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Gold/Mining/Energy : Winspear Resources
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To: Rocket Red who wrote (13377)1/26/1999 8:20:00 PM
From: E. Charters  Read Replies (1) of 26850
 
The value of NWT diamonds has always troubled me. DeBeers is the buyer and the grader through the CSO.

NWT pipes are small and extremely high caratage. They also grade high in gems. The diamonds that I have seen are of unusually high quality. Clear, unpitted, no inclusions. Usually VVSI. But the valuations coming back of 3 carat pipes are low. 60 to 70 a Carat. Is this because of the small sample sizes, large micro counts or skewed valuation?

I don't trust DeBeers and nobody else does either.

The South Africans would operate a pipe that ran 12 carats per hundred tons. 0.23 was the average caratage per tonne of their mines. Yet they always reported $150 US a carat valuation or at least 100 a carat and 40% to 70% gem diamonds. Since the predominant diamond was white coming from a SA mine that became the standard of quality. Clear, colourless etc..

When Debeers went into Russia they told the Russians that they had no diamonds when they showed them their pyrope chemistry. When they showed them the pipes they told them they had no quality. When they showed the world their gems the Africans bought them.

But we are dealing with a cartel here. If we sell outside it if the hose us then they will collapse and so will we. Before Oppenheimer the price swings in diamonds were so wild that all kinds of operators were forced out of business.

EC<:-}
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