Ann: Kimberlite Identified Near World-Class Diamonds, page-237

An extract from mining news for all those Warick Grigor fans....

Far East Capital analyst Warwick Grigor said the announcement was extremely positive for Lucapa.


“Everything points to Lucapa sitting on top of a diamondiferous kimberlite pipe,” he wrote this morning.


“The key piece of evidence here is the identification of RVK (re-sedimented volcaniclastic kimberlite).


“Finding a pipe changes the nature of the speculationthat will impact upon the share price.


“It is no longer ‘if there is a pipe’, the answer to which gives a succeed or fail outcome, but ‘how big and how valuable is the pipe?’ Is this worth $A200 million, $500 million or $2 billion? The market will look for continual news flow as it seeks to answer the question over coming months.”


Grigor described Lulo as the most exciting diamond project anyone has seen in the last 30 years, echoing comments by chairman Miles Kennedy two weeks ago, who suggested the project could be the most valuable diamond mine in the world.