Nasdaq listing
The company's application to list its shares on the Nasdaq Stock Exchange has been approved.
Indonesian COW approved
President Suharto has approved the company's contract of work for its Indonesian joint venture, according to partner PT Indo Teras Intan.
African operations expand
Namco has acquired diamond concession interests in Angola and Zaire while advancing its Namibian marine diamond mining project, including a new 15-year mining licence at Koichab.
No material changes
The company received a mining licence over the Koichab prospect in Namibia and filed to list on Nasdaq with initial SEC approval.
Sunda Shelf exploration to begin
Commissioning of upgraded equipment on the Aokam Thai No. 3 dredge is underway at the Sunda Shelf diamond project offshore southeast Kalimantan, Indonesia, ahead of full-scale bulk sampling.
Namibian mining licence received
Namibia's Ministry of Mines and Energy has granted the company a 15 year mining licence over the Koichab prospect within its Luderitz Bay grant.
Director resigns
K.R. McKechnie has resigned as director and non-executive chairman to become fulltime chairman and CEO of Indomin Resources Ltd.
6mo results
The company reported a $1,822,000 loss for the six months ended November 30 1996 and signed a deal with SubSea Offshore to build the NAMSSOL marine diamond mining system.
Shelf diamond project progress
Ocean Resources reports contaminated clay gravels have halted diamond jig processing on Sample 1A of the Maluka Palaeovalley offshore project pending a clay washing section.