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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited
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To: George J. Tromp who wrote (23)12/28/1997 1:51:00 PM
From: John Stella  Read Replies (1) of 2251
 
george,

Congrats on the thread, it's concise and insightful. I would like to draw your attention to a junior diamond stock trading on the Montreal exchange called Nora Exploration Inc.. Touted as the first diamond producers in Quebec. Their claims are located in Chile, Ghana and Namibia. Their main focus at the present time is in Namibia, operations are located on a 140km long by 5km wide strip along the coast. Production has increased from treating 8 tons of material a hour to 50 tons and hour. During 1997 with one plant at 8 tons per hour generated net revenues of approx. 40,000 $US per month. The upgrading to 50 tons an hour was done early in December. A second 50 ton per hour plant is to be in operation shortly. They have entered into an agreement with DeBeers by which DeBeers must purchase all their production in a timely manner, agreement valid unil 2019. Furthermore, they have signed a JV agreement with Namibian Gemstones, by which they can obtain an 80% interest in what is know as the second largest deep-water diamond concession in the world. Once again located in Namibia, offshore in the 200m-500m isobath. The concession contains 23-1000 sq.km claims for a total of 23000 sq. km. At the present time Nora is funding a major geophysical survey at a cost of 1.2mil.USD. Results should be available sometime in february. Rumors estimate the possible reserves at 3.0-3.5 mil. carats per 1000sq.km.

Hopefully Nora will be on your stockwatch list for 1998.

Regards,

John
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