Panel Publishes Reasons for its Decision in Relation to Application for Review by Majestic Resources

The Namakwa 4 Panel has today published its reasons for its decision to decline to commence proceedings to consider an application for review by Majestic Resources (Majestic) of the decision of the sitting Panel in Namakwa 3. The application concerned a valuation in Namakwa Diamond Company NL's (Namakwa) target's statement issued in response to the takeover bid announced by Majestic on 15 March 2001 for all of the shares in Namakwa.