African Diamonds - The Stock of 2004

I think you are missing the point there Minto. The new interpretation of the data suggests that AK6 is not as profitable as once thought. Both the grade and carat price are significantly lower than previously estimated.

The above financial scenarios suggest that the value of AK6 to AFD might not be as big as was once thought. It is still the jewel in the crown, however it has lost some of its sparkle. Besides, you are still many years from the mine being operational.

In contrast, EPD's Main pipe - K5 zone, could be operating in 2 years and generating profit (not revenue) in the region of $16 million. Actual gross revenue could be as high as $49 million. This kind of puts AFD in the shade. The fact is that EPD has 100% of Main pipe whereas AFD only has a junior share of AK6. I leave you to determine which company could return the higher value. Given the disparity in the share prices, one of them looks like a bona fide bargain IMO.