Post by Franko10 ™ on Jan 31, 2005 12:33:08 GMT -5
Kensington Resources Ltd. - WWW Valuations Confirm Previous De Beers Figures
VICTORIA, British Columbia--(BUSINESS WIRE)--Oct. 11, 2001
FORM 20-F FILE No.0-24980
Kensington Resources Ltd. (the "Company") is pleased to report that the independent valuation of stones collected from the 2000 exploration program at the Fort a la Corne Diamond Project in Saskatchewan has been completed.
Neil Buxton, Richard Wake-Walker and Nico Wolters of WWW International Diamond Consultants Limited ("WWW") carried out the valuation of the samples in Antwerp, Belgium. David Stone and William Zimmerman, directors of Kensington Resources Ltd., were present during the valuation process. The samples were also shown to three other diamond companies in Antwerp for further assessment in order to obtain a wide range of opinions. WWW and the other Antwerp diamond companies concentrated on the samples of two kimberlite bodies: No.141 and No.122 on which De Beers carried out a recent valuation and analysis, and which were subject of the Company's news release dated April 25, 2001. The purpose of the valuation was to verify both the accuracy of the De Beers valuation and to examine the quality of the modelling applied by De Beers to their valuation. The table below is taken from the Company's news release of April 25, 2001.
Grade Grade Model
Sample Forecast Forecast Value
Carats /cpht /cpht US$/ct.
Body (+1mm) (+1mm) (+1.5mm) (+1mm)
--------------------------------------------------------------
122 17.31 8 7.5 133
122 13 12 136
141 21.06 19 18 148
141 19 18 173
--------------------------------------------------------------
(table continued)
Model Model Model
Value Revenue Revenue
US$/ct. US$/t US$/t Model
Body (+1.5mm) (+1.0mm) (+1.5mm) Description
--------------------------------------------------------------
122 144 11 11 Best fit
122 147 18 18 Optimistic
141 153 28 28 Best fit
141 179 33 32 Optimistic
--------------------------------------------------------------
Given the size of the samples, the changing diamond market and price fluctuations, WWW are satisfied that the De Beers valuations and their associated modelling are reasonable.
WWW is an independent British-based diamond valuation and consultancy company, which has carried out a number of valuations for diamond mining and prospecting companies. As part of Diamonds International Canada (DICAN) Limited, it is the current valuator to the Canadian Federal Government. The principals of WWW, Charles Wyndham and Richard Wake-Walker, are members of the Company's technical committee.
The Fort a la Corne Diamond Project is a joint venture among De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (42.25%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. The 2001 program is funded by Kensington, De Beers, and Cameco.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone President
TRADING SYMBOL: KRT-CDNX
For further information, please contact William Callahan, Manager of Investor Relations at (250) 361-1KRT or by e-mail at bill@kensington-resources.com
Kensington Resources Head Office Suite 304, 1208 Wharf Street Victoria, British Columbia, CANADA V8W 3B9 Tel: (250) 361-1KRT (361-1578) Fax: (250) 361-3410 Website: www.kensington-resources.com E-Mail: info@kensington-resources.com
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2001 Business Wire
COPYRIGHT 2001 Gale Group
VICTORIA, British Columbia--(BUSINESS WIRE)--Oct. 11, 2001
FORM 20-F FILE No.0-24980
Kensington Resources Ltd. (the "Company") is pleased to report that the independent valuation of stones collected from the 2000 exploration program at the Fort a la Corne Diamond Project in Saskatchewan has been completed.
Neil Buxton, Richard Wake-Walker and Nico Wolters of WWW International Diamond Consultants Limited ("WWW") carried out the valuation of the samples in Antwerp, Belgium. David Stone and William Zimmerman, directors of Kensington Resources Ltd., were present during the valuation process. The samples were also shown to three other diamond companies in Antwerp for further assessment in order to obtain a wide range of opinions. WWW and the other Antwerp diamond companies concentrated on the samples of two kimberlite bodies: No.141 and No.122 on which De Beers carried out a recent valuation and analysis, and which were subject of the Company's news release dated April 25, 2001. The purpose of the valuation was to verify both the accuracy of the De Beers valuation and to examine the quality of the modelling applied by De Beers to their valuation. The table below is taken from the Company's news release of April 25, 2001.
Grade Grade Model
Sample Forecast Forecast Value
Carats /cpht /cpht US$/ct.
Body (+1mm) (+1mm) (+1.5mm) (+1mm)
--------------------------------------------------------------
122 17.31 8 7.5 133
122 13 12 136
141 21.06 19 18 148
141 19 18 173
--------------------------------------------------------------
(table continued)
Model Model Model
Value Revenue Revenue
US$/ct. US$/t US$/t Model
Body (+1.5mm) (+1.0mm) (+1.5mm) Description
--------------------------------------------------------------
122 144 11 11 Best fit
122 147 18 18 Optimistic
141 153 28 28 Best fit
141 179 33 32 Optimistic
--------------------------------------------------------------
Given the size of the samples, the changing diamond market and price fluctuations, WWW are satisfied that the De Beers valuations and their associated modelling are reasonable.
WWW is an independent British-based diamond valuation and consultancy company, which has carried out a number of valuations for diamond mining and prospecting companies. As part of Diamonds International Canada (DICAN) Limited, it is the current valuator to the Canadian Federal Government. The principals of WWW, Charles Wyndham and Richard Wake-Walker, are members of the Company's technical committee.
The Fort a la Corne Diamond Project is a joint venture among De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (42.25%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. The 2001 program is funded by Kensington, De Beers, and Cameco.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone President
TRADING SYMBOL: KRT-CDNX
For further information, please contact William Callahan, Manager of Investor Relations at (250) 361-1KRT or by e-mail at bill@kensington-resources.com
Kensington Resources Head Office Suite 304, 1208 Wharf Street Victoria, British Columbia, CANADA V8W 3B9 Tel: (250) 361-1KRT (361-1578) Fax: (250) 361-3410 Website: www.kensington-resources.com E-Mail: info@kensington-resources.com
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2001 Business Wire
COPYRIGHT 2001 Gale Group