49 carat diamond found... no jokeNo... it is not on our Siku joint venture property... but it has to do with Artic Star Diamond...
Well, could it be that we are about to enter a new phase?
This news... you will not find... on SEDAR... if ever...
Did you know that we have signed on December 13 th of this year, an agreement with CICR... Mining Resources...
You want to know more ???
Ever heard of Mr. Bromley whose family was invested heavily in the mining industry of Africa?
No...???
He is no fool... Is a qualified civil and mechanical engineer... Worked in the corporate sector as a technical negotiator and strategist in corporations including Fortune 500 companies...
He also was the secretariat for the China Investment Council (Suite 683 Legendale Beijing, 90-92 Jinbao St, Dongcheng District Beijing, People's Republic of China 100005) as well as investment attaché for the Mongolian governement cabinet between 2002 and 2004.
What does it have to do with us???
Well... as of late... he was the principal and sole shareholder of CIC... That cie... is usually focused on bringing important mineral assets to production...
What... i told myself... Are we talking about bringing to production the second largest kimberlite in Ontario... next to the Victor mine?
Hey... there is a twist here...
CIC... on our behalf... will do what it takes... to 'recover' the assets of Global Diamond Resources PLC...
Hum...
What are we exactly talking about here???
Hey... could this be the 'money resources' needed to help us fund the U2 kimberlite project... as well as providing the funds for the Clyde Project?
As of late... July 13th 2009... Global Diamond Resources PLC had a 93% interest in the Kao Diamond Mine of Lesotho, South Africa. It has a confirmed resources to 600 meters with over 147 million tones of proven and probable reserves. A full report of the Kao Diamond Mine has been completed by SRK Consulting (UK), Ltd. SRK analysts have stated in their final report that "Kao has considerable upside potential and that it could turn into a world class deposit."
GDR had a commercial objective of producing a million carats per annum through its major kimberlite diamond operation at The Kao Diamond Mine and its alluvial operations in the DRC.
The Kao Diamond Mine (Pty) Ltd. was the largest of GDR's major diamond assets and was currently being developed in three stages.
So... with the help of Mr. Bromley... in exchange of a few shares...it looks like we will end up with 'huge' assets...
In 2007, the management figured that If you calculated the diamond founds at (US)$240/carat, (which the company reckons is very, very, conservative), then the Kao deposit was worth a tidy US$3.2bn. Kao was said to have resources of 185m tonnes grading 6.83 carats per hundred ton :) that does bring a smile to my lips... :)
Rio Tinto had agreed to be one of the diamond evaluation consultants for the project.
Why would we bother to acquire these assets... well, let's just remember that Mr. Bromley and Powers... used to work together... Hey the largest diamond recovered up to August 2008 weighed 49 Carats... That also brings a smile to my face...
A 3.1 carat diamond recovered from this operation (Kao Deposit) had been cut and polished in Antwerp to 0.6 and 0.7 carat stones. The average certified value of the 3.1 diamond was US$4,500 per carat when cut and polished.
I also found on MINEWEB that the latest resource statement for KAO.. 'included in the annual report is a current (2008) KDM resource statement, agreed with consultants SRK. It includes, at SRK's behest, the potential recoveries of diamonds from the overburden and the breccia zone at Kao. On this basis, there are measured resources of 29.91m tonnes at a grade of 6.53 carats per hundred tonnes (cpht) for 2m carats contained, indicated resources of 117.24m tonnes at 6.98cpht (8.18m carats) and inferred resources of 37.84m tonnes grading 6.49cpht (3.46m carats). For the purpose of Stage I mining at Kao, the measured tonnes and grades are considered to be best in-situ estimates that can be determined and reliably supported.'
Oh... just in case you wondered... this is where i started my research...
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10737515
and yes... they are registered in Canada...
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10701442
And if you want to know more about the people behind CIC... just click below...
https://www.cicresources.com/theboard.html
and also... here is how they are doing right now... in the stock market...
https://www.iii.co.uk/investment/detail/?code=cotn:CICR.L&it=le
and one last note...
If we do have the goods on the rare earth property of Sept-Iles, Quebec... we can certainly use CIC's expertise... in sea... and railway management... since they have first hand experience in China...
https://www.stone-crushers.com/373.htmlhttps://www.stone-crushers.com/373.html
CIC Mining Resources Ltd Canaccord Genuity Limited GTH
Communications
Stuart J. Bromley Andrew Chubb/ Bhavesh Patel Toby Hall
+86 136 0113 1912 +44 (0)207 050 6500 +44 (0) 20 3103 3903
From Guatemala... Rakotomala... :