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Author: TigerToes Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 13  
Subject: Re: Anyone here Date: 8/22/1999 8:46 PM
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The big excitement was the purchase of a large stake by Tiffanys. $114 million worth and an agreement to buy $50 million of rough stones a year for 10 years.

Aber has a 40% stake in the project and the joint venture partners are Diavik Minerals which is a wholly owned subsidary of Rio Tinto.

I believe the share price would be much higher by now but they have been having some permitting problems with the provincial government.

If anything Cananda has more stringent mining laws than the US and somtimes these mining projects can be held up for a long time.

Apparently they are making progress and the delay will only be about 1 month.

The diamonds are there so that is not a question. Also diamond mines are more like a quarrying operation and have very little effect on the environment.

Once all necessary permits are received the uncertainty will be removed and the shares should move up. Canada being a more stable part of the world, there should be a premium given to the shares over mines in Africa.

I already own a fairly large stake in the company as well as owning some of the African diamond mining companies.

TT
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