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Gold/Mining/Energy : Tahera Corp (TAH)

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To: who wrote (26)	6/8/1999 6:31:00 PM
From: Serge Collins	Read Replies (1) of 239

Hayseed: The company has a good website where you can get a lot of information about their properties and projects. Basically they are proposing to develop and mine one of their properties (Jericho) from an open pit which has a resource of approx. 3.8 million tonnes of ore @1.01 carats per tonne to a depth of 180 metres. If you go deeper (300 metres) the resource increases to about 17 million tonnes @.03-1.0 carats per tonne. Recent bulk sampling on the Jericho property produced a bulk sample of 14,500 gross tonnes or a net sample of 9,400 tonnes which yielded 10,500 carats valued at about US$60 per carat. They are proposing an open pit mine which will keep costs down and allow mining to start a lot faster than it would if it were an underground operation. The 3.8 million tonnes of 1.01 carat/tonne has a rough value of about US$225 million at US$60 per carat. I'm not sure how much tonnage is found below 180 metres (probably a little less and not as rich in carats/tonne), but that tonnage would be mined later and adds significant value to the project. They also have a new diamond bearing pipe at Contwoyto that was discovered in the Fall of '98 and another pipe at Jericho which is not land based. The company has a mill that presently operates at 10 tonnes an hour, so the company is active in the area and that will help them with regulatory agencies who must issue the mining permit. The market is ignoring the diamond miners right now as everyone awaits the start-up of diamond mining in the NWT, but once these regulatory hurdles are passed, and once some of the big diamond players start their operations, the press will be giving this play a lot of coverage.

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