Announced by: NMC Announced on: 03/12/2004 19:25:23Status: Not...

Announced by: NMC
Announced on: 03/12/2004 19:25:23
Status: Not market sensitive (N)

59% increase in resources, makes NMC a prime take over target, can't wait for SED's next offer, better get in will be 8 or more cents

Shareholders are advised to TAKE NO ACTION in relation to the Sedimentary offer pending receipt of a formal recommendation from the directors of NuStar, which will be contained in the NuStar Target's Statement.

At present 59 percent increase of resources and to the declaration of a mining reserve of 1.20 million tonnes at 10.66 g/t for a contained 412,000 ounces.

Shareholders do not need to act hastily as the offer must remain open until at least early January 2005.

Your Board will ensure that you have ample time to make a decision in relation to the offer, after receiving the NuStar Target's Statement which we expect to send to you in mid December 2004.