Hi, Boz
The article also credits Aber's Gren Thomas with staking the Diavik property when, in actuality, he hired Chris Jennings to stake the most promising lands in the vicinity of DiaMet's claims.
An inset entitled, "Cheapest diamonds in the world"? lists the following stocks as attractive:
Aber, DiamondWorks, Dia Met, and SouthernEra. The inset shows DiamondWorks cost per carat at $77 with an average value per carat in the ground of $170. Their recent price ($.26) is the most interesting of them all as compared to 1999 EPS at $.14. It appears to be very undervalued, but then I don't believe they have much in the way of assets outside of Angola.
Also of interest was a photo of the Ekati mine headquarters with the caption, "Enough rocks each day for 10,000 rings."
The Forbes piece is, I think, the final piece of evidence the Canadian diamond story has been validated by the stuffy old line of traditional money managers. For us, however, it does not include much we did not already know. As an investor in this segment, I am grateful for the Forbes piece as it is something which gives broad exposure to a story not otherwise followed in the US.
VP |
