Hello Gord
Long time no chat.
A very interesting and reassuring NR wouldn't you say?
There were so many positive aspects that it is difficult to focus on any one, but having said that, I must admit that the reference to the extraordinary multiple findings of extremely rare transparent "pink" fancies probably caught my attention more than anything else.
Finding one fancy would be the most unusual stroke of luck especially in such a modestly sized sample, and even then, one would expect it to be the less rare "yellow" variety, but to find six fancies and four of them "pink" is to my knowledge unheard of!
While it is certainly early days, this frequency must be viewed as beyond the realm of a fluke.
There is only one colour of fancy more sought after than pink and it is so rare that it could not reasonably be factored into the economics of a mining plan, but if Snow Bunting (and/or other Galaxy intrusions) ultimately prove to have a reasonably frequent and predictable incidence of fancies and especially "pinks," then the potential of DDN to be valued quite a bit higher, is considerably enhanced.
To give an example of the value of such fancies, Argyle produces about 3-8 very small "reds" or "pinks" every year and those few stones all but make the mining of that pipe economic.
SUF mined a pink from its Angolan dredging about ten years ago which Chris Jennings showed at a presentation he made up here. It was beautiful! If memory serves when that stone was cut and sold I believe the resulting 6-10 carrat fancy was valued at around +/- $10 million. I'm going by memory here, but you get the point that the impact of even a few such predictable fancies could make on the bottom line.
I am quite sure the market will be watching the results of any future mini bulk sampling of Snow Bunting with keen interest, and for that matter, any reporting of the incidence of fancies in the remainder of DDN's 2003 sampling along the Galaxy Structure.
Have a good one.
Vaughn |
