LAYFIELD RESSOURCES (LAY-VSE) Message Board

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Gold/Mining/Energy : LAYFIELD RESSOURCES (LAY-VSE)

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To: John Fairchild who wrote (457)	12/19/1998 7:05:00 PM
From: John Fairchild	Read Replies (1) of 528

I have been trying to get a handle on the drilling by LAY so far. What I am assuming is that any new kimberlite discovery starting with 98 are those identified from the new areomagnetic survey. The new cluster of 13 magnet anomalies of which 98-83 was the first hole to test and hit kimberlite. Half of this cluster appears to be on one of the new license applications (directly north of Middlepits). Question - Have any of the other anomalies in this cluster been tested and has the new license applications been granted? 98-96 and 98-97 both hit which are close to MW5 (furthest holes to the south west and closest to Middlepits. 94-01A is the furthest south. 94-71 and 94-03 are the closest to 94-06 and 94-73. A statement is made in the summary of the Molopo property report: "It is interesting as well that the three best kimberlites in terms of md counts discovered by SAMC, 94-38, 94-06 and 94-73, are closest to the diamondiferous gravels at Middlepits." Note that 94-06 and 94-73 are not part of the Contiki option. My question is what were the results from previous drill holes on 94-06 and 94-73. The Contiki "relative surface area of kimberlites" diagram shows 94-38 as potentially 40 cpht. I have not talked to Layfield yet but I plan to probably in the new year. If anyone has these answers please share. Again I see the current price as as great buying opportunity and I hope to pick up some more before the year is out. The last NR says that results should be out early in January. I think that is a good time for an NR. One thing for sure LAY has potential for a good move on any future news. Results from resent 6 kim discoveries plus discovery of kim from TKI. Also if results are good maybe we see some new JV's. The deal LAY made with TKI looks pretty good to me. TKI sub option calls for TKI to foot $4.5 mil in exploration and issue LAY 1 mil shares for their earn in. That pretty much takes care of LAY $5 mil to earn in all the remaining optioned licenses. Also if results are good on the current programs LAY would be attractive for JV's on their 100 % properties especially the new license application where the new cluster has been found. Lots of potential here with lots of future news. Buying at the current price it is a no brainer. Got to go - Party time. John :-)

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