Hello Peter
I still do not believe the market has ever given any weight to Angolan assets so I do not believe the current share price is reflective of that so much as a depressed resource market and a hangover from the legal situation.
Goalie's post from HA below pretty much sums things up. Its worth $10 now without 40% of Marsfontein + blue sky on Klipspringer farms + NWT + ?.
It is and always has been money in the bank and I will wager dollars to donuts that we will hear more about other small Klip pipes before the summer is out.
I get the impression that CJ is only commenting on the trains they have traced from the Yuri into Munn Lake as that is where they have spent the majority of their time and money. Margaret Lake appears promising but this is SUF and it does not usually trumpet something that it is not pretty sure about so that is some more blue sky for another day.
I doubt SUF would be following Margaret Lake if the indicator and geochemical characteristics were not similar to those being found around Munn which I understand are outstanding (G-10's that plot well into the subcalcic realm, very high 35-40% Mg geochemical content, large crystals and the Yuri has a very high ratio of Eclogitic nodules).
Eclogitic diamonds tend to be larger and their host kimberlites higher grade, on average, than are peridotitic sourced diamonds/kimberlites, according to the papers I have read.
The current situation will be a bad memory by this time next year.
One last thing, that old friend of yours sent me an e-mail this morning summing up the AGM. One thing not mentioned on the thread, which I had suggested earlier and which he now confirmed, is that the "heirs" only ever had a claim to 15% of the Marsfontein farm. Randgold and SUF controlled the remainder.
Unfortunately, SUF did bring the remainder of the farm (85%) to the table as part of negotiations with DB. So DB gave up 60% of the M-1 and 3 in part to gain 60% of anything that will probably be found on the adjacent lands. A gamble on their part, but suggestive to me that they consider the remainder of the farm to be highly prospective. Perhaps they have even flown an arial survey and identified other targets with similar characteristics to the M-1. Entirely likely that they have made a highly astute decision which while frustrating to all of us, augers well for future blue sky news.
Thanks Goalie for your posts and info. Appreciated.
By the way, hello to all our new posters. Some very good stuff from all of you and the tone of your contributions is appreciated.
As passions subside, I am hoping the thread can get back to its old personality and it appears our new contributors will fit in nicely.
Regards to all. |
