CMKM Diamonds Inc. Announces That Drilling Has Commenced Two Days Ahead of Schedule in the Fort a la Corne Area
Monday March 15, 9:30 am ET
LAS VEGAS--(BUSINESS WIRE)--March 15, 2004--CMKM Diamonds Inc. (Pink Sheets:CMKX - News) announced today that the company has begun drilling on privately owned land in which CMKM Diamonds Inc. owns the mineral rights.
Urban Casavant, President of CMKM, stated, "We are pleased to have started our drill program two days ahead of schedule. We have secured funding for an aggressive six month drill program and we are drilling on claims which CMKM Diamonds Inc. owns the mineral rights. Equipment has been mobilized and we are drilling at this moment. We are drilling on targets that have the highest probability of a kimberlite find. We would like to thank our thousands of shareholders for their patience."
This nano stock has been as much as 20,000% higher. It is presently priced at .0001. 1 million shares = $100
My son & I attempted to trade CMKM for over 3 months. We each bought 5,000,000 shares for .0001, & put a limit sell in for .0002. Almost every day the daily high would show .0003 to .0004, however our sell orders never filled. We ended up breaking even after 3 months less commissions. The daily volume was almost always over 2 billion.
Something seemed fishy like the MM or specialist was picking up cheap shares & flipping them for 100% daily profit. My2c
It's a loooooooong shot, extremely illiquid. With 2.4 billion shares outstanding, you could buy 'em all for $240,000.
As Kopy pointed out, stranger things have happened.
If these guys manage to salt the drill cores with a few diamond chips, greed alone could send this thing back up to pennies per share.
You know, there's a little company with a much better chance of finding diamonds;
"The Taurus geophysical survey and database consist of 77,000-line kilometres of helicopter-borne ultra-high-resolution, frequency-domain EM and magnetics flown at a mean terrain clearance of 30 metres for the EM and about 40 metres for the magnetics. Mean traverse separation is 100 metres. Navigation was radar controlled. Sample rate was ten per second, which translates to a sample every three metres along traverse. The EM system employed a three-frequency setup, with two sets of vertical coaxial coils and one set of horizontal coplanar coils. This configuration is highly effective for differentiating flat overburden features from steep bedrock conductors. It is also highly effective, when combined with knowledge from existing drill holes of overburden thickness, for mapping bedrock topography under overburden cover. Hard copies of total-field and shadow magnetics are plotted at a scale of 1:50,000 plus detailed colour plots at scales ranging from 1:20,000, 1:10,000 and 1:5,000. Since the data has a 25-metre-interval grid, image clarity can be maintained to these finer scales. This is, again, a unique aspect of this very large database and it is ideal for kimberlite exploration in that it brings to bear the high-resolution features needed in the quest for the relatively small kimberlite targets."
"Target selection by an experienced geophysist identified more than 150 new targets, including several lusters and distinct bull's-eye anomalies, which are consistent with possible kimberlite intrusions. These targets have been prioritized using the Taurus proprietary data base. A claim-staking program has acquired several of the top priority targets."
"Project properties in northwest Quebec and northeast Ontario now number 40 and cover more than 15,000 hectares. Further target definition and determination of diamond potential is underway. Additional claims will be staked to ensure that the majority of the better targets are acquired. The available geological and geophysical information for each property will be reviewed, refined and augmented where necessary. If ground geophysics, geochemical and indicator-mineralogical sampling are required and practical, the appropriate work will be pursued. Reconnaissance drilling will be employed early in the program to quickly determine if a given target is a kimberlite."
Difference between CMKM's hunt for diamonds and ITS's hunt is technology. CMKM will look for potential kimberlite targets on their property, but ITS already has the kimberlite targets mapped on their property. Seems like CMKM might be correctly valued at .0001. One drawback for ITS is that at 30 cents the stock is what, 300,000 times more expensive? Did I misplace a decimal point there? Of course, my broker charges a penny a share, so a million shares of CMKM would cost me $100 for the shares and then $10,000 in brokerage fees... naahh, I'll just buy more ITS. ;)
doesnt anybody know that diamonds are the most manipulated worthless precious metals on earth
i mean its just quartz thats jeweled you can find it just about anywhere
the debeers manipulated the price to make the stupid stones so valuable they really have no value at all
cant say that about gold
oh well i guess if diamonds are a girls best friend then us men must pay unbelievable prices for that junk
I too, had read about the diamond potential on Tauras property. I agree that Taurus is an extremely hot property as well as WHT, Northern Dynasty, Nevada Pacific, NOVA, and even DROOY.
Apparently, groups charged with keeping the lid on, (such as Goldman Sux), will be successful, until something gives. Could a release of the PPI trigger it, or could sufficient spin be applied?
Conventional wisdom dictates that we shall never win. As the market implodes, demand for industrial metals will decline....
IMHO metals will have no more value than they do at present. The dollar, in reaction to a collapsing market, will likely obtain a value similar to that of 1 share of CMKX or 1/100 of a cent eventually.
Can't happen? Would you say that the former Soviet Union had plenty of commodities to back the value of the Ruble? A friend of mine who visited there recently was roundly ridiculed for picking a 10 Ruble note off of the sidewalk. Turns out the value of the thing was 1/200 of a U.S. cent.
What collapsed the USSR? Communism. What sort of government do we have here in the U.S. now?