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

To: Sam who wrote (15008)	2/20/1999 10:34:00 AM
From: Gord Bolton	Read Replies (2) \| Respond to of 26850

Welcome home Sam. Sounds like you had a good trip. Coloured stones. Cut from July, 97 News Release. A.Grade: The weighted average grade of the thirteen intersections has been calculated as follows: Macro diamonds (one dimension >0.5mm) = 3.69 carats per tonne B.Colour: The colour of recovered diamonds is as follows: - White = 43.7% - Off-white = 3.2 - Grey = 1.0 - Yellow = 39.2 - Off-Yellow = 1.5 - Amber = 7.2 - Brown = 0.5 - Green = 2.7 - Pink = 1.0 C.Clarity: Diamonds from the kimberlite intersections have been described as follows: - Transparent = 87.8% - Translucent = 11.7% - Opaque = 0.5% All yellow diamonds have been verified as natural diamonds using Raman spectrometry by the Surface Science Department, University of Western Ontario. These results were independently corroborated by Lakefield Research Limited's personnel and by Winspear's Senior Mineralogist. I would comment at the outset that everything that follows is my own speculation, however, Winspear has indicated on several occasions that they is consistency of results from samples across the dyke. All indications so far are that Winspear has good grades and high quality stones. The high valuation attributed to the Winspear stones has been both fodder for jubilation and caution by different folks. The question is what can we predict from the information available so far? And how will we interpret the information supplied by the Bulk Sample. 87.8% of the stones reported early on were transparent. This is very good. The stones from the later mini-bulk were described as clear with no inclusions. This is very positive and was somewhat predictable based upon the earlier results. 43.7% of the stones are described as white and probably about 90% or more of those would by top quality clear white. A very small percentage 3.2% are described as off white. 39.2% are described as yellow and again a very high percentage would be clear yellow transparent stones. I would interpret this to indicate that these stones may fall into the category of "fancy" yellow and they may be valued as highly or even more highly than the clear white stones. This is very good and very promising. Only 1.5% fall into the off yellow category. It is the sort of inbetween stones that are not ascribed a high value. 7.2% are described as amber. I am not entirely sure what to think of this category. Valuations could be highly subjective depending on the individual stone and the taste of the person evaluating. These , along with the browns and greys would be most likely to be translucent or opaque. Browns and greys account for a very small percentage. Significantly from the very small sample taken there were 2.7% green and 1.0% pink stones. Pink and green stones can bring fantastic prices at auction and that is about the only way to ascribe a value to them. If these percentages were to hold true for larger samples and production Winspear could have the hogs share of the most lucrative sector of diamond production in the world. I posted the cut from the SUF site because of the significance of the fact that 1 pink diamond accounted for 50% of the total value of the diamonds mined at that particular site. Talk about "scewed" results but that is the reality in the diamond mining business. The one large pink stone sold for $20 million dollars. A 1 carat pink can be very valuable. I the bulk samples yeild 10,000 carats we may expect 100 carats of pink diamonds and 270 carats of green diamonds. Bulk sampling could prove to be very lucrative. If you look closely at the Winspear home page and pay particular attention to the little cup full of diamonds you will notice that the yellows seem to be a very bright yellow and the whites are a very clear white-admittedly hard to tell on a computer screen but that is what the numbers are indicating as well. I would think that this is what has many people very excited about Winspear. Some people do not understand the implications of what has already been indicated. Have a good weekend Winspearians. The excitement has only just begun.