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Gold/Mining/Energy : Winspear Resources
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To: Sam who wrote (19031)5/4/1999 10:32:00 AM
From: teevee  Read Replies (2) of 26850
 
Sam,
I sure hope Winspear doesn't find a big diamond worth $3 million(about $16,000.00 per carat)....that alone would add $500.00 per tonne implied value to the 6000 tonne bulk sample.....and over and above the value for the 5-30 carat stones that will show up.....tsk tsk...what will the news letter writers say?.....it could be far worse than imagined.....what if the percentage of gem quality is as good as at the Bellsbank mine at greater than 95% gem?.......for discussion purposes, say about 4.4% of the weight recovered exceeds 4 carats in size(we know that about 30% of total weight is represented by the >1 carat size range-so about 25% by weight of the diamond recoverd will be comprised of diamond between 1 to 4 carats in size-I have ignored value for this size fraction).....that is about 396 carats expected to be recovered from the 6000 tonne bulk(grade of say 1.5 carats per tonne)......assuming the 5-30 carat size range averages about $5,000.00 per carat at 95% gem, that by itself would represent $US313.50 implied value per tonne for the entire bulk sample....I suspect that not only would the chorus of naysayers be crying that Winspear got lucky again, but that an immediate investigation into wrong doing should be undertaken:-)
regards,
teevee
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