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Gold/Mining/Energy : Diamond Fields International Ltd. (DFI.T) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Ehman who wrote (19)	4/19/1999 3:49:00 PM
From: John Thomas	Respond to of 141

Greg, I saw that this morning, Looks like they will have plenty of cash! Did you see this last week from Namibian Minerals earnings report, this is the claim that is next to Diamond Fields and considered to be inferior. "Since the start of operation last year, diamond production has consistently exceeded expectations based on the original resource grade estimates derived from the sampling programme results. Review of production data indicates that the resource potential of the deposit has been underestimated. The Company has therefore increased its production target for 1999 from 150,000 carats to 200,000 carats. The revised target takes account of further exploration and a planned two month port call in the third quarter for vessel classification, routine maintenance and operational enhancements. According to Marine & Coastal Geo-Consultants, two main factors contributed to the underestimation of the deposit's potential. The original grade calculation method was based on 10 sq.m. point sampling results but for geostatistical estimation purposes did not incorporate the grades of the larger sized 100 sq.m. bulk samples, which were significantly higher. Secondly, the technical limitations of the Namrod sampling tool did not enable a second layer of mineralisation in Feature 019 to be fully sampled. The NamSSol mining system is able to mine both of the mineralised layers. Mining experience indicates that these layers are common in the area mined to date, but the extent has not been defined. The average diamond size of 0.33 carats was in line with expectations derived from sampling data. The stone size ranged from 0.1 - 10.3 carats. Operational performance of the NamSSol mining system continued to meet expectations. A total of 242,170 carats have been mined since the start of operation in April 1998. This result firmly establishes the Company's expertise in marine diamond mining and the quality of its resource." That is a 33% increase. Looks like a $1.50 - $2.00 by year end. IMO John

To: Greg Ehman who wrote (19)	5/10/1999 2:12:00 PM
From: John Thomas	Respond to of 141

NEXT DOOR KEEPS GETTING BIGGER!!!!!!!!!!!!! Namibian Minerals Corporation Announces Threefold Increase in Measured and Indicated Diamond Resources in Its Luderitz Bay Mining Licence PR Newswire - May 10, 1999 10:08 LONDON, May 10 /PRNewswire/ -- The following was issued today by Namibian Minerals Corporation (Nasdaq: NMCOF; Toronto: NMR; Namibian: NMC): Namibian Minerals Corporation (NAMCO) is pleased to announce that following a review of its mining results the Measured and Indicated component of its diamond resources in Features 019 and 020, Luderitz Bay Mining Licence, have increased threefold from 292,000 carats to 1,155,000 carats (measured -- 836,000 carats; indicated -- 319,000 carats). Since the start of operation in April 1998, production results in Feature 019 have significantly exceeded expectations based on grade estimates originally calculated from sampling. Independent geological consultants Marine & Coastal Geo-Consultants were commissioned to re-assess mining resource potential in Features 019 and adjoining Feature 020. Three factors were cited as influencing the upgraded resource estimation. Firstly, the original resource calculation method used 10 sq.m. point sampling results. For geostatistical modeling purposes, the significantly higher grades encountered in the three larger 100 sq.m. bulk samples were not incorporated in the calculation. Secondly, the technical limitations of the Namrod sampling tool did not enable the two layers of mineralisation in Feature 019 to be fully sampled. The second mineralised layer has been widely encountered in the area mined to date. Thirdly, mining results have confirmed a consistent pattern of strong geological control in the grade distribution in Feature 019. A summary comparison of original and revised resource estimates of the total carats in the Measured, Indicated and Inferred Categories are as follows(1): Category Original Total Carats 1996 Revised Total Carats 1999 Measured 261,484 836,000 Indicated 30,200 319,000 Inferred 2,362,000 1,645,000 (1) The 1999 inferred resource category includes 9000 carats and 464,000 carats in Features 011 and 018 respectively in Luderitz Bay Mining Licence and 406,000 carats and 82,000 carats in Features 022 and 012 respectively in Hottentot Bay Grant, Namibia. These estimates have not been re-assessed. The estimates have been determined using a cut-off grade of 0.1 carats/sq.m. Based on the revised grade model, all of the original resource in the Inferred category of Feature 019 has been upgraded to the equivalent of the Measured and Indicated category. The resource estimates were compiled by Marine & Coastal Geo-Consultants cc (Senior Author and Qualified Person: M. W. Woodborne, M.Sc., Pr.Sci.Nat.) based on mining and sampling data provided by the Company and using the resource definitions provided in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC Code). The revised model and estimates have been based on reasonable assumptions and rigorous technical evaluation of available information. A description of these assumptions and evaluation together with the geological environment and relevant regulatory systems of the Luderitz Bay Mining Licence are contained in the Company's Annual Information Form dated 30 April 1999. Marine & Coastal actively participated in the sampling operations and have confirmed that the recoding of sampling results was undertaken in a rigorous and competent manner. Exploration and further resource delineation remain high priority targets for the Company. During the quarter, a three week trial mining programme was conducted in its Hottentot Bay Grant using the NamSSol mining system. Further exploration is planned in 2000 to replenish and increase the Company's diamond resources. Chairman of Namco Alastair Holberton said, "Our mining experience is confirming the exceptional quality of our Luderitz discovery and reinforces our belief in the further potential of our Namibian concessions." FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF NAMIBIAN MINERALS CORPORATION J. A. Holberton Chairman & Chief Executive Officer