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Metalex Ventures Ltd V.MTX

Alternate Symbol(s):  MXTLF

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec for the exploration of diamonds and owns 100% of the non-diamond project. It also has a 100% interest in certain mineral claims in the James Bay Lowlands area of Northern Ontario. It has a 70% interest in the Viljoenshof Diamond Project in South Africa.


TSXV:MTX - Post by User

Bullboard Posts
Post by Oregonduckon Mar 05, 2016 12:39pm
124 Views
Post# 24625941

Diamond Sector Percolating

Diamond Sector PercolatingLooks like the diamond sector - like the gold miners - is rebounding with the current strong rally. Rough diamond prices have gone up nicely in the last few weeks. Producers like De Beers, DDC, LUC and SWY (startup late 2016) and Gahco Kue are hitting their strides, and junior DVI is up pending sampling results. The steep drop in Canadian dollar is helping the diamond miners' bottom line.

U2 exploration negotiations with ATT FN are ongoing - close but no cigar just yet. Dominion (DDC) now models the value of Jay diamonds larger than a 1.0-millimetre cut-off at between $53 (U.S.) and $58 (U.S.) per carat. DDC puts the discounted net present value @7% (NPV) of Jay at $610-million (U.S.) after taxes, based on a $657-million (U.S.) mine plan. Previously, on the "quick and dirty" estimation, I put U2's 8% NPV at $500 million (U.S.) after taxes, based on $100 -million mine plan (assuming Victor processing plant is bought out by MTX for $20-million). While Jay has huge tonnage, U2 which is similar to Victor's (based on world-renowned Antwerp diamond expert ) has the highest carat value in the world at around $400 (U.S.) per carat. The bulk sample should bear that out.

A year ago, MTX spent close to all of its exploration budget on the Moroccan diamond prospect. A container of sample rocks will arrive in Kelowna next week. Chuck would not have shipped the rocks all the way from Morocco unless they found excellent indicator minerals there.

As for the Quebec diamond sample, the results should be announced shortly. Chuck personally raised $650,000 for exploration on this project during last year.

We all know Chuck is secretive, and keeps things close to his vest. I won't be surprised if the stock pops big with news forthcoming.
 
Bullboard Posts