Coffee with Samso - Episode 006 - Lithoquest: A Diamond Explorer

Coffee with Samso - Episode 006 - Lithoquest: A Diamond Explorer

In this session of Coffee with Samso, Lithoquest is telling us about the exciting story of what they are doing in one of the most impressive diamond exploration regions in the world.  The unique manner in which diamonds are transported to the surface limits its occurrence.  The fact that Lithoquest has discovered micro-diamonds and Kimberlitic indicator minerals is encouraging in itself already.  Samso speaks to Bruce Counts, the CEO of Lithoquest, on a cold and wet afternoon along the Canning River, in Perth Western Australia.



The Company and its Story

Lithoquest Diamonds Inc.  (TSX-V:  LDI) is a TSX-V listed company who is undergoing one of the most speculative projects in the mineral exploration industry.  Diamond exploration in its purest form is the best High-Risk and High Reward investment.  The Ekati diamond mine in Canada is making 100s of millions a year.  The Argyle diamond mine was pumping in similar returns for Rio Tinto (ASX: RIO).  These mines are producing several million carats per year, and when you do the maths, that’s 100s of millions a year in revenue.  Ekati is reported to be producing 7-8M carats per year.

Ekati Diamond Mine, note three open pits in the foreground. Airport far left, with another pit just above it in the distance. (Source: Wikipedia)

With these kinds of metrics, it is not rocket science to realise that a discovery of a diamond bearing Kimberlite or Lamprorite or some other host rock (assuming there is another form) will propel companies like Lithoquest into the stratosphere.


The North Kimberley Diamond Project

Lithoquest’s North Kimberley Diamond Project is 100% owned and covers 1,500 km2 of the northern portion of the Kimberley Plateau, approximately 225 km from Kununurra. The Gibb River and Kalumburu Roads provide ground access to the project area from either Derby or Kununurra. Locally, the Plateau is flat-lying and characterised by escarpments and isolated mesas.

The North Kimberley Diamond Project. (source: Lithoquest)

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Samso has nearly 30 years of experience in developing business ideas and concepts in the Australasian region.

Samso has worked primarily in the mineral resources industry, capital markets and corporate finance. Noel Ong is the founder of SAMSO.



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