A CANADIAN DIAMOND HUNT Message Board

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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT

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To: ralfph who wrote (844)	9/7/2002 11:09:11 PM
From: Letmebe Frank	Read Replies (2) of 930

Hello Red! RE:"Buy your TWG and leave MPV alone!" I've bought my TWG, still have it, and ever hopeful they are the next real diamond play. Good buy at these prices. As are many of the Canadian diamond plays. I would even consider picking up some ACA under a buck: host.wallstreetcity.com Hello chuck! RE:"DeBeers will buy out MPV long before they ever go into production, comparing them to an Aber situation is just not realistic." Time will tell. Detroit RW goin all the way this year too? "The MPV play is a good bet to make money on between now and the eventual buyout, which should come within a year from now." I bet that MPV will trade lower than 1.00 in the next year. I'll be a buyer at 0.80 finance.yahoo.com "DeBeers will want to buy as cheaply as possible and time is not on their side with this one so they must get to the offer stage as soon as possible." Chuck, why is time not on their side? Who else would be in the bidding anyway? And ralfph: RE: "So what does the contract between MPV and Debeers state ?" MPV glossy view here: mountainprovince.com On that link it says: "Once the desktop study shows that an internal rate of return (IRR) of 15% can be achieved, De Beers must proceed with a feasibility study or be diluted down to a 30% interest. A bankable feasibility study can cost as much as C$50 million while construction of the mine can run from C$500 to C$700 million." "Who has the cash ?" DeBeers "Who has control ?" DeBeers "How many shares are out and how many more will go out in private placements." None? "WSP should be a good model to start from. De Beers past record says much as well." Agree wholeheartedly. "I am siding with Frank on this one until I know more." Thanks. My thoughts: Debeers will not rush into Kennady lake to spend $50,000,000 on a bankable feasibility study. Heck, isn't Snap Lakes already done? And what about the "construction of the mine can run from C$500 to C$700 million" ....Sounds Aberish to me. I still think we are years from a buyout offer if it comes at all. Tonnage is still an issue.

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