RE: Star IRR & NAVYou used 212 MT - considered the 'economic' part of the pipe. This is conservative, of course, because the LJF and MJF are NOT devoid of diamonds. In fact, I believe a 10 ct(?) came from the LJF one time, a long time ago. A few of those here and there in the remaining 64 MT's of 'waste' kimberlite will go a long ways to improving the numbers as well.
Note that the grade you use is .15 cpht. It has been proven at other diamond mines around the world that the grade goes up with mining, sometimes nearly 100%.
Also, the valuation you use is $170/ct. I think with supply/demand of diamonds the way it is, it is safe to say this number will only increase with time. And this number goes up with mining as well. The valuation number is always based on how well ALL diamond sizes are represented - meaning, if the parcel has a bunch of 1 ct, 2 ct, then skips to 5 ct, then 7 ct, then 12, etc., the 'holes' like 3 ct, 4 ct, 6 ct, etc go against the valuation number, knocking it down. As those holes fill in, the valuation number goes up. So it is quite safe to assume that $170 is very conservative.
Add in the fact that the Star is dwarfed by the Orion cluster, and the marketing rights haven't been factored in.
Owning Shore Gold becomes a no brainer.
Thanks for your fine work, Prigoni.