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Politics : Gold and Silver Stocks and Related Commentary -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (6681)	2/17/2005 9:27:00 AM
From: seventh_son	Respond to of 18308

> In the US alone diamonds are a $13 billion business whereas all other gemstones combined account for $816 million. There is no comparison. The diamond vs gemstone argument is null. I wasn't meaning to imply at all that the Canadian gemstone industry would become anywhere near as large as the diamond industry or that it would be in any way comparably lucrative. I'm not making a diamond vs gemstone argument in that sense. I said that the rubies have potentially comparable value per carat in the deposit. They are comparable in the sense that they can make money and shouldn't be ignored by investors. In the early 90's many closed their minds to the idea that looking for diamonds or mining diamonds in Canada could be profitable; they were very wrong. The same situation exists for coloured gemstones, which now face the same kind of naysaying, apparently from yourself. An economic gemstone industry can grow in the north, at least to the extent that True North Gems (as the only company out there) can make some nice profits -- and make profits for their shareholders. The Chief Operating Officer of TGX told me and others that their Greenland rubies will change the world ruby industry significantly. Of course that industry is tiny compared to diamonds, but nevertheless this is very good news for a company that has a market cap of 10 million and the ruby property valued at maybe a third of that (without comparing it at all to Aber Diamond's market cap of 15 billion).