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

To: james flannigan who wrote (1576)	11/12/2003 9:36:23 AM
From: WillP	Read Replies (2) \| Respond to of 16206

Frank,It is and always been my belief that The pipes on Kennady lake are much richer than we are being told.The clue was in the 9.9ct stone that was valued at US$60,000. Beliefs are just opinions, so you're certainly entitled to such an opinion. Personally, I think that the Kennady pips would perform better when in production. I'd like to address some facts however: Given the fact that Winspear took a ten thousand ton bulk sample and managed only one 9ct stone. Actually, Winspear came up with a 10-carat diamond in a 200-tonne test in 1998, along with another eight-carat and a six-carat stone. Those three stones were valued in excess of $50,000 (U.S.). Subsequently, Winspear completed a 6,000-tonne test, which produced nine more diamonds that weighed in excess of 10.8 carats, including two that weighed nearly 15 carats. Our bulk sample was 9Xs less ore and produced the highest ct value of any bulk sample in Canada.Ie)9.9 stone. Actually, the mini-bulk sampling at Kennady Lake processed nearly 4,500 tonnes in all. The Diavik bulk sample at A-154 south produced a 14-carat stone from less than 3,000 tonnes in the mid-1990s. You also have to be careful with mini-bulk stone sizes, as the initial crush prevents the recovery of large diamonds. This leads me to speculate that during production the deposit has a better than average chance to produce large stones wich in our case may raise the per ton value. It usually does, although it depends what the starting point is. It could be argued that including the value of the 9.9-carat stone unrealistically inflates the overall appraised value of the Kennady Lake diamonds -- much like the three top-quality stones at Snap Lake had inflated the value of the 200-tonne sample. By the way, what is the appraised value of the Kennady Lake diamond parcel? They've never revealed that, have they? While I believe that a Kennady Lake mine will outperform the De Beers estimate of modelled value, it's just not good mathematics to attempt to shoehorn the appraised value of a single valuable stone into an overall modelled grade that takes everything into account. That single stone needs to be assessed in terms of the appraised value of the entire parcel. Apples go to apples, and oranges report to the orange pile. As far as UBS butying all the stock your guess is about as good as mine,but they clearly want MPV stock. Seems that way. For every buyer, there is a seller, and there are a raft of houses willing to pass on their paper, no? The new sedi.ca site may have a few clues about which insiders are buying or selling. As for Debeers buyout,well it is getting more expensive by the week. The stock is getting more expensive by the week, yes. It would seem that they would be flushed out of the bush sooner rather than latter.MPV market cap=C$127M one would assume that, yes. But first, it requires one to assume that they are in the bush to begin with. As always, time will tell. Regards, WillP