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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Oil who wrote (1018)	11/16/1998 8:26:00 PM
From: Leigh McBain	Read Replies (2) \| Respond to of 2514

Jesse, thanks for your post of Rick's comments. You realize of course that the hard nosed nay-sayers will still suggest that no matter how much sense his remarks make, he is somehow working to cover the tracks of a failed program. I don't believe that to be the case, but history suggests we will hear that response. So far I am still here (although as a Micrex shareholder) and am, for the most part, willing to bite off on the explanations and reasoning being offered for what has or has not been found. As well as for the methodology being used to advance the project. There is no doubt that money plays a part in the methods being used, this is just fact not a fault. As for the concept of overburden, I have no argument whatsoever that overburden can play a significant role in the cost of the mining and should be "1" factor, amidst many, when defining targets. Keep in mind however that the return on a diamond mine has the potential to be VERY substantial and the overburden should NOT be the primary determining factor as to why an area is staked. Given similar quality targets, it certainly makes sense to focus on the lower overburden first, just not exclusively. I do not believe that that is what has happened here, however in reading some of the earlier posts, it could be misconstrued that way by a newcomer. This all really just comes back to the larger question of straight economics. This is NOT something that can be determined until the grade of diamonds being returned from the sampling is known. I have not heard anyone yet suggest that the lower levels of overburden directly correlate to higher diamond grades. If that is not the case then it is still really just the grade of the diamonds that determines economics. It certainly doesn't hurt to know what sort of costs would be incurred to strip the overburden, however, keep in mind that that is basically irrelevant until you have found something potentially worth mining. I make none of these points to be critical, just to help keep it all in perspective. Salut, Leigh McBain