aust third diamond producer, page-6

re: another incentive package Excellent point jwt.

NAD directors are certainly no strangers to getting free shares and oppies.

I can recall talking to the ex-secretary, Kevin Hart, some years ago. He was on a very handsome salary and was offered heaps of "incentive" shares and oppies. He once admitted to me that NAD (formerly SKR) rejected an opportunity to explore Ellendale. Look at KIM today and compare the sp with NAD, then draw your own conclusions!

Before investing in NAD, PLEASE do some research on the way this money eating machine goes about its business. Don't be blinded by claims like "NAD is the 3rd largest diamond producer in Australia". Compare the diamond production between the top 3 producers.

Here's a couple of NAD bloopers:

* Spent $10m on Ashmore and found a +9 carat diamond from "due diligence" 1 year after ditching Ashmore.

* Seppelt 2 was reportered by the company as consisting of the highest CPHT (carats per hundred ton) since Argyle. What happened to Seppelt?

* The company found a few particles of gold in the Kimberly and prior to waiting for JV RIO to conclude its field study, it wasted $250,000 of shareholders funds in an unsuccessful attempt to float Napier on the ASX.

You Sydneyites will be familar with the expression:

"NAD is as crook as Rookwood!!!"

Invest if you must but DYOR.