On arrival at Devonport the crew of VH-EKD decided to make an NDB approach. Cloud was present, at or close to the minimum NDB descent altitude. Radio contact was made with two other aircraft, VH-WZJ and VH-MKQ, both of which were departing the MTAF. Separation was established VH-WZJ but no further contact could be made with VH-MKQ, after the initial contact, when the pilot advised he was climbing to 5500 feet. After turning inbound in the approach, separation with VH-WZJ was reaffirmed. A call was then received from VH-NIT advising this aircraft was rolling on runway 32. In response the crew of VH-EKD advised they were established inbound. VH-EKD continued descent to the minima of 830 feet which was maintained until the aircraft was over the NDB. As the crew of VH-EKD was about to commence a missed approach, visual reference was established and VH-NIT was observed approximately 200 feet away to the right and slightly low. A roll to the left was made to increase the separation. VH-EKD continued in visual flight and landed on runway 24. VH-NIT, which was flown by a student pilot, landed on runway 32. The operator of VH-NIT reported that their estimate of the cloud base was 1200 feet. Significant Factors The following factors were considered relevant to the development of the incident: 1. Ineffective communication between the crew of VH-EKD and the pilot of VH-NIT. 2. Inexperienced pilot in VH-NIT who did not comprehend the potential conflict when VH-EKD responded to his "rolling runway 32"call. 3. The NDB approach track at the minima took the aircraft through the circuit pattern. 4. Low cloud/cloud cover resulting in the crew of VH-EKD not having the opportunity to sight the other aircraft until they were in very close proximity to it.