Namakwa Diamond Company NL 04
On 27 May 2001, following a review of the decision of the Corporations and Securities Panel in relation to Namakwa Diamond Company NL No. 3, we decided that we had received insufficient evidence supporting the application by Majestic to commence proceedings on its allegations of deficiencies in the valuation of Namakwa in the independent expert's report prepared by Ernst & Young Corporate Finance Pty Ltd which accompanied the target's statement issued by Namakwa on 23 April 2001.
These are our reasons for that decision.