Hello Vaughn. I took some time to digest your post (no doubt you took some time to put it together!) and it summaries every influence on the success of an exploration play, except for one perhaps - luck.
Your decision to "not consider any plays with principal diamond properties outside Canada ... because Canadian/US investors simply don’t reward them" is true for the most part. I certainly see it with my SDM southernera diamonds holding.
When I read point "5. Some plays are managed and/or significantly owned by well recognized names who have previously found economic Kimberlite (pipes)" DSP & MTX came to mind, but not SRM. Maybe you can fill me in on that one.
Re Point "7. Some plays have targets that do not appear to be on any previously identified craton (cool thick, undisturbed mantle root zones)" Other than DVV's exploration of targets in the states, nothing came to mind for me. You however had tied this poit to MTX. I wonder why?
I was certain point 8 was directed at TWG: "Some plays have interesting even exciting economic deposit potential, however management either has little to commend it and/or has its focus elsewhere".
My first thought for point 9 was it fit ACA, but you may have been thinking of DDN?
"9. Some plays have dikes as their principal resource while others have one or more small pipes making economic deposit more difficult to establish".
For point 11 "Some plays are nearer to well developed infrastructure than others and/or are able to be explored/developed over more than just a few months of supportive weather".
My first thought was GEM, but in retrospect I guess SRM might fit the bill somewhat. But from what I have read of the Victor pipe, infrastructure is a big concern, as there are no roads into the JBL's. Last year I had posted the feasability study for the victor pipe, and it was discussed at length in the report. I did a quick look for it and I didn't find it, but I did find these references: www.dumontnickel.com/PDF/MetVen_TechRep.pdf
debeerscanada.com
"The mine will be supported by winter road access
(February and March) for major consumables, which
will be stored on site and distributed as required.
Perishable and emergency consumables will be shipped
year round by air. Personnel will be transported to
the site by air with pick-up stops at the coastal
communities and Timmins."
Point 13 was likely refering to SRM, and maybe DSP - I don't think MTX could qualify. "Multiple coincident mag/EM (and/or gravity) +2 to +8 hectre pipe targets immediately up-ice of outstanding mineral geochemistry trains, will be drilled later this spring or summer"
Who is currently drilling "Multiple coincident mag/EM (and/or gravity) +2 to +8 hectre pipe targets are currently being drilled immediately up-ice of outstanding mineral geo chemistry trains"?
"15. Kimberlite fragments and/or boulders have been found and proven to contain outstanding G10’s and/or high micro and/or macro diamond counts" - Does this apply to SRM and DDN?
16 is clearly MTX, but you tied it to SRM - slipup? "Near large circular mag/EM targets, RC cores have been pulled containing thick green Kimberlitic clays, Kimberlite fragments, Illmenites and/or excellent quality G10 pyropes exhibiting kelphitic(sp?) rims and several micro or macro diamonds"
Vaughn, I didn't know who has "17. From several large circular targets, deep Kimberlite cores have been pulled exhibiting numerous large eclogitic nodules, little country rock and numerous obvious large pyropes (and/or diamonds :-)" Care to share? DDN on VI?
DDN?: "18. Ten to fifty kilogram RC Kimberlite samples have been tested and found to contain micro/macro diamond count ratios suggestive of potential for diamond grades similar to operating and/or developing Canadian mines"
DDN for sure: "19. Ten to fifty kilogram Kimberlite samples have been tested and found to contain the occasional or more than occasional yellow, pink or blue fancy macros…"
MPV: "20. A mini-bulk sample produced 1,000 to 25,000 carats examined by an established firm of diamontaires(sp?) who assigned a preliminary generalized value of approximately $75/carrat or better"
TAH? "21. A Feasibility Study is near completion and/or a Water Licence and other permitting has been issued"
RE: "22. A major will be making a takeover offer for a junior or a buyout of one of its properties that has proven to offer excellent economic potential…:-)" Do you think it will happen before completion of a prefeasability study? If so who, or just wishfull thinking?
SWY, SRM, DDN, GEM - more? "23. And some plays are managed and/or partnered with major diamond miners who don’t make a habit of speculating in lost causes…"
So your short list is MPV, MTX, SRM, DDN and A gamble on CD (which I will add to my list).
It's great that you took the time to clearly explain your reasoning for your choices, and I agree with it. I have a positionin SRM & DDN, and would like to add some MTX, but without some real results it will hover under a buck.
I would add GEM to a short list of undervalued plays for its diamond and gold potential. Even TWG is likely got more upside than downside. Its Atlanta property should slowly add to its cap.
Well times run out again. Take care...
LMBF |
