RE: Future diamond supply for HW...Ijonest1: OT
I own
HW,
MPV and this junior called
GGL Resources (GGL),,, If Harry Winston is looking to gain future diamond supplies from Mountain Province Diamonds then "GGL's Gahcho Kue Leases may be of interest as well " ?
Kinross / Harry Winstonserious about acquiring other near-production diamond assets!!
We think the whole created by summing the Harry Winston, Mountain Province & GGL leases is worth a lot more than the sum of the parts.
RAY MAKES POINT OF GGL's ""joint venture with De Beers, remains in force!"" For Good Reason !! (sept 09)
The joint venture with De Beers, adjacent to the Mountain Province/De Beers diamond deposits, remains in force.""
GGL, Doyle Leases, De Beers 60%, GGL 40% (carried interest)
In mid 2004, De Beers, as operator of the joint venture,elected to take to lease and retain in the joint venture
a portion of the original Doyle project properties: the LA-4 to LA-9 claims inclusive and the fractional claims
Extra 2 to Extra 4 inclusive. (the “Doyle Leases”). The Doyle Leases adjoin ground held by the joint venture between De Beers and Mountain Province Diamonds Inc. (the “De Beers/MPV joint venture”) and the Hearne kimberlite pipe, one of the potentially commercial diamond pipes being evaluated by the De Beers/MPV joint venture, lies within 150 metres of the northern boundary of the De Beers/GGL properties.
To date, geophysical surveys, including recent ground gravity surveys conducted by De Beers, have identified five target areas on the De Beers/GGL joint venture leases. Forty percent of the extensive ground
gravity survey initiated by De Beers remains to be completed.
.
GGL has recently submitted to De Beers a 2005 exploration plan and budget for the Doyle Leases with the
request that De Beers, as operator of the joint venture, implement this exploration plan. Should De Beers
decline to carry out a meaningful exploration program on the Doyle Leases, it is GGL’s position that the
Doyle Leases should be returned to GGL.
GGL is aware that De Beers seeks the co-operation of GGL with respect to the acquisition by the De
Beers/MPV joint venture of certain surface rights to the Doyle Leases along its boundary with the De
Beers/MPV joint venture ground.GGL has indicated that it is prepared to give such co-operation to the
extent it doesn’t prejudice any development on the Doyle Leases.
The Company is expecting to discuss these issues with De Beers in the near future.
.
GGL Holdings in Doyle Area With Pipes and Areas of Interest
.
Would a 40% carried interest in the LA-5-9 Leases be worth more to Harry Winston then GGL if they take up Mountain Province ?
I did read $15 - $20 mill !!
Marine2