CMKX: My thoughts on today's news
Sensational!
CMKX's potential is just BEGINNING to unfold before our eyes. And as it does, it is leaving much of the guesswork, theories and speculation in the dust. Building synergies to create value is what we are seeing, which is very exciting!
I cannot and will not add insight or speculation to today's news, because it needs none.
We own 25% of Juina!
My friends, we own 25% of this:
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Juina Mining Corporation (GEMM), a Nevada corporation, has a 49% interest in a joint venture partnership with Emerging Africa Gold, Inc. (EAG) in the Brazilian Company Juina Mining Mineracao, Ltda. JMML holds an 86% working interest in the mining and mineral rights to approximately 1000 hectares (2,471 acres) of diamond bearing land in the District of Juina, Mato Grosso, Brazil "The Property 1000". Property 1000 is located in the District of Juina, at the southern region of the Amazon Basin.
Juina is located approximately 550 km (342 miles) north of the city of Cuiaba by air charter or 724 km (450 miles) by road. With a population of about one million, Cuiaba is a major urban center in southern Mato Grosso, and is serviced with regular flights from Sao Paulo and Brasilia. Rio de Janeiro is about 1800 km (1,119 miles) southeast of Juina. The Property is located within the Aripuana - Juina Kimberlite Province, the largest diamond producing area in Brazil.
Kimberlites are the principal source of primary diamond deposits, and an occurrence of Kimberlite is shown on government geology maps to be in the vicinity of the boundary of Property 1000. Substantial alluvial diamond deposits have been identified by De Beers and others in the Juina region.
Several active diamond recovery facilities are operating in the area, mainly placer and river dredging operations. The operations range in size and scope from small groups engaged in recreational type mining to large mining companies with fullscale operations.
Diamonds in the Juina district fall into two categories; 1) Industrial to near gem quality diamonds ranging from US $20 per carat to US $200 per carat; 2) Larger gems, top white and fancy colored diamonds ranging from US $300 to thousands of dollars per carat.
De Beers initially organized exploration in the Juina area in 1978 through their Brazilian company, Mineracao Itapena S.A. ("Itapena") which held most, if not all, of the Juina District mining rights. By 1982, Itapena identified three main areas of interest, reduced their vast landholdings, and began detailed evaluations of these areas. The Property 1000 was one of the three claims targeted by De Beers.
By 1984, Itapena had partially covered one of their nearby targeted properties with detailed gravel mapping, trenching and bulk sampling. Initial limited sampling by Itapena, indicated a "measured reserve" of approximately one million carats of alluvial diamonds on this property.
Itapena also calculated an additional 3/4 of a million carats of diamonds as "indicated and inferred reserves." Limited sampling in 1996 in their nearby property not intensely explored or sampled by Itapena indicated virgin gravel and a much higher grade of terrace gravel not included in their original "inferred reserves" calculations. These areas of virgin gravel will increase substantially the inferred reserves. The recovery techniques used by Itapena produced inefficiencies of between 30-40% over techniques to be used by Juina Mining.
Numerous large and valuable diamonds have been recovered from either the Property 912 or from the immediate vicinity during the last 10 years and include: diamonds as large as 452 carats, recovered in 1994; 312 and 280 carats, recovered in 1996 and 1987 respectively: and another stone of 252 carats recovered in 1992.
Since 1997 Juina Mining Corporation has been involved in an on-going exploration of the "Property 1000". An auger drilling program conducted in 1998 through 1999 outlined a potential gravel resource of 1,000,000 cubic meters which representing only 20% of the "Property 1000". Simultaneously a geomagnetic survey was conducted identifying four anomalies with kimberlite like type profiles. In 1999 Juina Mining Corporation constructed a gravitational processing pilot plant incorporating the use of magnetic separators and laser sortex recovery equipment. 3,000 carats of diamonds were recovered during the initial testing stages of the pilot plant. In 2000 management made the decision to enter into a joint venture partnership to further develop the "Property 1000." In October of 2000, Juina Mining executed a Joint Venture Agreement with Emerging African Gold.
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We own 25% of Juina, which means:
* We own 25% of the "Property 1000" venture!!!!
* "3,000 carats of diamonds were recovered during the INITIAL
TESTING STAGES OF THE PILOT PROGRAM"
* The Property 1000 was one of the three claims targeted by
De Beers.
* We (CMKX) has an option to purchase and additional 24%
of Juina for the same purchase price ($500,000) within the
next year!
I could say so much more at this point. This simply speaks for itself, and it is ONLY ONE PHASE of what now makes up CMKX!. I contend, like every other phase of CMKX, this is IMPRESSIVE and adds value to our company in a major way. Be well, Bo
