Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next
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
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
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
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement