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Gold/Mining/Energy : Canabrava Diamond
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To: m.philli who wrote (1024)4/6/1999 12:12:00 PM
From: Ross Dickie  Read Replies (2) of 2402
 
Hi Mike and others. I spoke to CNB yesterday.

They confirmed that this News was coming today (which you already know about) One interesting note, they took 4 majors down to Brazil and all made offers to partner.

I asked about the other properties in Brazil. There is more to be announced, it sounded like another jv is still too be announced in Brazil. There are also plans to mine more alluvials on another of their Brazil properties. Apparently the existing alluvial plant and project should be up and running in about a week.

As for WAWA, it didn't sound like they were quite ready to annouce more info yet. Apparently they are just finishing staking more land. They said that they have "Fantastic Chemistry" in WAWA "second to none in the world". However they don't have diamonds in what samples they have take yet! (Or they weren't prepared to tell me that they do). They said that the have purposly kept things quite in WAWA because they wanted to stake as much land as possible and the less they said the less they alerted competitors to what they had. He did say that in the not too distant future they should be releasing their plans with Kennecott. I think we all knew this already anyways.

I know alot of this is vague, but getting details out of these guys is like pulling teeth, At one point they commented that they really don't care where the share price is, they know they have something and if they find and econiomic pipe next month or next year doesn't matter to them.
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