The Canadian diamond exploration play has attracted too much uninformed opinion of late. For the record, we will boldly go where only a few have gone before (i.e., out on the limb) and render the following opinions:
1. Major companies do occasionally make mistakes on hot exploration ventures. But with the likes of De Beers, BHP and Kennecott putting down cold, hard cash — and plenty of it — in the Canadian diamond play, there’s simply too much smoke for there not to be a fire (an inferno, perhaps). 2. Soon after the 21st century begins, Charles Fipke will be venerated as the father of Canadian diamond mining.
3. Mr. Fipke will be venerated because at least one diamond mine will be in development in Canada, likely in the Northwest Territories, before or soon after the turn of this century.
4. With regard to a potential Canadian diamond mine, the main caveat involves neither geology nor carats per 100 tonnes but rather that the market for diamonds remain relatively stable. Therefore, should De Beers’ Central Selling Organization crumble, the rush for the exits will be a bloody affair. 5. Diamond mines or no diamond mines, some speculators (and by speculators, we mean people who “invest” a small portion of their investment money in high-risk ventures such as diamond plays) will get burned. Some have made, and will make, big profits.
Be the first to comment on "EDITORIAL PAGE — For the record"