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Gold/Mining/Energy : Mountain Pronvince Diamonds
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To: Chas. who wrote (4)5/24/2004 8:37:08 AM
From: james flannigan  Read Replies (1) of 10
 
Chuck,I too think the market has handed us a window to buy cheap shares.As we know diamonds are very rare and hard to find.After all look at how many JR an SR companies are spending million on finding them with no success.MPV has the goods and in this window of history you and I have the good fortune to make money on this deposit that has been in the ground for billions of years.To trade this stock at the highs or lows for some to make money may work.As for me Iam not that smart.I think the stock is worth at least C$4.00 therefor to sell it at C$2.50 using my mathamatics would be a mistake.What I wish not to happen,is MPV management not allow the stock price remain low with not pointing out the value to their sharholders,thats what Randy Turner did at winspear.Debeers realized that the market was undervaluing WSP and that the management was asleep at the switch.Some say that Debeers stole $10 billion dollars at Snap for a mere 5% of the mined out value for C$500 million.I would argue that over the 20 yr mine life with expected inflation of rough diamonds,that the figure may be well north of $10 billion.We shareholders must understand that the ore value at KL converted to a gold mine is grading 10 grams per ton.IF the market was to conect that conversion our stock price would be much higher,its a shame that MPV management does not want to inform their shareholders of the value at KL.I guess they will scramble only after the fact when Debeers points out the value with a bid.Its too bad MPV management has learned nothing form WSP.We will all find out when Debeers owns 100% of the project,that MPV management was so happy to sell that they would except pennies on the dollar.
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