A CANADIAN DIAMOND HUNT Message Board

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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT

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To: Valuepro who wrote (599)	1/11/2002 4:37:29 AM
From: VAUGHN	of 930

Hello All To be honest, I did not invest in TWG because of Torngate. While I followed TWG’s discovery and exploration data on it over the past few years, I did not believe the market would reward enough share value when other plays offered much higher tonnage through pipes. This proved to be true for WSP and for SUF and I saw no reason to fight the market. Having said that, I just reread TWG news releases on Torngate and while they are not “outstanding” or “incredible” they are not without some very interesting numbers both in terms of sections of dyke greater than 2 metres, but also in terms of higher grade sections, diamond quality and size. Nothing I have read here suggests to me that management followed anything but a prudent and reasonable exploration methodology and as they did so, they discovered better numbers. While it is still too early to say, there is a definite possibility that Torngate could be economic and very certainly, a long life mine. I doubt however that it will ever be a 5,000 tpd mine. Regardless, these numbers (up to .88cpt & quality +carrat goods) suggest potential. As with JI, because of tide water bulk supply economies of scale and being able to mine directly in and cave ore down, Torngate mining and supply costs probably would be more economic than they will be for DeBeers at Snap Lake. What will the $/tonne be over reasonably long strikes (and blows)? That is the issue... and that takes exploration and sampling to establish. newswire.ca newswire.ca newswire.ca newswire.ca The numbers speak for themselves. I also came across this NR and I invite all to note the quotation (not from Diamond Trading N.V) but from Lakefield Research. newswire.ca These NR’s can also be viewed on the TWG NR Archive that includes some maps and graphics. Regards Vaughn

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