MPVIF Mountain Province Mining Message Board

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Gold/Mining/Energy : MPVIF Mountain Province Mining

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To: Al Krasberg who wrote (873)	5/29/1998 10:44:00 PM
From: Gabriela Neri	Read Replies (1) of 2577

Evidently you are unaware of the real purpose of a minibulk sample. It is to obtain grade calculations more than diamond valuations. Sample of diamonds extracted from minibulk samples is too small to be statistically reliable for valuation purposes. Grade is the main purpose of mini bulk to confirm earlier drill core samples prior to investment in major bulk. True value per ton will not be accurately known until after mini bulk and therefore the real reality is that the only important outcome of this mini bulk sample is that it enables DeBeers to decide to move to the next phase of resourse estimation-major bulk. Grade is more important than value in this round, not that value is unimportant. It is just not the priority of mini bulk. As Kaiser so accurately points out in his prior diamond xploration educational writeup(Feb 1998 bottom fishing report)the accurate knowledge of the distribution of diamonds throughout the pipe is crucial to its accurate ore value determination. Grade goes a long way in establishing this, but the diamond valuation part is tricky with mini bulk. DeBeers has to be comfortable with its knowledge of the diamond distribution characteristics in order for it to place a lot of emphasis on diamond values at this point. Having said all this garbage, bottom line is that if DeBeers advances project to the next stage, the stock deserves a higher valuation due to a decrease in overall risk characteristics of the play. Thats all I am looking for currently-project advancement. Grade and values at this pont are the means to the end . As for exploration, who knows. Whats so important about what transpired with Gerle? Before I rule Gerle as completely irrelevant, tell me why it is relevant.

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