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Gold/Mining/Energy : DIAMET/(BHP) TSE.DMM.B

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To: PHILLIP FLOTOW who wrote (82)	7/11/1999 11:12:00 AM
From: jerry janko	Read Replies (1) of 123

BUY Dia Met Minerals (DMM.B : TSE : $25.30 : Issued 32.8M A+B f.d.) James * A note on Greenland BUY Dia Met Minerals (DMM.B : TSE : $25.30) David James, P.Eng. (204) 988-9602 Recommendation: BUY 12-month target price: $30.00 52-week price range: class B $27.00-15.15 Shares O/S: class A 8.3M; 10.5M f.d. class B 21.0M; 22.3M f.d. Major shareholders: Insiders - 26% A, 40% B Working capital (01/31/99): $34.1M Weekly trading volume: 85,950 Market capitalization: $803.9M Last week, Roger Chaplin provided an update on Dia Met's latest fiscal results: the Ekati Mine's production figures and diamond price realizations have been outstanding. Another area of activity for the Company is its joint venture with Monopros Ltd. (De Beers) in Greenland and Minex News, a publication produced by the Geological Survey of Denmark and Greenland dated June 1999, makes the following remarks: The diamond search and company optimism, continue-New macrodiamond finds in West Greenland New exciting results of diamond exploration in Greenland were reported in an April 7 press release from the Dia Met Minerals Ltd.-Monopros Ltd. joint venture in the region south-west of Kangerlussuaq (Søndre Strømfjord) in southern West Greenland (66ºN). A total of 558 kg of kimberlitic rock from six localities yielded 493 microdiamonds smaller than 0.5 mm) and 5 macrodiamonds. All the macrodiamonds and 474 of the microdiamonds come from a 140 kg sample representing material of some 200 kimberlitic blocks that lie on a lineament and appear to outline an underlying dyke. Further results of the processing of kimberlitic samples from the region are pending. This encouraging news marks an optimistic beginning of the fifth consecutive field season of intensive diamond exploration in Greenland. As of June 1, seven other companies are involved in diamond prospecting in western Greenland. The stone counts, in the manner that we have reported them in Canada, from the 140 kg sample are 0.35 macros per 10 kg and 33.86 micros per 10 kg or 34.2 stones per 10 kg. We understand that there is a high quantity of stone fragments and that the samples are boulders believed to be from a yet to be located dike source. This is not really "new" news (April 7 release), but it is obviously gaining official recognition: more work is contemplated. Dia Met "B" remains a BUY with a 12-month target price of $30.00.

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