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Kaiser says Mountain Province eyes $5 price tag
2003-10-17 18:10 ET - In the News
John Kaiser, writing in an Oct. 17 Express, says the strong market reaction to microdiamond results reported on Oct. 14 by Mountain Province Diamonds (then $1.72) indicates growing confidence among investors that De Beers will proceed with a prefeasibility study on the Gahcho Kue project. Mr. Kaiser recommended Mountain Province in December, 2001, at 62 cents; earlier buy tips were in December, 1999, at $1.75, and February, 1997, at $4.31. He says that since July, there have been a number of developments that support a go-ahead. For instance, on the adjacent Doyle Lake property, De Beers has recovered 160 kilograms from the sill, whose strike has been extended to 2,000 metres. The core is chock full of indicator minerals and may very well deliver microdiamond results before the end of the year that indicate a high grade similar to that of Gahcho Kue. In terms of market moving news flow there is nothing in the wings that would affect Mountain Province other than a formal announcement that De Beers is proceeding with a prefeasibility study. Mountain Province will trend higher toward $5 on speculation this is the minimum De Beers will have to pay. MPV remains a "spec cycle 100% hold |
