AGM Update 2 FYIThis is George Read's presentation with a couple of add-ons
George Read’s Presentation
- diamond mines were shut down , big mines as well , due to world production cuts
- Canada has $2.4 billion in diamond mining, major player now
- some of the plays listed on the new chart will not make it to a mine
- evaluation of huge Falc kims is very complex, hence core drilling, LDD, Bulk samples
- Shore is very , very confident in the techniques they are using
- terabytes of data compiled so far
- inner EJF priority since it is the best
- Reconciliation – to account for the losses
- very complicated procedure required a lot of time by Peter and George
JV- 2 open pits , 1 processing facility for Star and OS.
- EJF was target unit on OS
-again, inner high grade EJF very interesting , very confident in this zone
Orion North – inner EJF , different morphology , more homogeneous
- huge amount of EJF in ON goes down to more than 350 m.
- project proposal on website
- Taurus LDD’s imminent
- OS resource soon ( mid 09 ) confident they will meet that timeline
- completion of Star reserve 3rd quarter of this year
- end of Q1 2010 for completion of production estimate and feas. For Star
Burn rate down a lot, cash position considered healthy
Joe Dixon claims it is enough to get them through to Q1 2011.
Possibility of more money coming back from Coventry and ABCP loss