reality check, page-23

re: time please gentlemen! A few years back, Diamond Joe Gutnick had Astro Mining with a market cap greater than Ashton. At that time, Ashton was the world's largest diamond producer (and still is even though it is now inside RIO)- Astro was not in production. Further more Astro found 2/5 of 5/8 of the proverbial.
Moral of the story-people can get excited when it comes to diamonds!
Do a little bit of research on diamond exploration.
Thanks to recent advances with geophysical tools(eg the Falcon Gravity stuff ), the finding of kimberlite/lamporite pipes is getting easier. But it is still expensive-ask one of the labs how much they charge for testing for the indicator dirt such as chromitic spinels.
To get a decent sized pipe is uncommon (positive for CQT), but has been tested historically with only micro diamonds present on a very small data base(slight negative). The historic data has been reinterpreted as to size(a plus), and with the benefit of regional interpretation ,KIM's success in particular, they have done a 'statistical, interpretation that suggests macro diamonds of commercial grade are present (a positive in that macro diamonds should be present, a negative in that they have not found any yet!).
To be at the stage they are at for the small amount spent to date is fantastic. Now for the next bit-actually finding the bloody things.
Don't put too high an expectation on the stock at this stage-you stand the risk of p*ssing everyone off if results are not coming as quick as you lead people to believe or as exciting as you may hope.
This is a very high risk/high reward industry. As an observation, I think that last count the US had over 1000 kimberlite pipes. After bucketloads of exploration dollars have been spent, they have not had one with diamonds yet (they all migrated north to Canada !LOL).
Another rusty old diamond exploration comment. For every 100 pipes discovered (except in the US), 5 may be diamondiferous. Of those 5, one may be commercial.
Don't know if those ratios are still accurate but should not be too far off the mark.
Note that to find one pipe can be hellishly expensive. Then you have to sample by drilling/trenching where possible-note a diamond bearing zone in a pipe does not have to behave in any set manner so drilling is not necessarily conclusive. That leads then to bulk sampling.
None of this happens overnight and yes it is costly in comparison with a simple gold mine. But who knows , it may not have any macro diamonds, or it may be sensational. It could come a duster or it could be $10 given the pipes dimensions, but at least you are in the game .
Just don't expect too much too soon.
Cheers, TAS