Replies to post #1135 on Delta Mining & Exploration (fka DMXC)

[mineralme]

Hi Ben and everyone,

I'm still in for the ride, just haven't had anything to say. Volume of 22 million today and only a rise of what, .004 ?
Who is selling? Now is the time to buy! What is holding down the price?

I believe financing is still coming, but why don't we get a small loan from De Beers? They're flush!

Here's an article from Mineweb.net
today

http://www.mineweb.net/sections/gems/359789.htm

Diamonds are De Beers' best friend
By: Jim Jones
Posted: '20-OCT-04 15:00' GMT © Mineweb 1997-2004

JOHANNESBURG (Mineweb.com) -- Very little these days, it seems, fazes De Beers MD Gary Ralfe. After a slow first-half production start at the group’s mines and a strike in Botswana, the diamond group reckons that by year’s end it will be within 2-3 percent of its stated sales target with all cylinders firing.

At the start of the year total production from the group’s Botswanan, South African and Namibian mines was targeted to rise by some 7 percent on 2003’s 44 million carats. And, with three price increases totaling 15 percent under the group’s belt thus far this year, dollar revenues are confidently expected to be approaching one fifth more than 2003’s $5.5 billion.

A perceived problem, of course, might be that, with the virtual elimination of the group’s diamond stockpile, production at the group’s own mines might be hard pushed to keep up with growing demand.

The problem, it appears, is more perceived than real. On the one hand, in the Kimberley area there are plans to re-open the Voerspoed mine that was closed 91 years ago (in 1913) and slated to weigh in with an annual production of around 1million carats of what were described as “very pretty stones”. And on the other, the combined treatment plant that is processing old Kimberley dumps is getting to its design capacity.

And, Kimberley was the one sector threatened with closures and cut-backs because of the ravages of a strong rand.

Ralfe is laid back over the prospect of having to re-negotiate the lease of Jwaneng, the world’s richest diamond mine, in Botswana when it expires at year’s end. Going on past experience, negotiations could take a year or even longer, but the Botswana government has been there too, and renegotiation should go without any hitch. The same goes for the renegotiation of leases on the Namdeb properties in Namibia. Outsiders believe the Namibian negotiations may prove tougher than those with Botswana’s government. But this seems to be simply a matter of degree.

More problematic, perhaps, might be those with South Africa’s government over the level of royalties due to be levied on production revenues in 2009 and the Diamonds Amendment Bill that calls for more local production to be sold to local cutters. But if that is a possibility, Ralfe remains relaxed. He says that, in fact, De Beers’s South African mines cannot produce enough of the qualities of gems that can be processed locally. The shortfall needed to supply local cutters’ needs is made good by imports.

The way things are going, a transformed De Beers will need to be increasingly focused on exploration, particularly on the main cratons of southern Africa, Central and East Africa, Canada, two in Russia and, to a lesser extent, in India. Australia is out, after some unfruitful years of exploration. So, too, is China, though the group is maintaining a presence in both countries. And that exploration will, if needs be, with smaller partners. The days are gone when others were reluctant to swallowed up in stultifying deals with what was formerly a diamond cartel centred on controlling production wherever or whenever it could.

Transformation from production cartel to a firm whose strategy is now driven by demand for diamond jewellery has paid off in new mind-sets, in new opportunities and in new focus.

[KingDiamond]

Hey Ben,ive been taking a breather from the boards,i was the monitor over at the NSDM board for over 6 months and you get burned out constantly watching the boards,trying to get back to life....i got enough confidence in DMXP where i can walk away and not worry on a day to day basis...well i hope you have fun at the races in vegas,dont forget to make a few pulls on those million dollar progressives before you leave,and im sure theres a couple good shows going on,i wouldnt mind catching one of the showgirl acts,where they get decked out in those cool costumes and show a little leg : )

well weather is getting cold over here 3 more weeks and my mustang goes into storage,thats chicago for ya....