Hello Confluence,
Andrew Cumine's letter dated 12th June addressed to the Mail & guardian refers, and I quote as follows;
" Subject to due diligence being completed, De Beers will mine the deposit ( M1) together with other nearby diamond properties."
I see no reason why you are confusing the issue, when my question was quite simple, that being if De Beers has indeed completed its due diligence studies as stated in the above paragraph. The balance of his letter was explicit in its intention, and the importance thereof should not be downplayed simply on the basis of it not being an official press release.
I would think it premature for SUF to issue a press release on the impending mining operations, projections etc, if De Beers has not simultaneously assured investors that they are happy with their own studies. After all, who would conclude an agreement without making sure that the goods bought are to their satisfaction. It really does not make any sense. If De Beers has accepted SUF's prospecting results then why not just say so, a joint press release would suffice.
A 225 cpht figure is impressive, even if it's two thirds of the originally quoted figure, and would be more so if all the parties had publicly announced, by way of a joint press release, the expected income from the M1, which in the past had been discounted so often against the share price, that the share price itself was and still is still difficult to peg.
I believe that the signatories in this joint venture should clarify what the position is, prior to the commencement of the mining operations. Could anyone afford another debacle, I think not.
Regards
INFOMAN
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