DIAMONDS — The millionaire prospectors

Charles Fipke

Charles (Chuck) Fipke, known worldwide for his tenacious and ultimately successful 10-year diamond hunt in the barrens, is synonymous with Canadian diamonds.

The chairman of Dia Met Minerals has been called everything from an eccentric to a creative genius. He even took on an ethereal quality early in the rush by uttering the “Fipke Curse,” a declaration that no significant discoveries would be made outside the claims held by Dia Met. But without Fipke, Christopher Jennings might still be trying to convince Canada’s skeptical majors that diamond exploration is worth financing, De Beers might have given up its decades-long Canadian hunt, and the country’s extraordinary diamond riches might have remained undiscovered below the frozen tundra.

Fipke earned a bachelor’s degree in geology from the University of British Columbia before roaming the world as a geologist specializing in diamond and heavy mineral exploration. In 1977, he founded C.F Mineral Research and, 14 years later, used his own analytical methods to seek out the infamous Lac de Gras discovery. In recognition of the key role he played in launching what will become a multi-million-dollar industry in Canada, Fipke was named The Northern Miner’s 1992 Mining Man of the Year. That same year, he was crowned Prospector of the Year by the Prospectors & Developers Association of Canada.

Christopher Jennings

Dr. Chris Jennings, president and chief executive officer of SouthernEra Resources, has little in common with Fipke other than a love for diamonds. He holds a doctorate in geology from the University of Natal and, as a former vice-president of Corona Corp., B.P. Minerals (Canada) and Falconbridge, is at home in the executive offices of major mining companies.

The extroverted South African and consummate promoter has been involved in mineral exploration worldwide for the past 40 years and in diamond exploration since 1974. His expertise became a hot commodity in the early days of the Lac de Gras rush when most Canadian geologists, mining analysts and investors were at the bottom of the learning curve with respect to diamond exploration and Chuck Fipke was keeping mum for proprietary reasons. Jennings proved to be a shrewd negotiator when he won a 1% gross royalty on any diamond production from ground staked for Aber Resources under his direction. If, as is expected, the Diavik project goes into production in early 2002, that royalty would be worth millions of dollars per year.

Grenville and Eira Thomas

The father-daughter team of Grenville and Eira Thomas can take much of the credit for the discovery of diamond-bearing pipes on the Diavik claims owned by Aber Resources and Rio Tinto.

While “Gren,” guided by Jennings, staked the original claims and raised the exploration financing, Eira was responsible for spotting the drill hole that intercepted pipe A-21 and officially broke the Fipke curse in April 1994. Later, Eira and fellow geologist Robin Hopkins found the 1.76-carat “Aber diamond” embedded in core from pipe A-154. The A-21 and A-154 pipes are two of four pipes scheduled for production by early 2002.

Grenville, who graduated with a degree in mining engineering from the University of Wales at Cardiff, is now Aber’s honorary chairman. He launched his Canadian career in 1964, working for Falconbridge in Sudbury, Ont., and Yellowknife, N.W.T. He then started his own

consulting business. Gren’s years of experience in the Territories allowed him to move quickly to establish a sizable land position around Lac de Gras before the rush gathered momentum.

Eira, who graduated from the University of Toronto with a B.Sc. in geology, became Aber’s vice-president of exploration in 1997 and is currently managing the company’s exploration programs in Greenland.