Namco forced to suspend mining.(Brief Article)

London-based Namibian Minerals Corp. has been obliged to cease its seabed diamond-mining operations and to place its main operating subsidiaries into provisional liquidation, following the failure of a planned US$10.25 million financing. The company has obtained a provisional winding-up order for the subsidiaries, which will become final in about six weeks' time. The subsidiaries will be administrated in the meantime by liquidators appointed by the relevant courts. Trading of shares in Namco on the Toronto and Namibian stock exchanges and on the US NASDAQ system has also been susp