Canadian Diamond Play Cafi Message Board

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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: Natedog who wrote (16010)	2/23/2020 11:34:34 PM
From: MadDogMike	Read Replies (2) of 16203

A bit messy...but this is the location with the purple star in relation to Cobalt, Ontario. Here is a zoomed in view. The 4 targets on the left are the ones that seem to have the cheapest entry point for an investor. PGP owns that land on the left and they sit at around CAD$1.2 million valuation. RJK which has optioned lots of land in the area with some steep GORR on some of them and RJK sits at CAD$13 million market cap. RJK will be doing work o the PGP land to earn up to 60% interest in the project...leaving the upside for PGP at 40% ownership with no cash going out the door. The colourful targets on the right are RJK's options on the KON claims (KON - private entity). The top one is the Dyke that was found a few years ago. They drilled it this year..and confirmed kimberlite core. I have doubt as they sampled the outcrop for diamonds a few years ago and found 0 diamonds in a 25 kg sample.They also drilled KON1 and discovered net new kimberlite. Could be diamonds, maybe not. No idea if they will be submitting to lab or not. Kon3 probably has a good chance if they think of a linear pattern...I am doubtful on KON2. It is the opposite mag reading as the others...so probably something completely different. Given market valuations...PGP seems to be a much more appetizing investment in a high risk area. I guess one has to believe that the Cobalt area where historic kimberlites have been shown not to be economic still has a chance at a home run. I have no idea myself...but there is a lot of promotion $$'s convincing investors that a home run is not only a hope and prayer...but a real chance. Very few stakeholders/investors really understand statistics otherwise they wouldn't be getting their and other peoples hopes up. Stay calm and surprise to the upsize. I guess any thoughts on that area would be welcome! Mike

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