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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: Richard Cushnie who wrote (1050)2/9/1998 12:08:00 PM
From: Luke12_15   of 5206
 
check out Cameco's site for yourselves you won't find much on Diamonds. Cameco is focused on uranium and gold. They haven't done as well as investors would like and are repositioning themselves and cutting costs wherever possible. It is obvious that Cameco must have studied the latest results. I would say the results have intrigued them but the need to cut costs is a higher power in this big company. The best way to cut costs yet still maintain the future option of a return is to not put any more money in for now but have an agreement that Cameco may return after paying a cash penalty. They ,of course, would do this if the JV can prove up something big. This would also suggest that to date nothing great has been proven. Only good. So we wait......again.
In the meanwhile here is all i could find on FAC at the Cameco site
"Cameco also owns a 25% interest in the Fort a la Corne diamond exploration project located near
Prince Albert, Saskatchewan. The other partners are Uranerz (project operator), Monopros
Limited, and Kensington Resources Ltd. ("Kensington"). Exploration to the end of 1994 indicated
the presence of diamonds in sub-economic quantities in several kimberlite bodies based on limited
sampling which is not statistically representative. Further exploration in 1995 and 1996 at a cost $3.5
million funded entirely by Kensington continued to indicate sub-economic grades based on
macrodiamond recoveries. "

As you see there is nothing for 1997 Here is Cameco's address


cameco.com
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