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

To: Chas. who wrote (2661)	3/14/2005 7:20:49 AM
From: james flannigan	Read Replies (1) \| Respond to of 16206

MPV takeover,IMO will happen soon after the FS.Debeers needs the gems from GK.With the slow permitting process in Canada,they will want to get it started sooner rather that later.Debeers have invested a $100 million on this project to date,its time to get a return date planed for this investment.Investors must understand that MPV shareholders are carried.This is an advantage over most other JVs such as KRT.This alone puts MPV in a strong position at the table.In other words if Debeers wants GK diamonds,they have to do all the work to get their 60%.If they want our 40% of the GK diamonds they will have to pay a fair price.If they choose not to put GK into production,MPV and CFV gain 70% and the control of the project.We are free to talk to other suitors to sell our 70%.In any case this is a win win situation for MPV and CFV.There is no other outcomes other than the three I have laid out,short of a take out by Aber. James