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Gold/Mining/Energy : Precious and Base Metal Investing
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To: lbs1989 who wrote (20)10/9/2001 11:00:23 AM
From: jpthoma1  Read Replies (3) of 39344
 
BAY and FGX have well advanced projects with resources (or reserves) ready to be exploited. They were able to bring these projects to this stage with their own money and without much dilution.

With diamonds, it is very difficult for a junior exploration company to be able to bring a diamond play to such an advanced stage. You need money, lot of money to explore and a lot more to develop diamonds plays and in today's markets, most of these juniors are not able to raise such huge amount without heavy dilution.

Consequently, most of the discoveries are optionned or sold to majors and fall under their exploration timetable which is «quite different»!!!

This is the reason why I look for grassroot plays like MAJ or TWG and get out of these plays as soon as I have reached the desired return on my investment in such plays (between 50 and 150% in a six month range, if successful, minus 50% or less if not!!!!!).

For more advanced project, I am not sure you can have such returns over such a short period of time.

All these words to say that don't know a lot of advanced diamond plays still held solely by juniors. Majors control most of them.

The last «Diamond section» in the Northern Miner (Sept. 24) may be helpful for finding such projects.

JP
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