Ann: Trading Halt, page-65

If it is the Merlin mine, it is all over for this company, in my opinion, as the cost to start up the mine and significant dilution on top of the companies other operations will put this company at risk of administration within 2 to 5 years.

From Wikipedia, the free encyclopedia
The known ore grade at Merlin is about 0.2 carats (40 mg) per tonne
The high ratio of gem-quality diamonds is responsible for a relatively high value of $108 USD per carat

How is the above mine grade and average value per carat a good mine to mine, ???

1. Deloitte to liquidate dodgy Australian diamond miner
   
   https://www.consultancy.com.au/news/1167/deloitte-to-liquidate-dodgy...
   4/10/2019 · The Merlin diamond mine is currently one of only three diamond mines in Australia, and was set to become Australia’s last operating diamond mine when the Argyle mine in Western Australia ceases operation next year.
   
   Now I realize that a mine may be different to any company that may be dodgy, but could you trust any historic mining numbers from such a mine considering what has happened.
   
   Regardless of what previously happened, mining at a grade of 0.2 carats per ton is very risky going by the cost to mine these days.
   Few diamond mines exceed one carat per tonne (kimberlite host mines range from 0.1 carats per tonne to 3+ carats per tonne, meaning that most kimberlites contain less than 1 gram per tonne on average of commercial sized diamonds!