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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: james flannigan who wrote (12135)	1/16/1999 10:57:00 AM
From: MrsNose	Read Replies (1) \| Respond to of 26850

The various physical characteristics exhibited by the three large gem diamonds (10.82, 8.42, and 6.04 carats) recovered from the kimberlite are completely consistent with those observed in smaller stones from all size fractions. Would this help? Shows consistancy throughout the sample. Margie

To: james flannigan who wrote (12135)	1/16/1999 11:05:00 AM
From: Gord Bolton	Read Replies (2) \| Respond to of 26850

I do not think that the Salting theory was Kaisers theory. You might want to ask Eric Charters where that theory came from. I think that has been totally discounted by everyone at this point. If you read carefully, I think that you will find that given the amount of diamonds in the samples, the quality of the diamonds and the size distribution, the large stones are not out of place at all. A larger size sample will give a better statistical indication of the percentage of large stones to expect. What Winspear has said is that even if you totally discounted the three large stones the ore would still be worth $140.00 per tonne Canadian. That would be very profitable to mine on it's own. The large stones are all gravy, icing on the cake or free profit. They may represent 75% of the total value. Or in other words $140.00 Canadian X 3 per tonne. Aber NR August 1998 Looks like about 26.7 million tonnes, 3.7 carats per tonne, $56.00 U.S. per tonne. "Reserve Estimates ----------------- Updated reserve figures utilizing the updated resources will be completed with the revised estimates of capital and operating costs and other factors being assessed in the feasibility study. The estimated proven and probable reserves from the prefeasibility are 26.7 million tonnes grading 3.9 carats per tonne undiluted. Diluted reserves are estimated to be 27.7 million tonnes at an average grade of 3.7 carats per tonne. The estimated reserves are based on a number of prefeasibility level estimates of capital and operating costs, economic mining, metallurgical, legal, environmental, social and government factors which have been assessed to a prefeasibility level. Valuations ---------- June 1998 valuations on the A154S and A418 diamonds by 12 diamantaires confirmed the earlier price estimates for A154S at US$63 and for A418 at US$56. The diamantaires were selected for their expertise in specific segments of the diamond market. Marketing costs were not assessed in the valuations. The average diamond price estimate of US$56 per carat for all pipes (an average weighted by the mineable carats in each pipe) was used in the prefeasibility level reserve estimate. The 1997 diamond price estimates for the A418 and A154S kimberlite pipes were obtained by independent Antwerp diamantaires, through the valuation of 21,075 carats of diamonds from bulk samples. Price estimates for A154N and A21 kimberlite pipes were obtained by valuation of small parcels of diamonds from large diameter core drilling by Argyle Diamonds."