Information  X 
Enter a valid email address

Ocean Res Cap Hldgs (OCE)

  Print      Mail a friend

Monday 11 October, 2004

Ocean Res Cap Hldgs

NAV/Investment Update

Ocean Resources Capital HoldingsPLC
11 October 2004

Net Asset Value per Ordinary Share

Ocean Resources Capital Holdings Plc ('Ocean' or 'the Company') announces that
the unaudited net asset value of its ordinary shares as at the close of business
on 30 September 2004 was 30.52p per share.

Ocean is also pleased to announce that BDI Mining Corporation ('BDI'), where the
Company owns 8 million common shares was successfully admitted to AIM on 30
September 2004 raising £1.54 million via a placing.  BDI's common shares are now
traded on AIM and the Toronto Stock Exchange's Venture Exchange.  BDI has begun
commissioning of its Cempaka gem diamond mine in Kalimantan, Indonesia.

The directors of BDI expect Cempaka to achieve Stage 1 commercial production by
the end of December, and generate free cash flow in excess of US$3 million
during 2005.  The mine is estimated to have a plus 10 year mine life from
alluvial resources containing in excess of 700,000 carats of gem diamonds.

For further information, please contact:
David J Hutchins or J Merfyn Roberts at Ocean Resources Capital Holdings Plc
Telephone: 020 7332 2070

                      This information is provided by RNS
            The company news service from the London Stock Exchange            TTMMBBBPI                                                                                                                                                                                                                                                      

a d v e r t i s e m e n t