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https://amp.independent.ie/business/irish/mining-majors-weigh-up-conroy-gold-38936856.html
6 major interest in cgnr
Are we Next up ?
I hope you're right as there's been no sign of action recently (as per usual)
Clocks ticking and Bjornberg is not here for a jolly .
Martello also has better things to do then throw money at this unless there's plan going forward .
CONroy is running this as a lifestyle operation so that he, his family and cronies can wring as much money as the can from punters for as long as they can get away with it
Argyle is a Lamoroite, hence the uniqueness. In addition to the (@<1% actually quite rare) pinks, it is dominated by brown ("cognac") and urine-coloured ("champagne") diamonds and the average value was an incredibly low $7/ct albeit at a massive 400cpht on a huge resource. That still makes (made) for $30/t with enormous economies of scale. Ellendale is also a (series) of Lamproite pipes.
There are two types of Lamproite, Leucite and Olivine-bearing, and they tend to have been emplaced at high temperatures, with poor diamond preservation, so it is only the rapidly cooled, volcaniclastic olivine lamproites that are of real interest. Apart from the Arkansas Crater of Diamibds (a single large, 40ha low grade 2cpht tourist attraction where you can actually go dig for diamonds, and has produced stones up to 40ct) AFAIK the only other diamondiferous (and largely untested) lamproite field is in Zambia, a series of 12+ pipes bang in the middle of the remote Luangwa national park!
The alluvials at Ellendale are 4-10cphm3. At $400/ct it works out between $30-80/t but requires earthmoving on a massive scale - Orange River territory. I would take the exploration target objectives of 230-410cphm3 with a large pinch of salt given comparisons to actual sample results 40x lower, and as they are based in part on estimates of what is supposedly missing. The incidence of large stones supports this, as it is the smallest diamonds that are winnowed out, albeit that this results in a bigger grade loss than loss of value.
One can only surmise their "staff numbers" is the owner management team and all others are contractors and not counted. Kimberly were reputed to be top heavy in this regards. Check out what happened to Rockwell under similar conditions. Those are pretty good terms, better than Lahtojoki, BUT as with Bow River, the alluvials off Argyle, the life may be rather limited. That said, on the face of it it looks decent enough. Bow River worked out very well but remember Argyle was a much bigger, more deeply incised and higher grade source than Ellendale 9.
https://www.mindat.org/loc-248649.html
That said, everything else said regarding KDR still applies.
Chairman of the Diamond Guild of Australia Michael Neuman said there had been no other mine like Argyle discovered in human history.
"There hasn't been a new viable diamond mine discovery [in] the last 20 to 30 years and the ones that are currently in production all over the world are likely to become economically unviable in the next 50 years," he said.
"To my mind, that means its extremely unlikely that another regular source of pinks will ever be found, because the conditions required for the formation of pink diamonds in nature are so freakish."
Lahtojoki pink Diamonds ???
Rio Tinto Argyle mining future may decide fate of Australian industry
By Courtney Fowler
18th Jan 2020
Correction Jim Richards comments.
If that clarify it better.
From Gribb River Diamond s not RTZ or Mr Conroy.
Correction of last post
Stevehoops said: "You're looking at an operation that only involves about 5-10 people to get up and running, not the hundreds that Kimberley Diamonds had [but] that doesn't mean it can't be very profitable."
Not sure who you are quoting but I assume it is Dicky Conroy, so let me enlighten you.
1) Mines need to be run 24/7 to make full use of their capital and to extract revenue at the fastest rate possible. Plant and fleet should never allowed to sit idle for 12 hours a day (the same principal as applies in the airline industry).
2) The mandatory working week in Finland is 37.5 hours so including leave and sickness you need 5 employees to cover every position.
3) Assuming a small 100 tonne per hour operation you need a minimum three staff on the plant, plus at least two security (it is diamonds after all) plus for mining, given this size of mine uses small 40t trucks, you need at least (@ 300 t/hr ore plus waste with 20 minute cycles) four trucks, plus three excavators (one on ore and two on waste and/or stand-by), plus loaders, dozers, drill and blast crew, metallurgist, geologist, maintenance and engineering staff, stores, workshops etc. comes to a shift complement of AT LEAST 20 so a workforce of AT LEAST 100.
4) This is all once the mine is actually built, after of course a resource is defined, after of course 2,000 carats are recovered, after of course 5,000 t is mined and processed, after of course the environmental permits are issued, the plant and equipment is purchased, the lake is drained and cleared of mud, the site is leveled, the plant erected and commissioned, the land owners placated and paid off, the access road unblocked, £2-3M is raised from investors, the DFS is completed, the permits and planning are issued, £20M+ in capital is raised from institutions and the two to three plus years to do it all have elapsed.
With this management? I don't think so.
Fool if you think this is over ,16 years !
No Steve the 'prof' is a FOOL. KDR 20 years!!! Worst investment ever
unlikely as A&G must be close to losing the will to live and any further sign of nothing happening then surly they look to sell or exit the existing deal and sell direct to Bjornberg?? The board will only be to aware of that .
Aim has a funny way of biting when you least expect it. Will see !!
Nail on head, it is pocket change and barely coveres the directors fees and salaries for another year. What is needed, committed in advance and in full is 10x as much i.e. €2-3M!
The problem with this and a ~£1M company, is it means the managenent get diluted to <10% but clearly still want absolute control, and it is also clear that management cannot or will not pay up out of their own pockets (they have had four years after all).
So the only solution is for shareholders or a new investor such as Bjornberg to loan the company £2-3M interest free and unsecured for two or three years, convertible to stock at say 20-25p in three years time.
Good luck with that. The current incumbents were offered a way out by rebel shareholders, i.e. to stand down, and continue to own 20%+ of the company but let others with more credibility raise the funds and with more competence execute the work program. They refused (twice!).
It was never about funding and progress, it was about control and maintaining the status quo.
The diamond mining permit together with all claim reports and additional technical material was acquired from A&G Mining Oy (“AGM”). The purchase price was €150,000, comprising an initial purchase price of €50,000 plus a further €100,000 after twenty four (24) months unless Karelian decides not to develop the project.
after 24 months ,3 years on its time to start.The clock is ticking down !!!
Wealthy family would deal with landowners and perhaps their own team will bulk sample.????
According to company not walking away from this?
“I am delighted to welcome Fredrik Björnberg as an investor in Karelian Diamonds, which highlights local investor support for the development of what we anticipate will, in the future, be Europe’s first diamond mine (outside Russia)
KDR has too much to lose if Bjornberg was to steal it off kdr from A&G so no danger of that happening .
The prof is no fool.
LOOKING LIKE AT LAST ACTION STARTING OR ABOUT TO ????
So this wealthy family has put pocket change into KDR. What next?