TORONTO (miningweekly.com) – Diamond explorer Vaaldiam Mining said on Thursday it would cost $25-million to build its Brazilian Brauna 3 (B3) project, which would produce at total of 573 000 to 839 000 carats over a five-year life.
According to a preliminary assessment by consultancy Coffee Mining, the B3 kimberlite had a net present value of $33,6-million.
Vaaldiam, which bought back control of the Brauna prospects in eastern Brazil from a group of unnamed Belgian diamantaires for $6,5-million last month, has a market capitalisation of C$19-million.
“This preliminary assessment confirms our belief that B3 is a low cost, high return kimberlite diamond project that compares extremely well with high cost development projects in Canada, for example,” CEO Robert Jackson said.
The study did not include any of the other know kimberlites at the Brauna property.
“We believe that this initial B3 openpit is only the beginning and that there is significant blue sky potential at the other nearby kimberlites and at depth at B3,” Jackson added.
Last month, he told Mining Weekly Online that Vaaldiam aimed to start production at the project, which De Beers used to own, within two to three years.
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so why is it not reflected in the share price???
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link https://www.miningweekly.com/article/vaaldiam-makes-progress-at-brazil-gem-project-2011-04-07