Good Morning Bill and all: Back in town for the weekend., and last
night reviewed the release. I am pleased with the size of the stones.,
as well as the fact that I cannot recall seeing 3 large gem quality stones mentioned in such a small sample. As I recall with Aber and their 8 carat stone., it wasnt achieved until around 10,000 tons of ore
was processed. Thanks Chuck for your vote of confidence., concerning the grade. Keep in mind that the Koala pipe is around .63
carats per ton and the 200 US per carat comes to mind. A 10 mil
ton resource could bode very well for a very rich deposit going forward. Bill., I cant recall having brecciated bodies evident on a property without a source being evident. Whether the source has
vented was postulated some time ago by Winspear geologists.,
with the debris., wood., found in one of the boulders. Just a thought
to remember., the boulder train found on the S.E. Shore had better
diamond counts than the dykes., and 3 stones of nice parameters.,
so one may conclude the small bodies found in the 22 drill holes
drilled last winter will probably contain as well large stones. Contingent
on the analysis of the diamond values in the sill., these cores could
provide some more nice large stones. Another thought to keep in mind., the only deep drilling that has occurred was in the center of the
lake., around 250 meters to 300 meters., their still exists a considerable area where only shallow drilling to 50 meters occurred.
If one were to assume that the 18 stones were 1 carat in size.,
and the other 3 were 24 carats we would have a minimum of 42 carats out of 228 that are large stones. This would indicate that
we have 18% of the stones large. How many of those 228 carats bordered just under 1 carat is not in the release., however Rex
Diamond for example produces by wt 30.7% stones in the category
of .85ct to 19.9 carats which account for 60% of the value. The
Av. US/carat is 485 with a top range of 7500US. Stones as well
below 1.0 carat specifically 11 points to .85cts have values that average 104US per carat with top range of 335.00 per carat.
Putting this in perspective., I would expect to see a valuation min.,
of 335 to 485US for each 1 carat stone.
So here is my prognosis for future overall valuation and how it was
obtained.
18 stones of 1 carat min.(Stones reported by Winspear may be larger)
18 x 335(Low end of value) = 6030 US
1 stone 10 carat = 3500 US per carat
1 stone 8 carat = 1800 US per carat
1 stone 6 carat = 1000 US per carat
+++++++++++++++++++++++++++++++++++++++++++++++++++++
Total value 61400US
Allotting the mim. of 1 carat to the 18 stones., it would leave a remainder of 186 carats. If all those stones were under 11 pt., one could add 42.OO per carat. However., the percentages of large stones found indicate this wont be the case. So lets say the mix is
somewhere in between ., the 11 pts around 40US per carat and the
.85C around 100US. For all practical purposes., I will choose 60US
per carat which is the low side.
Lets add the numbers 186 caratsx 60US = 11160
+++++++++++++++++++++++++++++++++++++++++++++++++++++
Potential total value for 194 dry tons = 72560
OR 374US per carat. Discount this by 30%., as I feel the gem quality
will be around 60%.
Here is my call., seeing the large stones were all gem quality.,
and Miss Sophie has zippered lips.
My projections are 275.OO US value per ton., and this would be
based on Gem quality percentages of 60%., and a predominant population of white stones.
The figures quoted above are for illustrative purposes., and are my
personal views.,
These numbers are based on the assumption that 87% transparent
stones., encountered in the dyke system translate to 60% gem quality.
As far as the 3 stones., the odds are that 1 or 2 of those large stones
meet the colored parameters with 1 being white., 1 being yellow.,
and god I hope number 3 is pink or green., but the odds are low in that regard.
++++++++++++++++++++++++++++++++++++++++++++++++++++++
Hello Walter: Glad to see you back from the bush., say what airlines
fly up to the Yellowknife area.? I may be making a trip up there this
summer., and would like to drop in on you and Vaughn., should that
happen.? I thought about just showing up on your doorstep., but that
might be pushing it a little.
Take care Walt., and lets hope for some good valuations., we have
some nice size stones for a 200 ton bulk.
Sincerely
George J. Tromp
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