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

To: brit2 who wrote (4748)	11/21/2006 1:27:44 PM
From: Chas.	Read Replies (2) \| Respond to of 16206

The basic overview of the JV agreement is posted at the MPV website as well as Bloomfield posted it here a number of post's ago......... Why would anyone want to buyout MPV anyway....they are captive to DeBeers.....DeBeers has the marketing rights to the diamonds.

To: brit2 who wrote (4748)	11/21/2006 2:05:09 PM
From: Bloomfield	Read Replies (2) \| Respond to of 16206

Brit, No one has a copy of the JV Agreement, because it has never been released to the public. Last year I checked all Sedar entries dating back to 1997 and found nothing. Also, the Joint Venture Agreement may actually be a series of binding contracts, not just a solitary document. Information contained within the Agreement is described in the the 2006 Annual Report (and previous ARs) in the notes to the financial statements, section 6a, entitled "Mineral properties and deferred exploration; Gahcho Kue property". That's all we have. The mandatory 10% fee De Beers charges MPV and CFV to market their share of the diamonds, has never been expressly disclosed by MPV, just indirectly alluded to. The only reference I have found to this arrangement is in a news release dated Dec 18, 2001, which was also referred to in the 2002 Annual Report. At the beginning of paragraph 3 it states, “De Beers has recently changed the way diamond values are reported to the Company to make them comparable to the values reported by other Canadian mining companies. To compare the 1999 and the current values, 10% has to be added to the 1999 values…” Brit, if you still want to view the original agreement in it's entirety, you would need to contact the Company, and see if they might be willing to release these documents for general inspection by the public. Good Luck, B