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Gold/Mining/Energy : Winspear Resources

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To: Walt who wrote (6027)	6/16/1998 11:25:00 AM
From: Rick the Vet	Read Replies (2) of 26850

Walt: Question from a long time lurker. Excerpt from Northern Miner June 8 - 14 edition. Mini bulk sample from the Koala North pipe at the Ekati mine project in Lac de Gras. A total of 126.58 carats of diamonds exceeding 1 mm in size were recovered from a 201.7 tonne sample for a grade of 0.63 carats per tonne. A commercial valuation of the stones in Antwerp, Belgium pegged them at US$200 per carat. Three gem quality stones ranging from 3.26 to 5.41 carats account for 77% of the value. If the Winspear diamonds are of any quality at all, given the size, couldn't we expect the value per tonne to be at least US$200 per tonne? P.S. Isn't it fortunate the market values diamonds in US dollars.

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