Good luck to you Gregy,
I've checked out the co after reading your post but.... somehow... I don't like the deal AKD's directors sticked up for ABAETE DIAMOND PROJECT - Minas Gerais, Brazil. Deos not sound like a smart deal to me. It looks like AKD have to take on lots of risk with little benefit. Black Swan Resources will contribute nothing for the joinventure but still entitle up to 60% revenue generate from mining..
"AKD has an agreement with Canadian listed explorer Black Swan Resources Ltd, to develop the Abaete alluvial diamond project and can earn a 50% interest by funding all bulk testing costs and producing 500 carats prior to 3 November 2003. AKD will also have the option to extend the farmin period for a further 3 months to 3 February 2003 if required. Should AKD recommend mining based on favourable bulk testing results it will also be required to fund the full cost of a plant to be constructed for mining. Prior to earning its interest, AKD will receive 40% of all revenue generated from diamond sales."
I give it a miss for betting on this one.. Management is not so smart at all...
Good luck to you thought...
AKD
akd limited
