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Gold/Mining/Energy : Winspear Resources
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To: E. Charters who wrote (7536)8/3/1998 11:59:00 PM
From: average joe  Read Replies (2) of 26850
 
I was witness to a salting operation in August 1994.
average joe gets a call from a promoter late one night
asking where he could buy uncut diamond, just to show
potential investors what they looked like. A week later
this guy comes out to view the drilling operation with a
director of the company.

The drill site geologist was fuming that he had to usher
these two idiots around and they stayed to 1:00 a.m. Like
magic the drill hits a thin sequence of kimberlite tuff that
grades 4 carats a ton. They announced hitting a new kimberlite,
and of course the fantastic diamond count. They put out a small release much later to the tune of "we're sorry that we over
estimated the diamond count, it appears the bit was just kicking
off all kinds of diamond drilling through the soft mud."

There is another historic diamond find from many years ago
elsewhere on the continent. Two prospectors find diamond
and then went to town to raise money. The banker saw the
potential of the find but figured there should be more diamond
for a good stock play. The banker went ahead and sent his men
out to throw diamond all over the place and then lent the
prospectors the money to develop the find. The prospectors
were caught and in big trouble when a cut diamond turned up
in the sluice box. Yet they made an actual primary diamond discovery.

Unless there is tight security every step of the way diamond
can be easily added to the mix.

over and out - aj
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