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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: Chad Barrett who wrote (2394)7/31/1998 9:49:00 AM
From: BUDDY MOYNIHAN  Read Replies (2) of 5206
 
hello chad:

i do not know as much as we both would like about the '98 drill program chad but i'll give a few observations anyway. first stone has said several times that drilling will start by the beginning to mid-september. i have no knowledge that would contradict this (i also haven't spoken to stone on the phone in about 4 weeks now). second, since the bill is only $400+k this tells me cameco isn't leaving the jv and that 30 tonnes of kimberlite will be taken from 3 pipes (the three best pipes according to art decarle). drilling will probably take 10 days give or take a couple then our wait. it shouldn't be as bad this time as debeers now has a facility in canada (so i hear. i haven't visited it). will they be doing a bulk sampling that is meaningful? well, yes but we need to understand the sampling. art decarle told me that as the amount of sample approaches 70 tonnes the closer the actual grades approach luc rombouts' extrapolated projections (3+ economic pipes). pipe 220 seems to have the inside trek to be the best of the best. with this next round of drilling it should have had close to 70 tonnes of kimberlite analyzed. this would be meaningful. will they take out 300 tonnes? no but the amount taken should answer many questions. this plus cameco (now 40% owners) staying in provides some opportunity in this next drill phase. i'm glad to see we both didn't decide to hold our respective breadths waiting. i hope i've helped. i'll try to get facts to back up the assumptions. enjoy the weekend all, buddy.
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