Samples indicate potential
Preliminary survey results show all three marine concession areas, totalling 1035 square km, contain significant diamond bearing potential.
$15,275,000 financing completed
The company completed a brokered private placement of 4,700,000 units at $3.25 per unit for total proceeds of $15,275,000.
Namibian operations officially opened; Namibian listing application
Namco officially opened its Namibian operations on December 3, 1993, and received ministerial backing for a Namibian stock exchange listing application.
$15m private placement
The company arranged a $15,275,000 brokered private placement of 4.7 million units with Yorkton Securities to fund a three-phase marine diamond exploration program in Namibia and South Africa.
Board changes
The company appointed three new directors to its board on Oct 22. Michael Siefert stepped down as director on the same date.