Diamond Fields International Ltd. (DFI.T) Message Board

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Gold/Mining/Energy : Diamond Fields International Ltd. (DFI.T)

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To: Greg Ehman who wrote (19)	4/19/1999 3:49:00 PM
From: John Thomas	of 141

Greg, I saw that this morning, Looks like they will have plenty of cash! Did you see this last week from Namibian Minerals earnings report, this is the claim that is next to Diamond Fields and considered to be inferior. "Since the start of operation last year, diamond production has consistently exceeded expectations based on the original resource grade estimates derived from the sampling programme results. Review of production data indicates that the resource potential of the deposit has been underestimated. The Company has therefore increased its production target for 1999 from 150,000 carats to 200,000 carats. The revised target takes account of further exploration and a planned two month port call in the third quarter for vessel classification, routine maintenance and operational enhancements. According to Marine & Coastal Geo-Consultants, two main factors contributed to the underestimation of the deposit's potential. The original grade calculation method was based on 10 sq.m. point sampling results but for geostatistical estimation purposes did not incorporate the grades of the larger sized 100 sq.m. bulk samples, which were significantly higher. Secondly, the technical limitations of the Namrod sampling tool did not enable a second layer of mineralisation in Feature 019 to be fully sampled. The NamSSol mining system is able to mine both of the mineralised layers. Mining experience indicates that these layers are common in the area mined to date, but the extent has not been defined. The average diamond size of 0.33 carats was in line with expectations derived from sampling data. The stone size ranged from 0.1 - 10.3 carats. Operational performance of the NamSSol mining system continued to meet expectations. A total of 242,170 carats have been mined since the start of operation in April 1998. This result firmly establishes the Company's expertise in marine diamond mining and the quality of its resource." That is a 33% increase. Looks like a $1.50 - $2.00 by year end. IMO John

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