Hello Paul
No, I do not have any inside information. My focus on the Yamba Lake claims potential is strictly to do with percentages. On the face of it, Yamba may have roughly 45 possible pipes while Back Lake, based on published information, may have 3. One in Munn and possibly two in Margaret.
While the Munn and to a lessor extent Margaret lake geochemistry is exceptional by any standard, and probably sourced from highly diamondiferous kimberlites, the odds suggest that for there to be a significant mine, all three of these kimberlites would probably have to be pipes of at least 2 to 3 hectares.
In terms of odds or percentages, it would be unusual to find three pipes on a property which has consistently produced dikes up until now, all three of which are large enough and diamondiferous enough and close enough to shore to be economic to mine.
Additionally, based on SUF's NR, the Munn Lake kimberlite could be a pipe, but it could have a width as low as 25m and as wide as 198m based on the 100m sonic drilling grid used. If it is a pipe 105m x 25m it would probably be about .3 hectares in size. On the other hand, it is mathematically possible that it is 198m x at least 105m which would make it a 2 hectare pipe. Given the possible eventual establishment of the larger option, it would probably still have to be a pipe of a value per tonne higher than A-21 before it would be economic to mine.
Perhaps, if two economic pipes of 3-4 hectares were found in Margaret Lake it might be economic to mine a smaller high value pipe in Munn Lake as well, but again, I suspect the odds are against that possibility.
Of course, if the Munn Lake kimberlite is a dike either continuously 25m wide or +2m with a 25m wide blow, it would also have to have to be several km in length beyond the suggested initial 105m for it to be economic to mine.
So I return to the issue of probability. Back Lake may prove to have truly exceptional kimberlites in the form of three pipes but the odds do not favour this possibility and while there may yet be other pipes to be found, recent releases do not suggest their existence.
I am not saying that Back Lake is a bust, not by any means. I am simply suggesting that I prefer the odds of finding three or more economic pipes among 45 targets within 80km of Lac de Gras than I do finding them amongst three targets, 250km from Lac de Gras when one of the three appears to be of limited size and may not be a pipe.
I of course could be totally wrong!
Frankly, I hope that I am not, but rather adequate ore of sufficient value is found on both the Back Lake and the Yamba Lake claims to warrant mine development.
KLA would do much better price wise if SUF was successful in both locations and of course WSP were successful in finding their pipe(s). The market attention would be to everyone's advantage.
Certainly, the prudent thing to do would be to take your initial investment off the table just in case.
Regards and Good Luck
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