RE: there is no more to say...VICTOR SNAP LAKE GAHCHO KUE
Annual production 0.6M 1.4M 3M
Gross Profit LOM $2.09B $1.34B $3.33B
Firstly, It appears that De Beers Canada Inc. has taken a soaking on Snap Lake; gee I really feel sorry for Nicky Oppemhiemer and all of those other rich people: I guess Winspear's stockholders got the last laugh there.
Secondly, It appears that Gahcho Kue is the undisputed flagship of De Beers Canada: carat/t1.48, Cost/tonne C$65, Cost/carat C$44, Revenue/carat C$114, Gross Profit US$3.33B. My calculations tell me that these numbers place the potential value of MPV somewhere up there in the mid-twenties.
Thirdly, De Beers is notorious for buying out its junior-venture partners so it is seems only a matter of time until they attempt a takeover of MPV a la Winspear. I do not have a crystal ball or anything but it is reasonable to assume that a buyout of MPV can probably be measured in months. A buyout of CFV is also forseeable.
Fourthly, if De Beers comehow wins the current court case, then it is forseeable that construction of the mine could be accelerated. The dykes are scheduled to be finished by 2011; GahCho Kue is scheduled to be commissioned in 2011 but mining the kimberlite is supposed to be well underway by 2010.