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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: bill who wrote (255)	10/29/2002 9:07:38 AM
From: rdww	Respond to of 16206

I think the only companies that will benefit from Victor moving ahead are building companies. SPQ has property around the area, but the last work that DB did with them came up with base metals, so they won't have any help from Victor going into production (unles they pay a fee to drive on that $100MM rd DB wants to build). SPQ has other property in the area, but nothing as 'rich' as victor. Victor is, I think, the only economic pipe of the 18 found by DB there. Will p has suggested 40MM tonnes and a carat value of $154 US and DB says it's avg grade is 0.25 cpt. Where this info is useful IMO is in comparing the potential in Wawa for YPN BAN SPQ and CSI. There is quite easily more than 40MM tonnes on any one of those projects in Wawa and it's on surface. All the properties have the Trans Canada highway within a stones throw of them and it's a 15 minute drive in Wawa. There is already power into the area and it's a past producing gold community. Ther hasn't been any valuation of the carat values in Wawa, but they are all gems and when they are clear + colourless and some of the biggies in the diamond industry say thier nice, that's a good start. River Gold (RIV) blasts and hauls rock 2 kms for $4 per ton CDN and they say that the mill costs $12 per ton CDN for gold mining. Diamonds are cheaper to 'mill'. So far only Pele has thrown out an estimated grade and they have an independent calculation that says 30 cpht or 0.3cpt for thier limited work to date on Genesis. I think Victor is viable, DB is full steam ahead. They certainly know how to do thier homework. If Victor is viable up in the remote bogs of James Bay, how much more viable is a deposit that sits in the middle of an already developed infrastructure? !!!