Come on here folks., lets get your heads out of the clouds., on these
rumors., just to take a contrary point of view., Chuck. There are
more likely takeover candidates than Winspear., sure the possibility
exisits a major is accumulating shares. But lets get real here and take
a dose of reality. The strenght of the diamond market is in large stone
pricing., of which both Southernerna., M-1 qualified., and probably
Winspear as well., but pound for pound., Rex Diamond stacks up more favorably., if a takeover would occurr tomorrow., if Debeers
had a list of takeover targets., I believe the 3 fissures in S.Africa.,
where 2/3 of production is over 1.80carats., high gem quality., and
a portfolio of properties most juniors would drool over. NAV trading at
20mil., with possible tonnage of 11mil on the 3 fissures., not to mention., Mauritania., a diamond play the size of Belgium., and Holland combined. The future will lie in production out of Sierra Leone., and Angola., there is probably none better situated to make
this happen., than Rex and Southernera. Rex has reaffirmed their
Tongo fields., an asset valued by Luc Rhombouts at 3.3Bil., exclusive
of ancillary finds such as small pipes., Zimmi is a story initself., large
alluvial concession that has produced large stones. Lets get real here
folks., maybe a reality check is in order. You all know that I have been a big supporter of Winspear and hope they define a nice tonnage situation., but value is value., and currently a 20Mil market
cap., on Rex even in the eyes of DeBeers must be viewed as a value
asset.
Expand your horizons., lest you be consumed with narrow minded
thinking.
Sincerely
George J. Tromp |
