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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: PHILLIP FLOTOW who wrote (2296)	12/19/1998 1:52:00 PM
From: Valuepro	Read Replies (1) \| Respond to of 7235

Hi, Phil Fortunately the article you cite is about Ashton of Australia and not Ashton of Canada. De Beers and the CSO have been very successful in their campaigns to damage the Australian diamond market since they left the CSO about three/four years ago. Now Australia appears to be moving back into the De Beers/CSO camp. Canada will not be in the same position for the kind of treatment suffered by Australia. Austalian mines operates at a break even from the production of industrial stones. The numbers of occasional large and fancy stones provide their profit. Our mines in Canada will not likely be participating in the market for industrial grade stones as the yields of gem quality stones will be far higher. Further, since we are not coming from years of dealings with the CSO, they will have more difficulty in trying to restrict the flow of our production. Does anyone know if BHP has made a final decision about marketing NWT diamonds inside/outside of the CSO? That will likely set the course of action to be followed by the rest of the Canadian producers. Happy Holidays. VP