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Gold/Mining/Energy : Mountain Pronvince Diamonds
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To: james flannigan who wrote (7)6/18/2004 12:28:33 PM
From: james flannigan  Read Replies (1) of 10
 
The New extention of the Faraday body may well mean that the overall project could now be worth twice the $3.6 billion ore in the 5034 Tuzo and Hearn.The Faraday body size suggests 20 million tons of high grade ore may be present.If so the New NPV of MPV shares discounted at 10% could be worth $6.00.The mining plan could be revised to double the ore output.This is IMO likely that Debeers will fast track the exploration this summer and prove up the Faraday body as the target is land based.My price target of C$10 to C$15 at the time of production may be too low if the high grade Faraday is added to the future production plan at some point.In fact the high end of the target my wind up at C$30.00.I have and always belived that Debeers is only telling the minimum amount of information to MPV shareholders in a effort to wear them down, as well as the stock price.So far they are succeeding.But at some point the market may do the math and the game will be over for good. James
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