Meridian Mining UK Societas T.MNO

Lol ... the good ol' days ...

[FreddieSanford]

sortagreen

Re: Diamond-crusher  post# 41

Saturday, February 16, 2008 9:49:19 AM

Post#  of 61 

I've been a little frustrated with their pace, but the setbacks have been administrative. 

The company is exploring a huge parcel in western Brazil with many discrete diamondiferous targets. 

The most advanced of these is the Carolina pipe and what appears to be a dike system and perhaps a cluster of pipes around it. Sola's taken several thousand feet of drill core out of the area, supposedly 2000 from the Carolina but they haven't been analyzed. The program has expanded from its inception and the Carolina seems to extend beyond the 2.5 hectares or so they originally thought given it's surface expression. It seems to sill out toward the southwest so the resource is larger than we thought. 

Bulk sampling is underway and we expect to see 20,000 tons of sample by the end of March. 

The cores were supposed to have been analysed at a lab we were setting up in Brazil, then the equipment got held up in custom for 5 months, and now it looks like those cores are going to have to go elsewhere anyway to comply with Canada's 43-101 reporting standards. 

I've given up on calling timelines. They fall apart too quickly but outside of some minor dilution, I'm not too concerned on most days. This company seems to really have the goods. 

costs are like $6 per carat to extract down there. Weather is good, land is clear around the Carolina. Diamonds out of this particluar pipe are fetching $200 per carat. .1 carats per ton would be economic. We're looking for a lot more than that. Garimpero or "artisanal" mining operations (that means guys with shovels) pulled 12,000 carats out of there in the last year before Sola got it. There may be some concentration at the top but company grab samples taken out of the kimberlite itself seem to confirm a fairly rich CPT ratio. How rich is hard to say. Canadian law doesn't allow them to go into detail unless they can confirm it by NI 43-101 standards.  

Even though this stock trades on the pinks here it's actually a reporting stock in Canada. The ticker is SL.V. Canadian law on these things has some pretty stringent standards that helps investors to avoid scams. Lots of information is available on the company wesite as well. https://www.solaresourcecorp.com/ 

I don't know if this thing will fly by May. Like I said I've given up on calling timelines. 

But. If there are 20 million tons at .25 carats per, that's 5 million carats at $194 profit or nearly a billion dollars. That's looks like a pretty good bet too. It looks likely enough that this is a $5-$7 stock at the point the bulk gets read. Or at least it should be. That doesn't even count how much blue sky there is down the line or the fact that they just picked up 70% of anadvanced project up on the ice road on out by Ekati and Diavik. It has a lot of potential. 

So... when these guys finish dickin' around we could get really healthy here. I'd recommend getting in now. 


I see this is your first post ever. What else do you like?