Hi Kidred,

We've been around the block a few times discussing pretty much all the issues regarding the SRC retest, hematite etc, including in-depth and enlightened commentary from AKdude. However, at this stage, all we have to go on is speculation, opinion and guesses until the SRC and de Beers results are released.

While I am not counting on a huge amount of diamonds from the SRC retest, we stand a good chance of seeing some more stones liberated from the the crush and the effects of the hematite at all stages in the diamond sorting process. The 12mm crush was pretty coarse, so there could be some fairly large diamonds there. Who knows? Still, prudence tells me not to expect earth shattering results and this, at least will temper our disappointment.

We must put the SRC and De Beers results to bed before we can move on to the core results and determining how they fit into the bigger picture. However, irrespective of what these results may be, the cores that are being extracted now are of great importance and interest, from the point of view that they will give us the first clear insight into what lies elsewhere in the deposit. IMO, these cores are too important not to go for caustic dissolution and will be vital to determine where the next bulk sample is taken from. That is not to say that Snowfield should extract the kimberlite where there are most diamonds in the cores, but where there is a representative zone with an average diamond population.

Obviously, cash is paramount right now and this is probably dictating in what order the lab work is done and the timing. Again, from this stand point, the company must get past the SRC and De Beers results in order to establish the s/p for negotiations with Mineralfields and any further PP's.

If you are long on Snowfield, I still think that there is good upside potential from the Ticho project as a whole. The prospect of finding more kimberlite bodies on the property or finding more diamonds elsewhere in the Mud Lake kimberlite complex offer a great deal of good upside potential. The key is to have patience while the current situation unfolds and the company can move on with more knowledge and experience under its arm.

Anyway, those are my thoughts...

Good luck to all.

peterjr