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Investing in a cheap diamond mining operation

AlfredSokol said: "Okay, here's the real deal on getting rich with a small investment. Sure, you'll have to travel to Murfreesboro, Arkansas and visit the [url=http://www.arkansas.com/things-to-do/diamond-hunting/]Crater of Diamonds State Park[/url]. [IMG]http://image-hosting.nccw.net/uploads/119.gif[/IMG] [quote] You'll search over a 37-acre plowed field - the eroded surface of an ancient, gem-bearing volcanic pipe. Begin your diamond hunting adventure at the visitor center featuring exhibits and an audio/visual program that explains the area's geology and offers tips on recognizing diamonds in the rough. Since diamonds were first discovered on the site in 1906, over 75,000 diamonds have been unearthed. The Park offers 59 Class A campsites, picnic sites, a summertime café, laundry, gift shop, hiking trails, interpretive programs and a water play area. When John Huddleston plucked two diamonds from the greenish-colored dirt of his farm, a hysteria known as "diamond fever" ensued. Although the excitement has since waned, interest in Arkansas's diamond mine remains high. About 60,000 people come to Huddleston's old farm site, now the Crater of Diamonds State Park, each year to search for these precious gems. The crater is the only diamond mine in the world where the public can pay a fee to dig and keep any gems they find.[/quote] So there you have it. Set out to Arkansas with a pick and a shovel and change your stars forever. :go:"

ratAphooey said: "so whats the downside? besided having to find the damn diamond?"

Heather said: "I suppose the investment of time. I wonder how much time on average it takes for someone to find a diamond that's newsworthy? A little bit of intuition might go a long way in finding a suitable diamond there."

Pb3190 said: "If I was a kid and lived there, I would be there all Summer if it didn't cost much. I wonder what percent of people actually find anything?"

lil dickie said: "I know the percentage is probably very low but people do [url=http://www.craterofdiamondsstatepark.com/history/]find plenty of them[/url] Up to 16 carat diamonds have been found there. Actually a percentage can be determined: 83576 visitors found 488 last year. 0.00583899684!"

Heather said: "I'd go hunting every day if I were in closer proximity!"

Pb3190 said: "Thanks for the percentage, I guess the odds wouldn't be in my favor of getting lucky and finding a diamond. I agree with Heather though, if I lived in the area I would be there a lot."

lil dickie said: "I agree the odds arent in your favor. BUT! A 13 carat diamond was found there. So if you did hit...it might be wealth changing. Like you both said...if I was closer Id stop in weekly at least. They must be doing some good marketing because the number of paid tickets really went up between 2005 and 2006."

Worthydaydream said: "I have been to a gold mine before. Same kind of thing except closer to home. We didn't get rich because we didn't have explosives or anything. More or less it's the novelty of digging around with a pick axe."

newinvestor123 said: "Road trip!"

lil dickie said: "[QUOTE=Worthydaydream]I have been to a gold mine before. Same kind of thing except closer to home. We didn't get rich because we didn't have explosives or anything. More or less it's the novelty of digging around with a pick axe.[/QUOTE] True enough. I think getting rich from a mine and getting struck by lighting are about as likely."

Pb3190 said: "There is a gold mine about a half hour from me, I think it's either the first gold found on the East Coast or in America. Anyway, they let you pan for gold if you go on one of their mine tours. People find stuff once in a while, but nothing worth a lot."

Worthydaydream said: "East Coast? Do you live in the NY area? I think that's the one I probably went to haha"

Pb3190 said: "Nope, not near New York at all. I'm down in the Carolinas... currently the land of 90-100+ degrees making it too hot to do much of anything outside. Ah well, I have TV and a computer."

AlfredSokol said: "Hot enough for ya? LOL :jump:"

darsh999 said: "According to me the diamond business will never be a cheap one but i would love to invest over there . Can i have more details on that ? :("

AlfredSokol said: "A huge [url=http://news.yahoo.com/s/ap/20071023/ap_on_fe_st/odd_diamond_found]3.2 carat diamond[/url] found!"

lil dickie said: "Lighting struck that guy twice in one day. He found another one that was over a carat. He must know where to look."

alinvest said: "I've been there before, but had no luck. My advice, do not go during the middle of the summer. Very hot and humid. Spring and fall should be a good time."

AlfredSokol said: "These guys are doing a great job of internet marketing. Every time someone finds a diamond they make the front page of Yahoo."

Heather said: "They went and did it again! The 1,000 diamond was found.. it [URL="http://news.yahoo.com/s/ap/20071210/ap_on_fe_st/odd1000th_diamond"]weighed 3.48 carats.[/URL] Nice find.."

AlfredSokol said: "They certainly are getting a lot of press coverage this year. :th_dblthumb2:"

Pb3190 said: "It makes me want to go start digging up my yard... Too bad all I might find would be red clay, maybe an arrow head, or just dirt."

lil dickie said: "The last guy who found the diamond lives in a tent nearby and dig all the time! I wonder what his hourly wage is when you break it down."

Heather said: "It said he has found like 131 diamonds altogether, but apparently none of them have been worth enough for him to buy a house or rent an apartment."

Maverick Investor said: "I met a gold prospector in Western Australia once. A very cool, craggy old guy who had all he needed to live / sleep and dig crammed into a small van. I nearly bought a couple of nuggets from him, but he'd left the campsite by the time I got back with the cash. Hi ho. He did inspire me to go get a prospecting magazine, though. Metal-detector porn! The big tgip from him, though, was not to get too close to the big mining operations in WA. They'll happily shoot you if they see you anywhere near their land with a detector. Cheers!"