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Gold/Mining/Energy : REX DIAMOND MINING TSE:RXD
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To: LAURIE SELINE who wrote (1757)10/5/1999 9:41:00 PM
From: Andras  Read Replies (1) of 2522
 
Annual meeting was an upbeat affair Serge feeling that he has a major diamond producer on hand and he certainly has the vision and drive to make it possible.

There should be loads of news releases over the next couple of months.
100 kg grab sample is being analyzed in South Africa and Lakefield, Ont.(results in a couple of weeks?). More and more anomolies are being found and the spacing of mag flights is decreasing (200m) and more soil samples taken. Exploration is still only costing about $100K/month, within affordability range. Costs are controlled by using mostly locals. Three out of four provinces have shown macro diamonds. No need for J/V partners. Able to raise monies in small increments in Europe through private placements, mostly friends, family people who share his confidence, and presumably are in for the long haul. He has been personally back stopping offerings by buying or offering to buy shares not bought by others. Does not want to dilute equity any more than necessary. Has good title for all land position and has the official sanction of Belgian government. Feasibility study would cost about $12 million.

South African operations now profitable. Planning to sell diamond jewellery on the internet. No warehousing costs, Italian name designers, should be operational by the end of November.

Sierra Leone is on ice at least until next years elections. Title, is protected, all cost written off, caretaker operation is costing $10K per month.

If the mother lode is found this could be a world class producer.

Happy investing,

andras
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