Kaisers commentsKaiser says Mountain Province shares in GGL's victory
2003-06-06 18:05 ET - In the News
John Kaiser, writing in a June 6 Bottom-Fishing Tracker, says the dispute over LA 26-30 near Mountain Province's Kennady Lake project is finally over and GGL Diamond now has undisputed title to the entire Doyle Lake property. Mr. Kaiser recommended Mountain Province Diamonds (68 cents) in December, 2001, at 62 cents; earlier buy tips were December, 1999, at $1.75, and February, 1997, at $4.31. Development of $3-billion (U.S.) worth of diamonds at Kennady Lake was put on hold in April. The disputed claims covered the inferred head of a strong regional indicator mineral train with excellent pyrope chemistry. Doyle Lake now holds the key to development of a mine at Kennady Lake. Mr. Kaiser says Kennady Lake is stalled because De Beers does not want to develop a mine in the Arctic with only 11 years worth of reserves. If it gains comfort from the Doyle Lake work that potentially economic future mill feed is present, a feasibility study at Kennady Lake will be in full swing by this time next year. Mountain Province is back into his 50-cent to 75-cent accumulation range. The stock will be boring during the next six months, he says, but by this time next year it could be back at the $2 level.