GREY:PGDIF - Post by User
Post by
Kidlapikon Apr 16, 2015 7:04pm
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Post# 23638464
NAR Qilalugaq Project
NAR Qilalugaq Project
As this is another Nunavut diamond project on the go thought I would look it over. I would not say it is a bad project but it didn't blow my hair back. They tout a grade of 0.54cpt in their inferred filing yet the first half of the bulk sample, 609 tonnes, yielded 190 carats for a grade of 0.31cpt. Could be another situation like PGD where the second half could bump it up but even at 0.54 they would need some incredible valuation to justify building a mine by Repulse. The purported size of the reserve is quite encouraging but the valuations are going to need to be spectacular, like $300-400/carat imo. Comparison: $100 per tonne open pit cost 0.5cpt at $400/carat value or $100 per tonne open pit cost 2.58cpt at $213/carat value