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Gold/Mining/Energy : Winspear Resources
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To: ddl who wrote (26796)4/7/2002 9:50:29 PM
From: Rocket Red  Read Replies (1) of 26850
 
Saskatchewan Diamonds Now Top Of De Beers' Priority List Date: March 28, 2002

One of the most interesting facts to be gleaned from all the chit-chat of the recent PDAC in Toronto is that De Beers seems to have changed its corporate mind about the batting order . of its diamond projects in Canada. The Snap Lake Diamond project in the Northwest Territories, which it acquired over a year ago after a battle with Winspear, has been put on the back burner and 2010 has been pencilled in as the year when it might be considered again. Apparently the kimberlite deposit has much in common with South African gold deposits in that it is thin and dips shallowly which complicates the mining. Johan Ferreira, the De Beers expert on picking out economic mines by computer modelling, apparently told some people in Toronto that if he had had to make a judgement at the time the Winspear acquisition would not have gone ahead. The decision, however, was made by the De Beers' Canadian arm.
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