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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: gemsearcher who wrote (5097)	11/29/1999 12:23:00 PM
From: Goalie	Respond to of 7235

FYI - This from CBC Newsworld Online (www.newsworld.cbc.ca)this morning: Third diamond mine to be developed in N.W.T. WebPosted Mon Nov 29 08:52:32 1999 YELLOWKNIFE - The diamond boom continues in the North. Mineral testing at a site northwest of Yellowknife has Windspear Resources planning for Canada's third diamond mine. Samples from Snap Lake indicate one of the richest finds on the global scale, second only to Diavik -- another Northwest Territories site and the source of much business confidence. Windspear is confident it will get the go-ahead from Environment Canada to develop Snap Lake, 250 kilometres northwest of Yellowknife. The company has already applied for land use and water permits to start work, and has started purchasing supplies for the construction of the mine. Results from bulk samples taken last spring indicate a 20-million-tonne deposit of reserves. Project manager John McConnell says Windspear plans to spend $241 million. "We anticipate pre-production, open pit and underground development starting in January of 2002, construction of the plant and infrastructure starting in January with production beginning in July of 2002," McConnell told CBC News. Windspear estimates the company will earn back its initial investment six years after the mine goes into production. Regards. Goalie.