I still have my shares which I bought at $0.33. I will be selling at first sign of promotion and uptick at ~$0.75. This is not a long term play. This is a hype play, a very typical VSE play, run by typical VSE promoters. There is no way in hell that the market is so INEFFICIENT (for 2 years) that the existing shareholders are the only ones who know how much KRT and its properties are worth.
Go cheerleaders Go. I want to sell ASAP.
Saturday, April 11, 1998
De Beers joins diamond rush
By IAN MCKINNON
Calgary Bureau The Financial Post
The arrival of the world's No. 1 diamond explorer and marketer should convince skeptics the
Alberta diamond rush is real, a mining analyst says.
The size of many junior mining firms involved in the play, a number with market capitalizations less
than $10 million, offers huge rewards for investors if commercial diamond finds are made on these
companies' properties, said Art Ettlinger of Yorkton Securities Inc. in Vancouver.
Thursday's announcement that Monopros Ltd. of Toronto, a wholly owned Canadian subsidiary of
De Beers Consolidated Mines Ltd., has agreed to a joint exploration venture with Troymin
Resources Ltd. adds much credibility, he said. "This brings the world's No. 1 diamond company,
both in exploration and production and marketing, to Alberta, and it gives an increased level of
diamond expertise."
The main area of interest in northern Alberta is in the Buffalo Head Hills area west of Fort
McMurray. Alberta Energy Co., Ashton Mining of Canada Inc. and Pure Gold Minerals Ltd. found
23 kimberlites, potential diamond-bearing zones, in late 1996 and 1997. The news sparked a land
rush, now followed by drilling.
Due to existing infrastructure such as roads, the cost of exploring and developing any finds will be
lower than the Northwest Territories. This means fields in Alberta can have fewer diamonds and
lower quality yet still be commercial, Ettlinger said.
Jack McCleary, president of Troymin, said his firm's 100% ownership in five blocks surrounding
Ashton's promising kimberlites attracted the De Beers subsidiary.
He said discussions started last fall. Monopros has the right to earn up to a 60% interest in
Troymin's 1.1 million acres in five properties at Buffalo Head Hills. It must spend at least $5.5 million
on exploration and development by Feb. 28, 2002, to earn a 51% interest. It can earn the other 9%
by paying for another $15 million in expenditures and arranging financing for Troymin's share of
developing the first mine.
Monopros has agreed to a private placement for 428,000 units of Troymin at 70› apiece. Each unit
consists of one common share and one common share purchase warrant. A warrant can be used to
purchase one share of Troymin at $1.05 for two years. Monopros will operate the joint venture.
Field operations, including geophysical surveying, sampling and drilling, are expected to be under
way by early summer.
Troymin shares (TYR/ME) rose 23› to close Thursday at 76›.
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