Good Afternoon WillP and wellcome to SI on behalf of thousands who have enjoyed reading your posts.
Just a couple of comments and would appreiate your thoughts.
I believe that Southernera's M1 is currently the richest kimberlite deposit that is being mined today. SUF's M1 has an estimated tonnage of 1/2 million with a possible .7 million tonnes maximum.
"Marsfontein Joint Venture Production (SUF 40%/De Beers 60%)
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SouthernEra Resources Limited (SUF-TSE) is pleased to report that in January and February, 1999, the remaining 197,006 carats of the 1998 production of Marsfontein M-1 diamonds was valued by De Beers at an average price of US $130.74 per carat. During the 4-month period, September to December, 1998, 528,754 carats of diamonds from the Marsfontein M-1 pipe were recovered, with a total value of US $83,340,966. Total production of diamonds from the M-1 pipe, from September 1998 to-date, now stands at 650,875 carats.
More than 80% of the total value of production to-date has been
contributed by diamonds of one carat or greater. These larger diamonds
constitute slightly over 50% of the total carats recovered."
newswire.ca
Winspear may match or significantly exceed the value per tonne of the M1 with 10 million tonnes proven and 20 to 100 million possible.
With regard to mineable widths, REX diamonds was very pleased to think that they might have an opportunity to mine a fissure in Sierra Leone which was of lesser grade and a fraction of a meter in width (.25 to .3m or about 1 foot).
Message 8555665
SUF had no problem climbing to $20.00 with less sampling than has been done to date at Snap Lake.
I mention these matters because some have suggested that the last NR did not meet "expectations" and that some are expecting a sell off on Monday and an opportunity to buy at lower prices.
My thoughts on this are quite simple. If you have an opportunity to buy some cheaper-grab them. But I certainly would not suggest that anyone sell with an expectation that they will be able to buy cheaper.
The folks who can do the math on this are wondering why we are not at $20.00 already and the folks that can't are saying -I don't believe the math -show me the big diamonds and the profits first.
Appreciate your thoughts. Oh, and one question. Are you coming over to the Winspear thread or do we all have to bookmark three threads? |
