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Message: Mineralfields & Funding Issues

Re: Mineralfields & Funding Issues - Glass

posted on Apr 10, 2008 07:07AM

Glass, for an individual with such a critical analysis of current management, you don't seem to have the ability to do much better. Completing the 400 T is an important bit of information that must be accomplished if the 100T is shown to have diamonds.

First we need a valid testing process. Right now we don't have that, or at least any confidence in the current process.

If the test process is shown to be valid and that the location is barren, the drilling in other locations is most important, as the next bulk location needs to be determined.

If the 100T is shown to have a promising distribution of diamonds, developing a valid process for the entire bulk sample and determining the value of the kimberlite is most important. It will require even more than the 500T eventually, but the more that is tested the better the confidence in the distribution curve. Remember, Victor was a dud until they did 25,000T and found the big diamonds that make a mine feasible. With debeers offer to process the full 500T still out there, it would be foolish to not take advantage of it.

In my opinion, everyone has jumped to conclusions about this bulk sample. In the science of exploration, you must base decisions on valid data. The hematite has created a question about the validity of the data that is taking 6 weeks to answer. Let's get that answer before we go off in other directions.

If the bulk location shows good diamonds, the drilling that is being done in the interim needs to be done eventually to define the 43-101 extent of the resource, so I support the activity at this time. But if the bulk shows diamonds, the focus must return to the bulk sample and finding other kimberlite.

I fully support management's current strategy.

Ted

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