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

To: Chas. who wrote (2631)	3/13/2005 11:18:15 AM
From: WillP	Respond to of 16206

Hi Will, you have set it out in a very straight forward manner...I dont see any potential bidding war, the economics dont show a potential for it. That's my perception. I can see a friendly offer, but it would have to meet De Beers's IRR requirement -- whatever that really is -- as well as satisfy Mountain Province's leading shareholders. That could be tough. ((However, there may be a propensity for large carat, high value diamonds in that ore...only DeBeers knows for sure...)) Yes, there is, based on a few finds so far. Still, any offer by a public company will have to be presented to that company's board based on what is published about the project, not some speculation. Fiduciary responsibility and all that, not to mention future difficulties in getting insurance, should the move be a big bust. A few people speculate that De Beers would rethink Snap Lake had they the right to a do-over. I agree with you that the FS remains as a very important "priority setter" for the GK resource. As all of them are. Conservative projections are wise. Remember the flack when the Diavik feasibility upped the cost estimates considerably? Well, they look pretty good today. I personally believe the GK will eventually be a DeBeers mine. So do I. When and how are the biggest questions. The FS just may determine when.... ...and how. also ...the FS will be a 100 page study that says one thing and the DeBeers 1 page spin on that report may be something entirely different....eh It will be interesting. There are lessons to be had from Victor, perhaps. Regards, WillP