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Afri-Can Marine Minerals Corporation V.AFA



TSXV:AFA - Post by User

Comment by Tibberon May 15, 2007 4:18pm
608 Views
Post# 12785202

RE: AFA Status ...Miketapa

RE: AFA Status ...MiketapaAfter some serious headspinning and mind bending calculations, I've come up with the answer. It's 16.2 Million Carats .... and from the news release it looks like my math was right ... see below "Namdeb operated the following license areas: Atlantic 1, Bogenfels, Douglas Bay, Elizabeth Bay, Mining Area 1, and Orange River. Located in the Sperrgebiet (forbidden territory), these six areas cover a strip of land that runs from the north bank of the Orange River to 26 degrees South. The 130-km- long strip extends up to 65 km into the Atlantic Ocean and inland for 100 km. In 2000, Namdeb stripped 24.8 Mt of waste material and treated 23.5 Mt of ore from land-based operations to recover an average of 2.8 carats per 100 t valued at $322 per carat. Marine mining operations in Atlantic 1 were conducted by De Beers Marine Namibia (Debmarine), which was controlled by De Beers (70%) and Namdeb (30%). Debmarine maintained a fleet of four mining vessels and two prospecting vessels. Recovery from marine mining in the Atlantic 1 license area in 2000 amounted to 570,000 carats from material that averaged 2.8 carats per 100 t valued at $298 per carat. De Beers reported a remaining mine life of 20 years at current (2000) production rates that are based on probable total (land plus marine) reserves of 59.4 Mt at a grade of 1.5 carats per 100 t, indicated total resources of 73.6 Mt at a grade of 2.3 carats per 100 t, and inferred total resources of 301.7 Mt at a grade of 1.5 carats per 100 t for a combined reserves and resources of 16.2 million carats of diamond (De Beers Group, [undated], Namdeb—Operations, accessed August 6, 2001, at URL https://www.debeersgroup.com/operations/ minesNamdeb2000.asp)."
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