Do some research, GIB presented a very strong case to get Ellendale, it's tenements basically surround it and combining Blina with Ellendale also made sense on many levels. GIB flagged it was entering the tender process via market release, expressing it's case that would have deterred a lot of applicant and then GIB was chosen over the others that applied.
http://www.gibbriverdiamonds.com/irm/PDF/22094c3e-15d5-4d05-85ef-79e0fe2ec857/POZtoBidfortheEllendaleDiamondMineFor straight up facts on Ellendale and what GIB now have read, this is a completely unbiased report by the government. of particular note are the E9 northern alluvials.
http://www.gibbriverdiamonds.com/irm/PDF/1919_0/ellendalediamondproject_record20188_geolsvywaThe read all GIB announcement.
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http://www.gibbriverdiamonds.com/irm/PDF/0c17a360-2738-4377-8b9c-6b3e4b7c2029/MaidenJORCExplorationTargetBlinaDiamondProjectRead the GPR announcements like this, i think it was the first one.
http://www.gibbriverdiamonds.com/irm/PDF/cea8bb8b-1fb4-4b4b-999c-747d1c00eb90/GamechangerGPRSurveyattheBlinaDiamondProjectWAPlenty of information regarding GIB's assets, if you actually take the time to research them.
Other assets include, 1million cash, Highland Plains phosphate project which is forsale, something like 6million shares in AX8, all major processing plant components including 4 sortex x-ray sorters removed from the Ellendale plant, and a quality MD who has a history for big returns for shareholders (UMC takeover by BHP 200mill+).
Imo, when the facts are considered GIB is very undervalued with multiple potential paths to profitable production, the clearest being the Ellendale E9 northern alluvials that are basically ready to mine in areas without further sampling.
In 2006 Blina + Ellendale had a mcap of 690million and now GIB has exactly the same ground, without any liabilities, with what looks like areas ready for walk up mining. GIB will proabably never build as large a plant as Ellendale preciously had but I bet GIB's strategy of targeting high grade will result in a VERY profitable mining operation potentially over a decade or more. Keeping it's current plant very busy, and perhaps more small plants to target multiple diamond sources. This wouldn't cost a lot given GIB has a spare set of X-Ray sorters one of the most expensive plant components.
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