Vaaldiam Mining Inc VAALF

RE: VAA - 430,000 carats

[Dragonflyinvest]

Can they make money? Don't know the costs -no blasting, milling, or leaching - maybe higher manual labor involved - emailing coy today for details. Do I have this right? $1.00 in revenues per share, each year for the next ten years? "Vaaldiam’s Brazilian partner in the venture, Mineração Marly Ltda. (25% interest) acquired the mineral rights to the Property in 2001, ... During the period January to November 2002, Marly excavated and processed a 4,263 cubic metre bulk sample of alluvial gravel from the central portion of the deposit, which yielded 1,108.34 carats of diamonds, suggesting a recovered grade of 0.26 carats per cubic metre. According to Marly’s sales receipts, these diamonds were sold during 2002 in 12 separate parcels for total proceeds of US$246,346, suggesting an average sales value of US$222 per carat. Individual diamonds ranging in size from 0.15 to 7.41 carats were recovered during this period. Coarse free gold was also recovered during the processing of the bulk sample, with a reported 24.5 ounces of gold being sold by Marly during 2002." This indicates a total of $95M in diamonds. The company is estimating at least ten years at an annual production rate of 38,000 to 40,000 carats. This would give revenues of approx. $8.5M per year or about $1.00 per share!