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Strategies & Market Trends : Winter in the Great White North
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To: russet who wrote (484)3/27/2001 1:33:20 PM
From: teevee  Read Replies (1) of 8273
 
russet,

Here are some of my thoughts on the recent SUF news release:

The additional properties contributed by De Beers and Steppon will extend the strike length of the Klipspringer fissure system more than four kilometres to a total of 7.5 kilometres. Some of these properties also have good potential for alluvial diamonds derived from Marsfontein's M1 pipe. These additional resources will accelerate the development and potential expansion of the Klipspringer fissure mine, which is scheduled to reach full production of 150,000 carats per year by the second quarter of 2003.

As you may recall from some of my earlier posts, I have speculated on potential for alluvial diamonds in the gravel apron around the M1 pipe. The M1 produced over 1.7 million carats in about 18 months(at $US100/carat that is an incredible US$170 million in only 18 months!!!). At least 500 meters(and maybe as much as 700 meters) of the M1 pipe has been eroded and the diamonds therefrom are in the gravel apron around the pipe and downstream. Considering pipe geometry and the 1.7 million carats recovered from the M1 deposit, there should be at least 3 times that amount of diamond occurring in the gravel apron and alluvials downstream. Supergene enrichment suggests the gravel grades could easily exceed the M1 grades. If this is so, with the bridge financing that SUF has for Messina, then by the end of the second quarter, SUF could have sufficient cash flow to arrange a line of credit to finance the balance of Messina without any further dilution. The cash flow increase would also allow for accelerated exploration and development in other areas SUF is exploring in.

teevee-looooooong SUF:-))
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