RE: GGLI have to agree with Bearfax on this one. Because they have a small drilling program commencing in August is no assurance whatsoever that they will find a kimberlite "pipe" deposit that is diamond bearing.
I watched this process with Winspear and after many false positives, they found something under Snap Lake which, from a mining perspective presented special challenges. They went ahead with the development after a lengthy environmental approval process because they really found something pretty significant. deBeers was standing around waiting for the miner with the best prospect to surface and then promptly bought the company for a song.
I have been watching junior miners on the VSE/TSV for years and the story is pretty much the same. They are all drilling for something but there is not a great chance that more than one in fifty will turn into something positive, IMHO.