KELSEY LAKE MINE
Archived



Key Facts
Status: Unknown
Type of Work: Open-Pit
Location: Colorado, United States
                 48 km of LARAMIE, WYOMING

Commodities: Diamond
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Latest Information
September 9, 2001
McKenzie Bay International has entered into a contract to sell its wholly owned subsidiary, Great Western Diamond Company, to Roberts Construction Company, a private North Dakota corporation, and BJ&J Ltd, a private Colorado corporation. Great Western owns the Kelsey Lake Diamond Mine in Colorado. The companies will acquire Great Western for net book value of all equipment less outstanding debts at time of option. In addition, for a period of five years from the closing date, McKenzie Bay is to receive a royalty equal to 50% of revenue net of expenses based on any diamonds recovered over 10 carats per hundred tons of kimberlite mined based on an average price of US$118 per carat. Roberts will be the operator throughout the due diligence period.
November 30, 2000
Installation of the X-ray diamond recovery machine was completed before winter shut down, however, completion of recovery plant modifications was not possible. Information gathered from operations indicated that further mine plan modifications were needed before production could begin. A small quantity of diamonds was recovered during the installation period, the largest was a 9.4-carat gem diamond.
November 30, 2000
Installation of the X-ray diamond recovery machine was completed before winter shut down, however, completion of recovery plant modifications was not possible. Information gathered from operations indicated that further mine plan modifications were needed before production could begin. A small quantity of diamonds was recovered during the installation period, the largest was a 9.4-carat gem diamond.

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