AFA I'd like some opinions on some numbers In sample testing stage 2 they recovered 21ct per 100m3 in the known resource area.In the next 6mths they plan to map more of block J and take 319 bulk samples at 10m3 each.If there previous grades continue NRs on samples should show 2cts per sample?In 2002 Debeers had 6 ships mining in the area and recovered 513,053cts,an average of 85,508cts per ship.In 2005 raw diamonds from the area sold for $350 per ct.Debeers cost to mine was $75 for a net profit of $275 per ct.If afa has 1 ship under contract and can recover anywhere near these numbers what whould the potential share price be?
I've been at this to long today but this is my first diamond play and am still fumbling around trying to find my way.
No wait it's the wine.
Please let me know if this makes sense or am I off track on this.
In any event I'm in for 40k shares And I don't buy anything unless I'm willing to play till the end of the game.
Chev