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Gold/Mining/Energy : Caldara's Diamond CDR,M
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To: d.h. who wrote (83)7/30/1997 10:10:00 AM
From: Aurum   of 303
 
I don't know the CDR people; they are from Perth (Western Australia) and there is two thousand miles of nothing (well, almost nothing apart from good gold, base metal, diamond and nickel country) inbetween. Needless to say the east and west coasts of Australia are about as divorced from each other as California was from the east coast of the USA at the time of the gold rush. Yes, I know that was nearly 150 years ago - but the east and west of Australia were only joined by road in 1942.

I do know some people who know some of the CDR people and nothing they have said gives me any cause to worry about the integrity or competence of the CDR people. The reporting of the field work etc has a ring of competence and straight dealing about it, so I am comfortable about CDR.

The major problem in Australia in looking for kimberlites and lamproites is that the depth of weathering is much greater than almost anywhere else in the world (400 metres in places). Kimberlites and lamproites are pretty unstable, chemically reactive rocks which weather easily, so the magnetic signatures (magnetics are about the only regional geophysics that one can do in Australia because of the depth of weathering and the wide spread presence of salty ground water) are usually very faint. Given these severe technical problem I think that CDR's performance has been impressive.

Two Australian diamond exploration stock which are also looking good are Diamond Ventures NL and Auridium. Details can be obtained at the HotCopper site.
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