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Gold/Mining/Energy : Diamonds North Resources Ltd
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To: Rocket Red who wrote (196)8/22/2003 3:07:16 AM
From: VAUGHN  Read Replies (1) of 334
 
Hello Rocket

I think that might have been the "tide" effect. While the NR was certainly interesting, it wasn't the kind of data that would really excite the market. At one hectare, the pipe was about as big as one of Ekati's or Diavik's smallest and therefore many more like it would be required with Diavik ore grades to make a mine and that is unlikely. Certainly a nice beginning, but not good enough to yell about.

What I want to know more about is drill core from those 400 meter diameter magnetic lows. By CDN standards, those would be pretty big pipes and if they contained numbers better than say .5 carats per tonne and preliminary average stone values of say $100 per carat then two or three pipes of that size plus small ones nearby and/or the dike's contribution would make a very nice long lived mine.

Any news that begins to touch on data associated with that possibility will send DDN up nicely, but until there is such an indication, I don't believe we will see too much of a steady volume and price increase at least based on the VI claims.

Right now, speculators are jumping in and out of SRM on every little blip which just puts off more investment minded players and I would rather not see that happen to DDN.

Good luck though.

Regards

Vaughn
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