Mountain Province Diamonds Inc (C-MPV) - Street Wire
Mountain Province: ignore at your peril, says Kaiser
Mountain Province Diamonds Inc MPV
Shares issued 49,116,070 Jan 27 2003 close $ 1.40
Monday January 27 2003 Street Wire
by Stockwatch Business Reporter
John Kaiser rattled off largely favourable comments on at least two dozen diamond stocks to eager investors during a 30-minute talk at the 2003 Vancouver Investor Conference on Monday, and a long-time favourite -- Mountain Province Diamonds -- was singled out for special praise. Mr. Kaiser said that if you want to double your money in the next 12 months, this is the one.
The San Francisco-based letter writer, who has been writing about Mountain Province since the April 4, 1995, edition of the Kaiser Bottom-Fishing Report, said De Beers is not going to put anything into production with a project value of less than $500-million -- and De Beers still appears to have a great deal of interest in the company's Kennady Lake, Northwest Territories, project.
"This could be a $5 to $10 stock," Mr. Kaiser says, noting that the market has assigned Kennady Lake only $200-million in project value.
Mr. Kaiser recommended Mountain Province in December, 2001, at 62 cents; earlier buy tips were December, 1999, at $1.75 and February, 1997, at $4.31.
In December, Mr. Kaiser told subscribers that a comparative assessment of microdiamond distribution curves indicates the Hearne, 5034, Faraday and Kelvin kimberlites all have high diamond grades in the 1.5- to 2.5-carat-per-tonne range, but cautioned that his oft-repeated buyout speculations are subject to Hearne and 5034 bulk sample valuations.
No such cautionary statements were evident in his Monday talk. In his conference preamble, Mr. Kaiser noted that while Canadian diamond production is currently fifth place in an $8-billion market, he foresees Canadian production increasing to half the world's production in the next 20 years.
"Just about any of the companies (mentioned in his talk) fair to good value from an exploration standpoint," Mr. Kaiser said.
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