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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: Rocket Red who wrote (9245)9/4/2002 11:29:48 PM
From: Al Collard  Read Replies (1) of 11802
 
MPV-t...in the news:

Kaiser says Mountain Province ripe for revaluation


Wed 4 Sept 2002


John Kaiser, writing in an Aug. 30 Bottom-Fish Tracker, says that nothing
astonishingly new can account for Mountain Province Diamonds breaking out
of its 70- to 90-cent band -- but the timing is ripe for a radical
revaluation of the Kennady Lake project. Mr. Kaiser recommended the stock
in December, 2001, at 62 cents; earlier buy tips were December, 1999, at
$1.75, and February, 1997, at $4.31. Mr. Kaiser notes that Thursday's
volume of 145,000 shares is a massive increase of typical daily volume.
Thursday's jump on the Toronto Stock Exchange appears to be a knee-jerk
reaction by Canadian speculators watching Mountain Province from the
sidelines. Key news, such as revised average carat values, is not due until
December. A buyout by De Beers is not a realistic possibility until after a
feasibility study. It is unrealistic to believe that De Beers will develop
a diamond mine that does not have a net present value of at least
$500-million. The speculative hope is that confirmation of a subpopulation
of superdiamonds will push up the modelled values of the Kennady Lake pipes
sufficiently to make the project meet De Beers's 15-per-cent internal rate
of return.
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