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wdurham - Wed, 29 Dec 04 :

Cinoib -

Your comparison still is not like for like and is therefore meaningless.

The 2 tons from which NML extracted 40 carats was a CONCENTRATE. There is no indication of the original tonnage from which the concentrate was prepared, so assessing a grade is impossible. 20 carats per ton simply does not hold water, in any case - it would give a grade of 2,000 carats per hundred tonnes, which with an alluvial operation is just not credible.

AFD certainly are not as close to production as NML on the project to which you are referring. But then no pretence of imminent production has ever been made for any of the Botswana kimberlites. AK6 is only now undergoing exploration. The 100 tonne bulk sample which you quote above is very preliminary in nature, and was raw tonnage, NOT a concentrate.

If you want to cast nasturtiums at AFD by comparison with NML, you should find sensible comparisons, and not try to compare chalk with cheese.

AFD is an exploration company with mostly early stage kimberlite projects, other than the disappointing Pipe 3 in Sierra Leone. NML is a developer which acquired an alluvial project already close to production.


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