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Gold/Mining/Energy : RED EMERALD RESOURCES

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To: hugh thorne who wrote (132)	10/9/1998 9:03:00 AM
From: hugh thorne	Read Replies (1) of 862

There was an excellant article in the Globe on the 9th about the canadian diamond mines coming on line in the next month or so. The market has suffered from the world turmoil however it should still be in the 3.5 billion range for 1999. The cdn diamond mine is expected to produce something like 10,000 carets per month (or week ?), either way it is a huge volume relative to the total annual projection for this project of 50,000 carets per year. Put in dollar terms, this project is looking at, say, $120 million per year in retail value sales(50,000 times $2,500/c retail) whereas the total retail diamond market is some 3.5 billion. This distills to a mere 3% of the total retail diamond market: a target which imo is quite humble.

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